I guess my questions is, is Steem itself really Bticoin 2.0? Here are the things that I assume to be ture, but not sure:
Steem is fast, so it can scale much better than rivals.
Steem also includes smart contracts, and I assume they are baked in or will be like Ethereum;
and, its pegged to the dollar to somehow be more stable. I suppose at some point it could be unpegged?
Questions, questions, questions!
Great writeup! Following.
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No, Steem is much more than Bitcoin. But after my research it seems to me, that Steem is BitShares 2.0. In fact, Steem is BitShares + Community. The Steem Dollar concept is much better then the BitUSD. My post should be a funny way to encourage people to have a look at the ideas of Dan. He's a real genius.
Agree totally. Enjoyed your post.
I hope all will take the time to specially listen to the videos embedded in this post, especially the 2nd video...presentation -Bitcoin Conference Las Vegas.
and coax the haters into reading a cleverly designed conspiracy theory that blows up in their face halfway through.
Awesome read :D
This^^^
Yes...and by far among the most underrated of those geniuses in the cryptosphere...
I always suspected this, now I have a proof thanks to your research. ;-)
Very nice article indeed. I am not convinced though that the steem dollar is much better than the bitusd though. With bitusd you are guaranteed to have at least usd at price feed within the 24 hours force settlement. Steem usd is 10-15% discount from usd. If bitusd can distribute some interest to holders (from the bitshares reserve pool) then bitusd will definitely be even more superior than steem usd.
Please correct me, if I'm wrong. But in my understanding the Steem Dollar is backed by the full Steem network. Only 5 % off all Steem that gets created by the Steem blockchain is issued in Steem Dollars. Now the share is much smaller. Dan had written a good post about Steem Dollar stability enhancements. This kind of stable digital currency is really new. It seems to me, that the concept of such a digital currency will evolve over time. And as the Steemit Whitepaper stats it: this is a big experiment.
The Steem Dollar distributes also 10 % interest per year for the holders.
You forgot about one more important advantage: no transaction fees. As of now, no other crypto-currency can offer this.
I had mentioned it at 1. Phase 1: "His trick is: „no fees!“ :-)
Thanks for your comment.