The real difference between Steemit and other altcoins, is the fact the community is choosing to add content. The creation of content by a user community is a huge advantage for growth. Look at facebook, twitter, instagram, and now even LinkedIn. Content and involvement is the key to success and longevity.

So it is not just alt-coin speculation like we have seen in the past. As long as the community feels like their content and participation are meaningful, valuable, and rewarding then Steemit has a great chance. If however, new members become quickly disillusioned, like a few of my friends I brought in, then we are at risk of being an interesting test-case before another initiative does a better job. So, we best get it right. Either way, there will be competitors.