Seriously! Steem should be much higher in market cap considering that it does have a working product, and a unique one in the crypto space at that. Other coins are competing with each other within the cryptospace, smart-contract tokens, privacy coins, etc., while Steem has a monopoly over the social media/blogging aspect of the blockchain.
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You make it sound like it is economically desirable for people to make money without corporate getting a cut. "Don't you know that's socialism?"
I completely hear you, and that's what scares me. I see this like you, product, a new way of monetizing time and creativity – it's amazing.
But because it could be that way is a problem. And it's a real problem. Can't have this shit get away from the "serious" traders and the trading houses; that'd be chaos!
Steem AND SMT could be deemed a threat to both money and work. I'd be afraid if I was a bigshot and knew what you and I believe about Steemit and the Steem blockchain.
Steem is seriously disruptive, I think, specifically because it has an ecosystem that goes along with it. The focus on content creation and self sufficiency on perceived value is an anathema to the "Box it up and ship it out and pay nobody" mantra of today's "bleeding edge" businesses.
I like it. I find the idea brilliant. I think it could make life better for more people.
All of these things combined, in my 45 years of experience, means that, what ever it is, it is a threat to the people who run the show.
Purpose of the STEEM blockchain is to tokenize the Internet (i.e. World). Steemit (i.e. Social Media DApp) is just an application running on the blockchain.
More: https://steemit.com/steemit/@lexiconical/what-if-steemit-really-is-just-a-beta-afterthought
Completely agree. It has a solid ecosystem and it's growing. It's unbelievable what we see here. The commitment and passion of most bloggers and the team behind Steem.