Although I can definitely see your point, comparing steem and bitcoin is like comparing apples to oranges, sure they are both fruit, but thats the end of the similarities. I can go to the ATM use a card and pull out local currency using bitcoin, steem cannot. The amount of use cases is substantially higher for BTC, steem is limited. I love steem don't get me wrong, I just think you need to take off your rosy glasses. feel free to correct me if I've misspoken
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I think the point here is not which one has larger applicability, but which is the usage in real life. Most of steem transactions represents actions made on steemit. From monetary point of view is irrelevant, but from technical point of view it proves the superiority of Steem and of DPOS consensus algorithm. From usage point of view, is a some sort of currency which is heavily used.
Otherwise, I agree that they share the same differences between a bank and a social network. To some point we can compare them...
Yeah Isee what you're saying, steem as a platform, with the user count growing and the interactions growing exponentially shows amazing potential and power of the algorithm, but it is limited to Steemit and a few other marketplaces whereas bitcoin is becoming ubiquitous. Also, I think the usage case is hard to put a value on, because there are so many bots and spammers now just putting up a few lines trying to be rewarded. More isn't always better
But it proves that @dan's next project EOS will work and handle a heavy load of transactions. EOS has a future as a very robust distributed application platform.
The point @jerrybanfield is making is, it's early days for Steemit/Steem. Bitcoin started in 2009, Steemit in 2016. That's a seven year head start. Perhaps, Steemit/Steem will make it big, perhaps not. BUT if it does...
Exactly the key differences section covers this! I am sure a year after Bitcoin launched in 2010 there was a lot of skepticism about Bitcoin and its future but I did not hear any of it because I did not even find out about Bitcoin until 2014. I did not think Facebook was ever going to be a big deal in 2005. It did make finding a girlfriend a lot easier! Steem has everything in place for an amazing future but no guarantee of getting there! Like the dot com bubble, most cryptocurrencies have almost no true value or transactions and at some point probably soon will go out of business. Those that survive as I believe Steem will because of the amount of users and transactions will have the best chance to be the investment of a lifetime today!
When I joined facebook in 2005, you could tell it was already a big deal.
Lots of coins have potential but are still in the baby stage. Just because you believe something, doesn't make it true. With over 230 million coins on the market you believe steem can get to $10 per coin?! I would love to see that happen, but cmon now, you must be smoking the good stuff.