Reddit Posts
MOONs is not the first social cryptocurrency
4th of September 2016 top 10 by Market Cap
Blockchain-based Social Media Platforms
About “Top 10 crypto altcoins to invest- insert year-“ and other similar articles and YouTube videos.
Mentions
STEEM, it was literally stolen out of my wallet via a hardfork when Justin Sun took over the network.
Hahah yes, and Waltonchain, SUB, OMG, LISK, STRATIS, KOMODO, STEEM, NEBLIO? 😂 🤣 So many in the top 100 and they’ve alll faded into obscurity.
even that's not good advice. The top ten crypto in 2016 were 1. BTC 2. ETH 3. XRP 4. LTC 5. XMR 6. ETC 7. DASH 8. MAID 9. XEM 10. STEEM
Moons have become the 2023 version of STEEM
God no, STEEM is owned by Justin Sun now
I wonder if Steam is looking elsewhere in the crypto world. Wasn’t there actually a crypto, in top 20 years ago, called STEEM?
I had no idea STEEM had fallen so far. I remember their cool blogging platform that was dominated by whales from Philippines.
#pure speculation, but hear me out Every sub is going to have a different currency. If this is the case, ALL users will be getting currency for posting and upvoting on Reddit. When users find out they can join crypto.com or some other platform to cash out and trade their internet points, there's going to be another bull run, starting with an altcoin boom. The timing will coincide just several months before the next BTC halving. Around the time of the halving, altcoins will lose market cap and BTC will jump to over 100k. NFTs started making the news in 2016. But the NFT craze really took off in 2021. Coins like STEEM started taking off in about 2017, but I think the social coin boom could be triggered by Reddit doing this, which might trigger all of the above. !RemindMe 18 months
That’s good to know. Especially since HIVE seems to have a $134m market cap, 3x Moons. Clearly there is more potential for a Moon network effect it there are half the wallets of HIVE. In entrepreneurship, we often say, “The first one in the jungle often get killed, paving the way for others to succeed.” Thank you STEEM/HIVE for your sacrifice🙏
Moons are the first ‘scaled’ social crypto currency. If you know anything about MAU/DAU, registered users don’t mean shit, then STEEM/HIVE are not scaled, they are simply small projects.
Yeah MOONs is not the first social cryptocurrency, and platforms like STEEM and HIVE were already in existence before MOONs. Each platform has its unique features and benefits for content creators. Proper recognition should be given to the pioneers and the current players in the crypto space.
I would never shill STEEM, I hate Justin Sun with a passion lol. I would shill HIVE though, on the virtue of it being a relatively good chain and decentralized platform.
Idk chief Like I’ve said I’ve been here a while but doesn’t ring a bell. Is STEEM better or something?
Yeah, price drop from ATH is brutal. STEEM is not really even in the discussion after the Justin Sun’s take over of the chain.
If you were not around the space like 6 years ago, it is pretty normal that you have not heard of it STEEM. It was a pretty big coin back then.
I honestly don't recall ever having heard of STEEM or HIVE before reading of them in your post. I guess I now have to stick them on a watchlist for further research. Edit: (technically not an edit I just took a minute out to read a little on both of them) Ok this reminded me why I mostly stepped away from crypto for the last 6 months.
STEEM’s market cap is 76M, HIVE’s is 177M. Otherwise correct, which I would be stoked about.
Yes, it is active with developments still on going. It is its own chain forked from STEEM. Basically feeless transactions with 3 second block time and one block finality. It has its own L2, which powers one of the biggest Play 2 Earn games in crypto space; Splinterlands and many others. Communities can award their own L2 tokens. Staked Hive, determines your transaction quota, your vote power and works as your governance tool to vote on proposals and witnesses (block producers) You can check hive.io for more information.
If MOON has marketcap of STEEM (177m), 1 moon would value at $1.5
How do I, an average person with limited technical knowledge, get STEEM or HIVE tokens? I’ve never even heard of them until now
This is a huge distinction. STEEM and HIVE were created as way to use crypto to encourage content development. They were bribes. MOONS were created to reward people who were already creating content. It's revenue sharing.
STEEM was a top 10 crypto back in 2015-2016, if I don’t recall incorrectly.
The benefit that MOONs have over something like STEEM is that it was launched on a platform that already had a broad user base. It will be interesting to see how MOONs hold their value if a big social platform like Twitter, Instagram, or even Reddit launches a site wide token.
At least it's the first one that isn't completely irrelevant (thanks to Reddit). I've been in crypto for years and never heard of STEEM or HIVE.
