Stephen Kendal compares Steemit to Facebook. Kendal explains why a future 500 billion dollar valuation of Steemit is quite possible. As a new generation of investors pour more money into the crypto market, will stock certificates be replaced with cryptocurrency?
We are already seeing the ecosystem of Steem expand. Every week we are seeing new dapps developed for the Steem Blockchain. Whether we are posting on Dtube, Dsound, Tasteem, or any other decentralized app, we are still a part of the Steem ecosystem. As we watch Steemit add various communities and niches, Facebook seems like a very stagnant socoal network. The ever changing nature of Steemit makes the Steemit community all the more exciting as we watch our once small community grow.
During the “old Days” of Steemit.com, posting on Steemit was much simpler. We really didn’t have that many options. You wrote a post and shared it in the hopes that someone would vote you up. You voted until your voting power was too low and interacted as much as possible with your fellow Steemit posters. This was barely 2 years ago and we have seen dramatic changes. Obviously the price has increased considerably which makes it more beneficial to post. The use of bots has skyrocketed and the interaction has diminished somewhat.
First of all, so many people are delegating their Steempower to either bots or new Steem projects. We also have a multitude of platforms to post on and enjoy.
A typical day might include posting a video on Dtube, updating your podcast on dsound, and searching for the coolest products on Steemhunt. You may share a meme with your followers on Dmania and livestream a video game on Dlive. You can share a few thoughts on Zappl, add a photo to Steepshot, and write a quick post on Busy. You may need to check out the latest development updates on Utopia as well.
To relax, you might try to win a little Steem by playing the Steem based Super Eight Ball on your Android device and then share the results using your Esteem app.
After you’ve completed all of these activities, you need to share them on your Blog which uses Steempress to automatically post to Steemit from your WordPress blog.
I share this imaginary day to make the point of “Wow, look how much we have grown!” When you take the time to explore all of the new decentralized apps on the Steem blockchain, the sheer number of available activities based on Steem is quite astounding.
I’m certain I have left some new platforms out, so please add them in the comments. In short, in spite of many ups and downs, We have come a long way! This is just the beginning.
Binance, one of the most popular Cryptocurrency exchanges in the world, has plans to enable their customers to buy Cryptocurrency directly with fiat currency. The complicated process of buying cryptocurrency has been an obstacle for many potential investors. Instead of buying a currency like Steem directly, one must purchase Bitcoin or Ethereum first through companies like Coinbase. Once the Bitcoin is purchased, it must then be moved to an exchange to buy Steem or whatever cryptocurrency is desired. Throughout the entire process, the customer is paying fees and experiencing long delays before they can even begin to purchase the coin they are interested in. Recent moves by Binance may change this entire process.
Binance has moved their operations to Malta which is fast becoming one of the most “Crypto friendly” regions in the world. Originally headquartered in Hong Kong, Binance had major concerns over the often unpredictable regulations imposed on Bitcoin and the cryptocurrency markets by China.
Binance is working with local banks in Malta to set up fiat to crypto trading pairs. This action will enable investors to buy cryptocurrency directly with US dollars or Euros without having to go through Bitcoin first. The ability to buy directly with fiat is sure to bring in many investors as the entire process will be so much easier.
This development will be a welcome change to many who have experienced less than stellar treatment from the banking establishment. Early 2018 saw many banks ban credit card purchases of cryptocurrency. Some banks even imposed significant fees for debit card transactions as well. Coinbase also had a problem with merchant services double charging customers for many transactions.
The ability to buy cryptocurrency with fiat dollars and Euros will completely change the landscape of cryptocurrency investing. Get ready, Crypto is going mainstream whether the banks like it or not.