The EOS B1 June Party is about to kick off in a few days. There are going to be some enormous announcements taking place which are surely to alter the world. After all, based upon the "leaks", this is going to be a game changer.
We are also promised it will be the end of Steemit (or is it Steem, I still get confused by that).
I guess we are going to see the Steemit versus MEOS showdown. Will this rival Ali-Frazier?
Of course, expect the price of STEEM to get killed. We live in a world based upon fear and going head-to-head with BlockOne, their money, and connections is a no win situation.
MEOS is just going to tap dance right to the top is the presumption.
Is it a correct one?
To start, according to the posts by @penguinpablo, there are roughly 45K-50K accounts transacting a day. This has led to Steem has many top ranked DApp according to the sites that look at that. The usage of Steem apps exceeds most of what is out there. So it only makes sense that MEOS would go after the big fish.
In this sea, Steem is Moby Dick. Ahab is coming for the crowning jewel.
Please let's get serious.
Steemit is nothing. Steem is a piece of feces hanging off the rear of a flea. That is how big this entire thing is.
There are 7B people on the planet, half on the Internet. That is roughly 3.5B people for those without enough fingers and toes to count. When it comes to "social media" sites, our entire ecosystem is nothing more than a rounding error to the centralized counterparts.
Would you consider LINE to be a major social media app? Neither would I. Yet, in Oct, 2018, there were 78M LINE users in Japan alone.
I know Dan stirred the pot with his proclamation about Steemit's days coming to the end. Personally, I think it was a very stupid statement, even if he meant it. The truth is the in-fighting among ourselves is a total cancer. There is too much tribalism which mirrors the traditional model of each entity beating the others up. The difference is, in that realm, there are plenty of powerful institutions. We are not in such a position.
Even the well financed BlockOne is nothing when you even compare it to Pinterest let alone Google, Facebook, and the rest of the FAANG.
I do not hold any EOS tokens yet I want that platform to succeed. The idea of wanting failure of another in the crypto space makes no sense to me. It is not a showdown among ourselves. That is not where the focus needs to be.
Our attention has to be upon the likes of Facebook. We can add a name like JP Morgan to the list. Let us not forget Google. How about the SEC? NASDAQ? CNN? FOX? Jeff Bezos?
We are not going to alter the path of humanity by thinking small and acting like a bunch of children in a sandbox. The "maximalist" view in this industry is like a cancer. Sure, it is great if one is very optimistic about a particular chain and backs it up with a significant holding. That does not mean it is necessary to beat down another project. There is room enough for it all.
We see a lot of that creeping in here. Let me ask a question: what would your view of things be if coinmarketcap.com did not exist and you had no idea of the price of a token? How would that affect your judgment of things?
Was Steem a more valuable blockchain in December 2017 when the price was at $8 as compared to today? In market terms, it certainly was. Yet, if we use metrics other than price, we see a different story.
The chain that is going to have the greatest impact is the one that is able to bring in the most people through the utility that is provided on there. EOS traiffic, at this time, is mostly exchange and gambling. Dan is well aware that to succeed, EOS needs to get better quality traffic. Steem has that.
Hence, the goal is to bring as many people in, not drive them away. Ironic, this holds true for the entire industry, not just Steem versus EOS versus BTC versus BCH.
Nevertheless, we see adept at getting our panties in a ruffle and drawing lines in the sand. We concentrate on little shit while the true entities are focusing upon stuff that is aimed at destroying what we are building.
On thing EOS will quickly learn is that everyone has an opinion and social media gives all a platform to express it. The challenge is few have the time or inclination to learn about what they are commenting upon. They garner information from a few headlines and then hit the keyboard. This is something the mainstream media knows all too well.
We see it on here. Steem sucks and EOS is great. Steem is dying because the market cap is going down and our retention rate is awful. The token distribution is bad with the Whales having all the power and not giving a crap about anyone but themselves.
Do you think the Whales on EOS are much kinder? Or on Bitcoin? Or Ethereum?
By the way, how does a social media platform work when more than 90% of the tokens are in the hands of so few?
The 15 Whales control 90% of the tokens on EOS. While Steem might not be great with 34 Whales having almost 53% of the SP, we are seeing the trend the other way. Over time, it is spreading out. I post about this regularly for just this reason. This is an industry where patience is required. Impatience can often lead to shooting oneself in the foot. The law of unintended consequences is always in effect.
What I see as the biggest problem in this industry is the geeks. I repeatedly admit it is their world and we are desperate for their develop. There is only one problem: they think they can code out human behavior.
Greed and self-interest are still a part of our make up. It is something that we must deal with. Ironic, it is a lesson few learn, especially those with power. Do we not see governments trying to do the same thing? How about that prohibition thing that took place in the U.S. almost 100 years ago? How well did that work?
Did prohibition eradicate alcoholism and all the perils that go along with it? Nope.
How about those laws against possessing marijuana? Considering that 90% of Americans, in a poll a while back, had tried it, seems like that was not changing human behavior.
I hope that Dan and the team over at BlockOne has some revolutionary things to announce. I really do believe, if they can pull it off, that a Digital ID system will radically alter the online world. If they can somehow attack the problem of poverty by designing a UBI type system through some delegation or stake EOS, I think that could help the world.
That said, I foresee some difficulties ahead. What we are experiencing on Steem is not unique. MEOS will find something similar. No matter what the "rules" are, how things are altered, people will figure out a way to use it to their advantage. This takes on additional meaning when you have a bunch of very smart people.
This industry is not made up of a bunch of dumbasses who have no clue. On Steem, we have a lot of highly intelligent people who will figure out to keep things benefiting them. Again, it is human nature. While a few might not have this outlook, the majority do.
At the end of the day, this world can handle more than one decentralized blogging platform. MEOS and Steemit can coexist. It is more likely, at this point in the game, any project's destruction will come from inside as opposed to outside. It will be a self-imposed demise.
MEOS might ending up taking over the social media world. Who knows? Before that happens, I foresee a bumpy road for them. They will realize that coding out human behavior is very difficult.
Fear and greed are very powerful motivators. And it is something that almost all of us wrestle with.
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