Steem Is The Best Blockchain For Web 3.0 - Change My Mind

theycallmedan (75) in threespeak • 5 years ago (edited)

THIS IS NOT FINANCIAL ADVICE; THIS IS MY JOURNEY. YOU ARE RESPONSIBLE FOR YOUR MONEY.
Watch at 1.5x speed for better viewing pleasure!
The physical world is the horse.

Marketing only gets you so far; eventually, the money runs out, and if you were not buidling, you're left with your pants down.

When the next "season" happens, it's easy to spot the clothed ones in a room full of naked people.

▶️ 3Speak

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5 years ago by theycallmedan (75)

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sayee (66) · 5 years ago

The most sensible talk I have ever heard. Thank you for taking the time and cover many topics. Sharing all over.

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2 votes

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josediccus (75) · 5 years ago

Exactly, we can decide to focus on cool stuff but how impacting, like seriously impacting are these Cool stuffs, that's why we gotta really focus on things that will bring a better future and no an entirely uselessly sophisticated one, we can debate all we want but the thing is sometimes we are often divided, the narrow utility for security or that Bitcoin brings or the prospect of having the security that steem brings, data storage, and blockchain efficiency? But like you said, it's like Bitcoin seems entitled to that bogus publicity that it gets no other altcoin will get.
However seeing the kind of future we may get for Bitcoin, steem and blockchain is really hazy at the end it boils down to having that maximized feature.
Utterly amazing vlog, one can't stop rumminating the great possibilities that steem will bring. And we can't even get that pleasure to the access of that constant publicity that Bitcoin prides for nothing.

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2 votes

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brianoflondon (71) · 5 years ago

Wow, a lightbulb went off while you were talking. It's not a new observation to anyone here on the 'chain but for me I'm always looking at new ways to explain things.

There is a fundamental point about paying for the resources we're using: our storage, processing power, bandwidth... these are all the costs the normies on Fakebook and YourPrivateInfoSoldTube don't want to think about or don't have any concept of.

Facebook is just there and it works and they didn't have to give over a credit card.

This is a useful extra tool in how I communicate these concepts beyond friendly shores. I've got a video I made 3 years ago for a startup that I had to withdraw from (the founder is still working very slowly on it). It's not block chain, but everything I said in a video 3 years ago fits steem today. I'll re-upload that video at some point to 3speak and write about it.

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2 votes

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tarazkp (80) · 5 years ago

"I want to pay for my space"

This is an important statement that people are still yet to understand in the digital sense as it can be owned, it can be real estate. What I like about Steem is that we are effectively building a digital city where we are able to own apartments in various suburbs that interest us.

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4 votes

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taskmaster4450 (78) · 5 years ago

I cannot change your mind since this is exactly what I try to espouse to.

When people bring up Steem's ranking in market cap, I tell people to look at what is ahead of it. What is going to be a part of Web 3.0? A lot of the tokens are for exchange of value (bitcoin etal), exchanges, and stablecoins. That is not going to be the foundation for Web 3.0.

There are only a handful of blockchains that are developing this. And Steem is the only one I know without fees per transaction. That is a major part of the model.

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4 votes

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celestal (71) · 5 years ago (edited)

Wow, you research dozens of hours a day, or did I hear wrong? xD

In all seriousness though, you are making an awful lot of sense. Thinking about these things, I realized that Steem is like an antithesis to many things that are going shit (censorship, abusing people's free data). These centralized entities keep abusing people because it is in their best interest to do so, and with media being on the same corrupt train, people are not going to learn what value they are being stripped off by the owners of those networks that are swimming in money. Enslaved, like you said.

But on Steem, power is decentralized and is doing so in a continuously increasing manner in different layers through the inflation pool and new tokens that can even take away the dependency of earning Steem itself. I can only imagine what it will be when SMTs come out.

This is where it's at - this is where the value is shared across the users of the network that bring the value. How much was it that the Steem blockchain had distributed rewards to authors, $100,000,000? How much FB has given to its users? Zero. Yet still some people call Steem a complete failure, unbelievable.

When realizing the vision and the values behind Steem, it would be crazy to just leave when we all are having a golden ticket to build something together that we can own as a community and empower others and ourselves in the process.

I like your spirit on these videos, dan!

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2 votes

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chekohler (70) · 5 years ago

I think we know that the tech is superior we just need more layers built on top of it! I’m a firm believer in decentralized sites and I think it is the future!

