What Is The Main Source Of Value Of The Steem Blockchain?

The answer is very simple: the content.

This is easy to forget because of the seven-day payout window. We tend to create our content, post it, collect the rewards and move on. We tend to be fixated on the spot price. We are overjoyed if it rockets and fall into depression if it crashes. People come and go. Not everyone can stomach the brutal bear markets. But we should remember one thing: so long as there are people creating content that has value to the outside world, the totality of that content will continue to accumulate. Year after year, the chain will grow because it forgets nothing. Every word typed and every link to a video or a photograph will remain on chain and available to the public for as long as there is one node running.

Bitcoin or Litecoin are just a ledgers of account balances and transfers. If either of them goes to zero, nothing of import in terms of content will be lost. But STEEM will never go to zero as long as the content interests people. Bitcoin's safe haven narrative seems to be struggling. The jury is still out as to whether or not Bitcoin can become a safe haven asset. It should be remembered that even gold has crashed in the initial stages of recessions before. But if Bitcoin fails at wider adoption or becoming a safe haven asset, we should stop relying on granddaddy Bitcoin and pay attention to the unique value proposition of Steem. Curators should look for high-quality non-Steem-centric content and support it.