The problem with STEEM was the same that happens to this subreddit currently. No one is consuming (reading) the things the creators write only to get some token. There is no more content inside posts and no more information inside comments. It is all about the profit.
I can't deny it, many are too hyperbolic about MOONs being the first and only cryptocurrency society, guess they forgot STEEM and HIVE lol.. Where they already have a market cap of $177 million.. Hopefully Reddit won't disappoint us either.
Yep, and HIVE forked from STEEM after his purchase without his stake.
Why don’t you mention how STEEM ended up OP?😉
No idea. STEEM was also a hyped network back in the day but, of course, eventually it kind-of died down.
What’s the monthly active user number for STEEM?
>The r/cryptocurrency sub is the first scaled example of a Web3 social commerce platform that legitimately pays users for their contributions. OP has obviously never heard of STEEM.
Sun Yuchen (Justin Sun's real name) is a known scam artist and CCP asset.. You don't have to look much further than what he did to the STEEM community to know the guy is a massive piece of shit. Avoid anything he's involved with.
Moons is not BTC of Reputation based crypto currencies. STEEM and HIVE is much more older.
LSK, STEEM, WTC, VERT, OMG, the list goes on..
Selling alts (top ones) now for BTC dont seem wise. They have dropped much more than BTC, and BTC will never rebound as much as those. If you want to go to 2017 here was the historical prices on Jan 1 2017 vs today (somewhere in the middle of the bear market) of top 10 coins back then : BTC - 998$ -> 25800$ (25x) ETH - 8$ -> 1750$ (217x) XRP - 0.006$ -> 0.51$ (84x) LTC - 4.5$ -> 77.94$ (16x) XMR-13.97$ -> 136.5$ (8x) ETC - 1.39$ -> 15.11$ (10x) DASH - 11.23$ -> 29.40$ (1.6x) REP - 3.99$ -> 5.60$ (0.4x) MAID - 0.09$ -> 0.14$ (0.5x) STEEM - 0.16$ -> 0.15$ (0x) Having a portion of your portfolio in BTC is wise (the size depends of the exposure you want to risk), but ignoring alts is also ignoring potential gains. Assuming I invested 1000 dollars in 1 Jan 2017: btc = 25800$ (25x) top10 = 2585+21875+8500+1700+970+1080+260+140+150+0=37260$ (36x) Also keep in mind the crypto market back then was way less mature, more or less everything was experimental/moneygrab. Now the majority of the top cryto projects have defined roadmaps and business models with actual income revenue streams.
Fighting for Binance is not fighting for the crypto space. Binance has not contributed anything to any decentralized system but they provide a centralized exchange and a centralized "blockchain". There were so many fishy things around STEEM in the past or listing this Pepe crap before listing serious projects, just to name a few things. Binance going down and this cz guy disappearing from this space cannot happen soon enough.
... and I remember how many years ago this sub used to make fun of STEEM and how toxic the idea of getting paid for social media interactions was, and how much of a trainwreck it predictably became. 😺
The concept of MOONs is nothing new, I've seen it since 2015 at least. I used a forum that pay the exact same way moon does but with BTC. And there is STEEM too but it works differently that MOONs. The concept is nice though, it allow the users to votes for changes on the sub. One thing I do see is that in the future we will see a lot of scam with this community points, mods doing shady things etc. Let's hope it doesn't happen here
I know, I have been into Steemit for years, they are not identical, but they have some similarity. For the STEEM price, I saw the ATH from CMC and CG, too bad I wasn't here from the same start to witness the ATH.
You know that MOONs ATH really wasn’t $1.56 right and that is very different than STEEM
In the end, all crypto is democratic in that it can be forked and adopted by the majority of current users. I like it. It’s a safety valve. Consider the risk that one entity takes a majority share in a proof of stake network. This is not a problem if the users fork to a new chain without the centralized authority - which is what happened with STEEM.
STEEM back in the days, then 2nd biggest profit with CAKE.
>Two competitors writing about the same content. Blogger one is rich and decides to buy a shitload of voting power to destroy blogger two and starts downvoting him into oblivion. Doesn’t happen, if it does other whales would negate the downvotes. >The "blockchain" works the same way EOS does by 21 elected block producers who are exclusively entitled to create money while everyone else has to beg for votes to get some cents. It is 20+1, the 1 selected randomly depending on their vote weight. You are clearly out of the loop when it comes to HIVE and iterating things that have been left behind in STEEM. HIVE has moved beyond blogging. With dapps like podping ( A standard for podcasts to send information replacing centralized RSS feeds.) and Splinterlands ( One of the biggest blockchain games in terms of users.)
