Bitcoin is gradually recovering this week leading to steem and other altcoins joining the vibe, hence why we all are seeing positive gains in almost all the top cryptocurrencies –according to coin market cap
This is like a story of the big strong king and his loyal followers who cannot live without their master leading to adversaries targeting to kill the king in order to control the whole kingdom. Is that the case with steem? Will steem ever be independent from bitcoin volatility? Are there pragmatic strategies to employ which will gurantee steem ecosystem independence and thus free itself from bitcoin shadow? Here are some few points:
Bitcoin Dominance: bitcoin is indeed the king and without it, we all will not be here enjoying the gains of blockchain technology. Moreover, most altcoins value are measured in its exchange rate against bitcoin adding to the importance of bitcoin. Furthermore, most haters of cryptocurrencies focus their attack on our king bitcoin , creating fud and doubt around the industry leading to panic / emotional sellers selling their bitcoin at a loss- which in return lead to other coins like steem, eos, ethereum et al catching the cold from bitcoin: where bitcoin goes, all follow. The big question is , does it mean that if bitcoin runs to the pit (hopefully never) , steem and other altcoins will follow? I don’t think so (hopefully ).
Steem Superior Blockchain: steem blockchain processes transactions faster than bitcoin and ethereum combined and home to top platforms and applications (steemit, Dtube, Dlive, Utopia, Dmania, zappl , esteem etc) that adds value to thousands (soon millions ) of people around the world . Moreover, the upcoming SMT and Hfork20 see here shows that steem blockchain adds more value to the real world than EThereum and Bitcoin and a good reason for people to recognize the true value of the technology and thus remove it from bitcoin shadow which is 100% man made. I am bullish about steem -see my former post for reasons : here and optimistic that steem will be out of bitcoin shadows in the near future because of its superiot technology and real life use.
Do you agree? Send in your comments and or suggestions, upvote to send in your support and resteem in order for others to learn.
Click here and read my former post:Fact Cryptocurrencies are on A Long road to recovery & why I am Bullish on Steem
An Advert for a top new crypto www.elyte.io
Competition: Our competition bounty is open- feel free to share this form and Join Elyte 1st Social Media Video Competition via this link : https://docs.google.com/forms/d/e/1FAIpQLSdOtRSqVYV48sIghmNUGG_pUNtoc-AneaDUzN8YBZhDPGPIzw/viewform