Looks like steemit success and open sourcing the web site has produced the first ICO based on steemit
From first look it looks like a mix of steemit setup with lisk setup. PostBase ICO pre-announcement describes the project as follows:
Postbase is an ambitious social bookmarking and funding project that is focused on the development of a fully decentralized social bookmarking platform that rewards users for submitting quality content. At the core of the postbase platform is the POST cryptocurrency.
https://bitcointalk.org/index.php?topic=1576067
By the time it gets off the ground, Steemit will be well established and it will have already conquered many challenges during the early growth phase. I don't see any reason to invest in the idea of another social media based cryptocurrency project that doesn't have any very clear benefit beyond what Steemit has already demonstrated.
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After open sourcing a project, it's always expected to have a few clones attempt the same task, that does not mean success for the clone, but it gives a lot of credit to the original.
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Yes, just by the fact it's being copied indicates that it's successful. And I've learned to put my faith in the devs, and @ned and @dantheman appear to be good people.
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I wonder what they will call their Whales? T-Rex and below are Raptors
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Whale was a whale long before Steemit.
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If it is just a clone trying to copy the same idea it usually does not work so well, but if you have a good and different idea that can be based on the same platform why not focus on it and end up with a successful product. The problem is that most of these are simply going to be clones and being simply a clone of something successful and established is never a good idea, even if you are based off the same source code.
Here is an example - the Brave browser, it is based off Chromium, so they are not trying to reinvent the core browser from the ground up, but are focusing on some features that are what users want - privacy, safety and of course getting rewarded for the thing that you are already doing every day - browsing the Internet. So far the project seems promising, but we are yet to see if it will end up successful and be able to deliver on the promisses they make.
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They didn't read block chain license.
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If you ask me most people will not read or care about the license when you release something open source, they just believe they can do whatever they want without caring what terms and limitations are associated with it, like in the case with seemit. As long as they can make a quick clone and profit from it or even pretend to plan on making something and get away with some of the money people invested in the idea.
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it seems they are using something different: Technology Stack: Nodejs, express, Angular, Reactjs, electron, postgresql that remains to be seen though.
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Hi @dantheman first time I see you here. Thank you for developing this platform, I see it as a great way to expand the cryptosphere for all currencies, which was solely needed. You have a fan in me. Cheers!
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Honestly Dan I think they read but don't care about it. Fast profit makes them greedy and blind. Sadly there will be people to be trapped.
Makes me sick to see greed, there is enough for all
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I don't think they care.
These people are most likely going to clone enough to lead people along and participate in the ICO - long enough to get the escrow money (assuming they have one) and by the time people realise what has happened they will be long gone. I've seen it too many times before.
Even if not a scam I think we are seeing ICO insanity right now. People don't even care about how fatigued everyone is with them after the DAO fiasco, WAVES - even LISK has performed poorly compared to what was expected.
I would be happy if I never see an ICO again.
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Here we go! The next gold rush. How many Reddit-style shitcoins can we create? Or maybe they will outperform Steemit? Time will tell...
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Only the first one rules all of them. Just like bitcoin.
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that's correct :)
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Spoken like a true Steemit Maximalist. :-)
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Is it weird that I think this news is just going to bring more people around to being comfortable with the idea of a social network intertwined with cryptocurrency, and that'll drive more people to Steemit?
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Anyone who does even the slightest bit of research will find Steemit to be a far superior platform.
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Imitation is the sincerest form of flattery!
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Indeed.
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Never have been a fan of ICOs in the crypto world, probably because there are a lot of scams associated with many of these. I don't excude the option for this one turning bad even before they release something working even if they plan to do such a release. I'm not accusing them or anything, just saying you should be careful :)
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I used to be a big ICO fan. Then we had Nocoin (Neucoin), the DAO, WAVES (hopefully that will pay off eventually), and even LISK has been a bit underwhelming compared to past ICOs.
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I'm still new here the thing that's putting me off is not understand this new currency bitcoins and how it works, it still baffles me, think that will put a lot of people off. Hopefully Steemit will grow and so will the knowledge
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Well here you can ask, and search topics for what you want to know.
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I an asking and reading hoping all this information will eventually mean something to me
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Stick around, you will learn a lot. Crypto is amazing, a way to transfer funds electronically anywhere in the world through the Internet without a central point of failure. Created by math, not by governments. Any questions, feel free to ask me!
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Its reallt difficult to understand when you have never heard of it before, it's annoying when most on here seem clued up... I feel a tad thick
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Patience is a virtue, you will get it. And by the time you do, you will have a lot more of it to spend! Win/Win.
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Haha you have obviously never read any of my work I am destined to be poor
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In each subreddit about crypto there is S. Nakamoto now. Most of these projects will never come to life. As Vitalik of Ethereum have said, you can copy code, but you cannot copy community
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They are just trying to get some coins. They do not look like competition.
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Would this be good then? I would think all clone would be a kind of bad for this. I love Steemit, without earning annything at all. But i think this could atract newbis couse of they wanna earn monney.
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I think the Waves ICO has put an end to the big ICO's trend, but what the whales do sometimes surprises you.
I am pretty sure this will not come close to steemit by any means.
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Great stuff.
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It'll be hard to overtake on a lot of levels. Took time to get people over and when they're entering Beta, we should be well over it. Would take some real mess up to derail us and I think it's been thought out to well for that
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It was inevitable. Lisk had 2 clones announced before it even launched.
Ether got cloned by accident without anyone even realising it would happen (I don't mean Expanse).
Expect at least 10 more.
Plus there are all the genuine competitors - Synereo may launch in our lifetimes (if we are lucky) and with all the ether craziness who knows when Akasha will launch.
Forgot about Decent they are having an ICO in September.
Typical crypto - everybody has to do the same thing once they smell success.
BTW I didn't get a chance to thank you for your "Dummies guide to mining" - got me up an running really quickly.
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Interesting. This is to be expected though. Steemit clones will come and go, but they will never be as good as the original
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Interesting.
Sorry to be so ignorant - what is ICO?
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Initial Coin Offering. It's like an IPO (Initial Public Offering), but for a digital currency.
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Thanks for your reply and the explanation.
I guess I'll skip this one. I took part in a RICO last week. Now when I mention this - it should have ringed a bell about what ICO means :)
I am talking about Xaurum rebirth. Are you familiar with it? Reference: https://steemit.com/xaurum/@ervin-lemark/xaurum-rebirth-initial-coinage-offer-ends-in-less-than-14-hours
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Network affect. Any new incentivized social network like Steemit would have to offer extremely significant advantage for it to overtake steemit, which is already at a shocking 250K market cap.
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Seems overly complex, especially the delegate system.
And only one developer is listed.
And a 30 second blocktime seems way too slow.
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I went through the announcement (and replies) and checked the website. It really looks a bit complicated with all the different post types and whatnot.
@joseph What makes you say that this is a clone of Steemit? Except for the basic idea, of course. Thanks in advance for the reply.
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glancing over, doesn't look anywhere as close to as professional...
and who is Carmen Harvey?
the link on the website to their ONE team member doesn't even work.
red flags.
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This post has been linked to from another place on Steem.
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