Two competitors writing about the same content. Blogger one is rich and decides to buy a shitload of voting power to destroy blogger two and starts downvoting him into oblivion. The "blockchain" works the same way EOS does by 21 elected block producers who are exclusively entitled to create money while everyone else has to beg for votes to get some cents. In the end STEEM and HIVE are circle jerks of "content creators" upvoting each other while there is no one consuming these posts. They call it social media while it is a simple blogging website where anyone who pays for an account is allowed to write articles.
I never got downvoted by whales, flag wars are a thing of the past. You clearly have not been on HIVE since STEEM.
It is crap due to the 21 block producer garbage and getting downvoted by whales. It did not work as STEEM and does not work as HIVE.
Dude literally stole funds from wallet’s of STEEM users that were against his takeover. I don’t know why anybody would trust him.
What about STEEM, XRP, LTC, DAO, XEM, DASH, MAID and LSK? You chose ETH because it's one of the most well known and trusted now, but if you invest in 2016 you don't have 2022 knowledge. Also you're comparing a 15-ish billion, highly inflated, market cap market with established and massive corporations. It's like dumbasses saying "look Bitcoin went from nothing to a lot!" and compare it with the top fortune 500 and their growth instead of highly risky penny stocks, or more like angel rounds, and using the same survivorship bias bullshit.
Of course he did. He staked almost all tokens of small proof of stake altcoins and when the hot wallet was empty, he paused withdrawals. (Harmony, Iotex, etc.) Binance also participated in Goverance with userfunds (STEEM).
Off the top of my head... he did a Tesla giveaway in 2017 where the live stream bugged out for a second selected 2 winners when it was only supposed to select one. The first person selected was declared void due to the bug. He also did a hostile takeover of STEEM. I think binance was involved and they used user's STEEM funds to vote in the governance to make it happen.
*"Not a fan of Jae myself. POS and BFT may have been his ideas"* I don't know where you're getting this from, probably this is some Cosmonauts myth and legend that was spread around. POS was first invented and implemented by Peercoin (Sunny King and Scott Nadal) in 2012... not this fraud JaeKwon. DPoS (what Cosmos is using) was invented by Daniel Larimer in 2013 for Steemit (STEEM) and then applied to EOS. I'm sorry to burst your bubble. "*It would have been another couple years if they waited to add ICS to the tech stack.*" How come other chains can do it in less time, release shared state security and communication protocols? "*Cosmos is exploding with development. It's almost too much to keep up with.*" Cosmos has been between 3-5 ranked as development acitivty for the last 12 months (always behind Ethereum and Polkadot, with a way smaller dev community than both). You can easily google this ... "*Infra takes time. UX is the difference between people staying or leaving.*" This is what's wrong with the industry now, and why chains like Solana are still at the top. Heavy UX marketed for dummies without infrastructure & security (which should be #1) is what keeps us from moving forward (but VCs love this, easy to have exit liquidity on multiple fronts) "*From what i saw Dot needs us more than we need them. Not sure if it was Parallel or the other one advertising Cosmos at the top of their site.*" You clearly don't know what you're talking about. That's Composable Finance, bringing Cosmos to Polkadot, not the other way around. Look at their XCVM tech and what it does (summary: it bakes in IBC alongside other protocols, using substrate XCM as foundation, to increase interoporability ranges and use-cases.) IBC messaging format is just being baked in by Substrate tech, alongside other messaging protocols. This is simply a superior tech being able to ingest and digest variances in complexity, you're confused on the technical side of things. "*I disagree with most of your points here"* Sure, you can disagree with technical facts, if that is your prerogative. "*IBC is great*" I can agree with this, if looked at in a vacuum, which is what I hinted to as well. "*cosmos is great, it's being developed smarter and better than anything out there.*" I mean... LOL sure, if you think that.. it's just not supported by facts, under technical scrutiny. Pretty simple, but yeah, consumers/end-users can choose to close their eyes, since the goal most of the time is short term gains rather than advancing the industry.
that's a stupid argument. If the marketcap of a coin is 10mil, you obviously can't have 100m of liquidity. As the marketcap grows, so will the liquidity. If you think that's not an "accurate comparison", I'll give you accurate comparisons. Steemit, a social media platform created to give shitcoins (STEEM) for people posting there, literally gave 10 free STEEM for every account created back in 2016; I myself created like 10 of them. At its ATH, STEEM was worth $8 each. STEEM's total marketcap reached 2 Billion+ for a while. Later on, Steemit forked into Steem and hive.io. Hive had a billion+ marketcap the past bull run, and still has nearly 200M marketcap today. Both Steemit and Hive have less than 5000 active users PER MONTH, while r/cc has 10k active users every 15 minutes. stupid ignorant newbs with their anchoring bias thinking they're the smart ones.
