So as I'm drinking my morning coffee I noticed something. Amidst all the speculating and mining I believe there is a fundamental problem with cryptocurrency. How does a person with very little capital "earn" crypto? Aside from mining and speculating the missing piece of the puzzle lies in user activity.
STEEMIT
Enter Steemit; blogging for virtual cash. The concept is simple and seamless. You write about your interests and get paid. Upvote/share and get paid. And the kicker is you don't need any capital to start. It's so easy even your kids can do it. So my question is why aren't more projects following the Steemit model?
GAMIFICATION
So how do these "coins" translate into real value. Because, lets be truthful, some of these coins do nothing. Sure you can trade them or mine them. But the secret lies in gamification of user activity. This will enable any currency creator the ability to reward users for tasks. By rewarding users for tasks developers can create a solid ecosystem of engagement and value.
SHITTY REWARDS
Now there are plenty of "reward schemes" that exist. Some even deployed by Fortune 500 companies. The problem with these reward programs is they aren't abundant enough. Most people won't waste their time pursing pennies when they have to spend hundreds of dollars. Or you have to meet a certain threshold to get your reward. By this time the user has either given up or moved on to something else.
THE NEW MINER..YOU
In the near future I see "people" or "user activity" being the new mining of cryptocurrency. As the "internet of things" takes shape cryptocurrencies will find it's way into our homes continuously. And truthfully, anything can be rewarded. From feeding your dog to brushing your teeth. Soon there will a currency for anything. And, most importantly, it will create abundance for all. ;)
I really hope more places start following the steemit model, and more coins start having some type of integration like this rather than everyone just mining them (how boring!)
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Just remember devs are smart but some lack in the "imagination" department. That is where the dreamers and artists take this crypto thing to the next level. ;)
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Yes we can lol
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abundance is the key here
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So true. I believe the more currency flows the more valuable it will become.
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Wait till the public really accepts cryptocurrencies. All hell will break loose on Wallstreet :P Cant wait
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When people see that there is a better way Wallstreet will never be the same.
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I sure hope so. Unfortunately most people are to busy with themselves to see what is really going on
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Maybe but how many people have you brought in... my friend is on his way and should be on today lol
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First lets master Steemit ourselves LOL
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I know I am a bit suspicious of anything, but when you said you can reward anything I thought of the darker side... what a great control mechanism for those who control the coins... what if ... hmmmm just food for thought cheers...
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oh and great post
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The beauty of the blockchain is no one controls anything.
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yet
https://steemit.com/cryptocurrencies/@thelifeofbrian/the-crypto-wars-have-started
Just not sure how they will MAKE us use theirs yet.. Its going to be a wild ride ...
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And know all wars are won before they are fought. Just got to go with the flow. ;)
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was just watching this one ... interesting
https://steemit.com/crypto-news/@crypt0/government-attempts-to-pass-bill-to-confiscate-your-cryptocurrency-and-other-assets-circle-more
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Tyranny..pure and simple..And I'm sure there is a lobbyist behind it as well..
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I might be getting old but I have seen many countries fall that tried to buck the world banking system.... I do not think this will be easy to do ... but hold out hope that it cannot be stopped..
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@automation, I like your sense of optimism . The issue with Crypocurrencies: top coins like Etherium and Bitcoin is that they are too expensive to the ordinary people hence why we all should be thanksful to steemit creators. This platform rewards hardwork and talent and we all should be thanksful and keep on promoting steemit to the world. A win win for all
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Indeed. However, the high prices of these currencies may be a blessing in disguise. Meaning the satoshi dust may end up being used as collateral for new crypto's. (See Bancor project) :)
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Good point , due to the high ROI people are entering the filed of blochchain tec...however I indicated limitations of bitcoin and steem (pls see my page post). any direct link to Bancor project? if not, then I have to google it
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https://bancor.network/
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Thanks
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