I think as we truck along and slowly pick up members and so do other sites in the space we eat up centralized sites user bases and it will eventually reach a point where user growth numbers stagnate, share holder value drops, we see a big sell off and these sites have to scale down

We could also see additional legislation on them that decentralized sites won’t have to deal with

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2 votes

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oppongk (75) · 5 years ago

That is really true Dan! We are the really determinants of what is good for our lives, our seriousness, effort will show what we seek for, and where we are going. Thank very much Sir!

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2 votes

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manniman (63) · 5 years ago (edited)

Very straight forward and clear spoken - just great. Don't listen to it on 1.5x Speed, take the time - worth all the seconds :))

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2 votes

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marki99 (54) · 5 years ago (edited)

First, I agree that all coins except a very few are all complete bullshit (especially iota and xyo and machine to machine stuff).

Also, I think you’re completely on point with Steem, it’s my favorite investment by far.

BUT, you completely miss why Bitcoin is digital gold, so I am going to focus on that in this comment because saying what I agree with is worthless to you.

Security is not why Bitcoin is digital gold. That’s just one of the reasons. You have to first understand why gold itself (the real gold) has become the defacto currency used everywhere in the world.

Any object that is rare enough, can be a store of value. Salt and rocks were money at one point. But then what happens is that if the value of salt goes up, people just go to the sea and get more salt, increasing the supply, getting the price down. So money found a place in rare metals, because they are hard to mine.

Gold is by far the hardest metal to mine. No matter how much the price of gold increases, inflation never goes above 3%. And this is why it’s a good store of value. All inflation does is take value from people and give it to miners.

Now bitcoin is even better because the inflation will keep going down as time goes on. So it will be preferred as a store of value.

Furthermore, gold is physical, it can be confiscated. This is what governments did when they moved away from the gold standard. They just said you can’t keep gold at home, you have to keep it in the bank, and all of it will be owned by the central bank, and we will give you paper notes. And that was that.

Bitcoin cannot be confiscated. You can hold millions of bitcoin and they fit in a usb.

Third major point: bitcoin code cannot be updated. Now this statement may be weird because you might think: “yeah bitcoin sucks as a technology it’s very limited”. Bitcoin sucks technologically because it doesn’t get updated. It doesn’t get updated because it doesn’t have a team behind it and no one can agree on what updates to get.

If you try to upgrade bitcoin, you end up with a fork. And that is exactly the point. If you hold bitcoin, you know that what you hold is going to stay what you hold. It’s the ultimate store of value. You don’t want to have everything you own in a currency like ethereum that is going proof of stake tomorrow, proof of shit after two years, and that has reversed transactions because vitalik decided that investors should get their money back. Holding everything in government money is even worse because they litteraly don’t know what they are doing with all this debt and this will all come down crashing one day.

So you look for alternatives. Hence bitcoin. It’s the best currency to hold and sleep on if you just want your money to keep its value. Right now its early days so its potentially going to appreciate a lot before stabilizing. But it will always have an edge against any inflationary currency simply because of the way markets work.

(That said I think bitcoin will go down short term, and i believe that steem is more undervalued than bitcoin compared to their respective potential)

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2 votes

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theycallmedan (75) · 5 years ago

You make valid points. I said the reason Bitcoin would survive is not because of the tech, but because of the name.
5 or so people control the github; you can't say it can never be changed, look at segwit. Ya, we had a fork with BCH. However, the main bitcoin brand name was radically changed. Segwit was about as big of a change as ETH moving from PoW to POS, obv not as big, but segwit fundamentally changed how bitcoin works.
You could have said the same thing five years ago about bitcoin when no one thought LN would be a thing. Remember, there was a WP that was "Set in stone" for BTC. BTC is not the same protocol as the WP describes.
With all that said, it gets talked about by presidents and celebs alike; you can't just manufacture that, no matter how much money you have. There are a lot of things about bitcoin that make it a useful tool for flight to the capital. And it's the ability to be liquid enough for countries to move funds around with, gives it speculate value as a "fire escape." But, as we move into the future and security is a given like air, it will be interesting to see how bitcoin evolves. I would argue DPOS has more decentralization the PoW + Small GitHub with devs that are not accountable to anyone via stake, except the other members. If bitcoin was DPOS, segwit MIGHT have never even been passed; it centrality hasn't helped with fees that much, I spent 6$ during that run to 10k earlier this year and funds didnt arrive for over 24 hours.