...and losing STEEM...
Delegated proof of stake was used by STEEM and EOS and within dPoS you need to be elected by the stake holders to be able to effectively run a block producing node. In Cardano anyone can run a block producing node without any necessary permission of others. This is identical to Ethereum. The difference of Cardano to Ethereum is the native built in possibility to delegate your coins instead of staking them on your own node. In Ethereum you need to use a smart contracts which is an additional risk. So in the end Cardano is proof of stake without any doubt.
except no actual junventis fan even knows of the token let alone hold it. Steemit and Hive.io are also social media sites that give free crypto for shitposting; their coins literally do nothing else. STEEM was 2B marketcap at ATH, Hive was over 1B at ATH, still nearly 200M right now. STEEM also forked into STEEM and Hive, so you got both tokens if you were early, which means over 3B marketcap total. Oh, btw, Steemit/Hive.io has 5000 active members PER MONTH, r/cc has 10k per 15 minutes.
Steemit and Hive.io are also social media platforms that gives free crypto for shitposting, they have 5000 active members per month. We have 10k active users per 15 minutes. Steemit forked into Hive, so you get both STEEM and Hive tokens if you held steem. STEEM's ath was 2billion marketcap, Hive was over 1 billion and still over 200mil today. Moons have better fundamentals (no. of active users, no. of wallet addresses that don't include dust attacks to make it seem like the token has a lot of holders, size of the community, etc etc etc) than most of the top 200 coins and some of the shittier top 100. If anything, moons being so low is what's irrational.
Hive and STEEM have literally 0 use-case whatsoever, and are also shitcoins given out for shitposting on their platform (they get 5k users per month, we get 10k users every 15 minutes) STEEM had an ATH of 2B marketcap, Hive had 1B+ and still has 200M+.
Delegated proof of stake was used by STEEM and EOS. In dPoS one needs to be elected to run a block producing node which is not the case within Cardano where anyone can run a block producing node and so Cardano is proof of stake. Cardano is not different from Ethereum, since the entry level for a block producing node is high according to the necessary amount of coins to successfully create blocks while Cardano adds the possibility to delegate your coins on the base protocol instead of being in need for a smart contract to do so.
Delegated proof of stake was used by STEEM and EOS. In dPoS one needs to be elected to run a block producing node which is not the case within Cardano where anyone can run a block producing node and so Cardano is proof of stake. Cardano is not different from Ethereum, since the entry level for a block producing node is high according to the necessary amount of coins to successfully create blocks while Cardano adds the possibility to delegate your coins on the base protocol instead of being in need for a smart contract to do so. Theoretically you can even run a block producing node with a few dollars on Cardano but then you need a lot of delegated coins.
HIVE is a copy of STEEM that has A somewhat active ecosystem due in part to the Splinterlands card game.
Just need to copy and paste STEEM concept and make minor changes
possible. In 2015, you could get free dogecoins from faucets; 3000 doge every 3 hours in fact. I got ~1BTC shitposting on bitcointalk back in the day. Steemit, a ghost town social media platform that gives STEEM for shitposting (much like moons), had 2 Billion marketcap at its ATH. If moons had that marketcap, moons would be $20 each. Steemit has 5000 active users PER MONTH. r/cc has 10000 active users PER 15 MINUTES. Steeemit forked into STEEM and Hive.io. So you ended up getting both STEEM and Hive tokens. Hive was worth 1B+ marketcap last bull run, and is still over 200mil marketcap today. You can't do anything with those tokens other than sell them. Just because you got something for "free" (they're not actually free, it takes a lot of effort) doesn't mean its worthless.
if moons reached dogecoin's ATH, moons would be ~$800 each. r/cc has 5 million members, doubt dogecoin had more holders during its ATH. Not saying moons will reach dogecoin ATH (it most likely won't), but just to give some perspective. If moons reached STEEM ATH (steem is also a social media platform that offers free crypto for shitposting; literally. It has no other innovation; it has 5000 active users PER MONTH, while r/cc has 10000 active users every 15 minutes.), moons would be $20 each.
