Steem? No way, with massive whales Milking the system what kind of chances Steem have to be a BTC rival or even to replace it? No chance, Whales are equal to China miners, at least miners sell trade and hold BTC, Steem whales Milk Steem powering down very punctual, until people still feeding them and investing whales will be happy, hurt the whales what they love, money.
Steem have no chance at all to replace BTC, who in the world will jump in into a system were the whale is king? Man this is totally out of the reality.
BTC is going nowhere since 2009, Declared dead more than 90 times and check coin market cap, is at the top of the league. Whales have to protect the perpetual pay check so will see how Steem develops in the next 30 years, but steem the next big thing? Wow I dont see that coming at all.
I don't think steem will be the replacement to bitcoin. But I DO see it doing very well long term.
Bitcoin's value is backed almost entirely by china. If china crashes the price might shoot up as the chinese flee their own currency. But then it will crash back down again.
Instead, I expect bitcoin to be replaced by a new coin that is designed to act as a currency replacement and backed by banking institutions.
Steem isn't designed to be a universal currency so it will never displace bitcoin. But I expect the value will rise long term. Right now the whales are selling it out hard - lowering the price. This is both good for them ($$$) but also good for STEEM because it spreads out the ownership more. Right now it is far too concentrated.
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I am not very optimistic on Steem price to be honest but the only thing that can make a difference is big steem Power as lower you buy is better, that's why people need to stop buying SP, leave the price crash, buy low, hurt the whale, and enjoy the ride!!!! ;)
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