A Cryptocurrency Like Steem

A cryptocurrency like steem

The cryptocurrency market is growing up.

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We are now entering a stage which moves beyond the speculators.

Before going any further, I must explain what I mean by Cryptocurrency 2.0.

I coined this designation based upon the way a coin is acquired. Under Cryptocurrency 1.0, people bought in. These tokens, BTC, LTC, ETH, were all purchased using fiat (or profits from other crypto).

This was true for the early adopters and is holding the same for Wall Street.

What is Steem (STEEM)?

In both cases, money was brought to the table.

Once we get past these two groups, we encounter the average person.

The challenge with these individuals is that 95% of them will never buy a cryptocurrency to save their life.

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Since we are moving towards a tokenized world, this creates a dilemma. How do we get tokens in the hands of people who will not buy tokens?

Enter Cryptocurrency 2.0.

This is a token that is acquired through the utility that it was designed for. For example, STEEM was designed to target the social media market and reward people for upvoting, commenting, and posting. Hence, once can sign up, not spend a dime, yet earn STEEM just by engaging in those activities.

The challenge with the cryptocurrency market is that we do not know what ones will take off versus the ones that end up in the trash heap.

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For this reason, it is suggested that one find those projects that appear to solve a problem, have a good team gathered, and make sense. This is the process I heard the last few years when looking to invest in different tokens.

Does the same hold true for Cryptocurrency 2.0?

If you are putting up fiat, absolutely. However, if you are looking to amass tokens through the utility, my suggestion is to go for them all.

A cryptocurrency like steem

It is a numbers game at this point since so much is in early development. There is no way to tell if it will succeed or not. So getting what you can is probably a smart idea.

Can taking this approach really make one rich?

Steem processes more transactions than Bitcoin and Ethereum

I believe so.

STEEM is a prime example. If you read any of my posts over the last month, I believe we will be pushing $100 by year end. Over the next couple years, if we see the development on this blockchain take off, STEEM could move into the $1,000 range.

So let me ask you, how much SP do you need to amass to really make a radical difference in your financial life?

A cryptocurrency like steem

As you can it, tens of thousands of STEEM are not required.

I will give you another example. Now please bear in mind this is pure speculation in terms of the numbers.

According to studies, it is estimated that search is worth over $100B to Google each year. That is a lot of cheese, that if that stranglehold was broken, could be spread around.

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Using a decentralized search project to illustrate the point will show the potential.

Presearch is going to be in beta for the next few years while building an index. To do this, they need to amass enough searches using their interface which they tied to the major search engines.

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It is a long-term process which means one will have to be patient.

That said, for those who got involved in their beta testing, they are paying up to 8 tokens a day. This is a company that already had its ICO so they are openly traded.

Of course, for our purposes we will just focus on the utility of the tokens.

According to Coinmarketcap.com, there is a max supply of 1B tokens. Using the $100B for Google search, we come up with a price per token of $100.

About Steem

Hence, we can see how the 8 tokens we acquired simply by doing searches is worth up to $800 a day.

Supposing you did this over the 36 months they expect to index it, you would have roughly $876,000 at the end of three years. This, without putting in a single dime as an investment.

Will this token get to that point?

I have no idea. Right now, there is an as good a chance at failure as there is at success.

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It is impossible to know. The point is that if you do something like this with 10-15 tokens, some will find success. Being early in the game means that one can amass tokens while they are plentiful.

A cryptocurrency like steem

Again, getting back to the search, there is no way that company can pay .25 token for each search forever. At some point, if successful, there will be too many searches done which would eat up all the coins in one day.

There are advantages to being in early and amassing tokens.

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Even if it doesn't amount to hundreds of thousands of dollars, what if one of the Cryptocurrency 2.0 you were amassing ended up being worth $20K or $30K? Now imagine if you had 3 or 4 that were like that.

Obviously, I believe STEEM is at the top of the list for Cryptocurrency 2.0.

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Since you are reading this post onthe STEEM blockchain, you have a similar realization. If you do not, I suggest you take a look at that viewpoint.

With all that is going on with this network, the numbers in terms of price, can get outrageous quickly. The next 120 days should see some wonderful upgrades which will really increase the activity on here. This should send the price upwards.

I will try to share with you as many of the tokens that I find which can be acquired through utility.

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At present, there are only a handful. However, my guess is that as we progress through 2018, many more are going to appear. It is almost senseless to bring out a token now unless there is some way to acquire it through utility. We know the masses aren't going to buy into it.

So much for being too late to the game.

We are only getting started.

If you found this post informative, please give it an upvote and resteem.

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