Sure, no STEEMIT is the website and STEEM is their currency. It's built on Steem blockchain and people often compare reddit community points project and moons to it This is [Vitalik's post](https://np.reddit.com/r/Bitcoin/comments/14w2wo/comment/c7gztw3/?utm_source=share&utm_medium=web2x&context=3) on the idea of giving out crypto to users based on upvotes/contributions
STEEM at #7 is interesting, like Moons it was crypto users could for making posts/contributing, it later reached $8 in the bullrun Vitalik was first to suggest giving out BTC based on upvotes in r/bitcoin 10 years ago
>How. By buying pre-mined stake of STEEM foundation and using it and by lying to exchanges about steem getting hacked to vote in his own sock puppet accounts as witnesses. Then he forked the chain to remove those funds. CZ and Binance were one of the exchanges that helped Sun, later CZ apologized and Binance listed HIVE. His working with cops thing was a lie, a publicity stunt.
You haven’t heard of the STEEM debacle then.
A key point though is what you call "community". Who defines the community's will? Is it actually an equal share of influence per user involved, or do the "big players" with a larger proportion of the coin get a disproportionate influence? In the STEEM case, one man wasn't able to gain complete control, but with the Ethereum fork, something that was in the interests of a bunch of rich folks was able to get through just fine. Given the tendency of unregulated systems to centralise power over time historically, I don't think it's enough to give single instances where things worked out how they should. I think you need to be able to demonstrate how centralisation *cannot* happen, and a nebulous trust that "the community will stop it" isn't enough for me to believe that bad actors won't corrupt a system over time. There are too many examples already that show the people at large getting overridden in the interest of those at the top.
Because fork isn't a decision made by some central commitee and forced upon the users. If, IDK, Vitalik decided that eth will fork, but no one listened to him - nothing would happen. Speaking of Vitalik, he wrote about this: [The most important resource is legitimacy](https://vitalik.ca/general/2021/03/23/legitimacy.html) > In early 2020, Justin Sun bought Steem-the-company, which is not the same thing as Steem-the-blockchain but did hold about 20% of the STEEM token supply. The community, naturally, did not trust Justin Sun. So they made an on-chain vote to formalize what they considered to be a longstanding "gentleman's agreement" that Steem-the-company's coins were held in trust for the common good of Steem-the-blockchain and should not be used to vote. With the help of coins held by exchanges, Justin Sun made a counterattack, and won control of enough delegates to unilaterally control the chain. **The community saw no further in-protocol options. So instead they made a fork of Steem-the-blockchain, called Hive, and copied over all of the STEEM token balances - except those, including Justin Sun's, which participated in the attack.** > > The lesson that we can learn from this situation is this: Steem-the-company never actually "owned" the coins. If they did, they would have had the practical ability to use, enjoy and abuse the coins in whatever way they wanted. But in reality, when the company tried to enjoy and abuse the coins in a way that the community did not like, they were successfully stopped. What's going on here is a pattern of a similar type to what we saw with the not-yet-issued Bitcoin and Ethereum coin rewards: the coins were ultimately owned not by a cryptographic key, but by some kind of social contract. How does it mesh with "code is law"? Well, if market cap of eth is $1T, for example - "community" is not going to even think about forking because someone was tricked out of $100M. If someone tricks people out of $0.5T on the other hand, and basically gains half of the wealth available... well, people might. It should be obvious - even if forking was impossible (which is logically nonsense), people might always stop giving a crap about ETH at all. And then they ~all leave. And market cap drops to ~0. That's always a possibility. Code is law _within the protocol_. Actions like forking (possibly branching from earlier point in time, and in doing so basically rewinding time to an earlier point, which is doable with the blockchain.\*) are extra-protocol. \* but something like undoing a single transaction which happened months ago, leaving the remaining ones intact **isn't** easy. Which limits scope of these extra-protocol operations significantly ------------ > **Legitimacy** governs all sorts of social status games, intellectual discourse, language, property rights, political systems and national borders. Even blockchain consensus works the same way: the only difference between a soft fork that gets accepted by the community and a 51% censorship attack after which the community coordinates an extra-protocol recovery fork to take out the attacker is legitimacy. > Why is it that Elon Musk can sell an NFT of Elon Musk's tweet, but Jeff Bezos would have a much harder time doing the same? Elon and Jeff have the same level of ability to screenshot Elon's tweet and stick it into an NFT dapp, so what's the difference? To anyone who has even a basic intuitive understanding of human social psychology (or the fake art scene), the answer is obvious: Elon selling Elon's tweet is the real thing, and Jeff doing the same is not. Once again, millions of dollars of value are being controlled and allocated, not by individuals or cryptographic keys, but by social conceptions of legitimacy. > **Legitimacy is a pattern of higher-order acceptance. An outcome in some social context is legitimate if the people in that social context broadly accept and play their part in enacting that outcome, and each individual person does so because they expect everyone else to do the same.** > In any context where there's a coordination game that has existed for long enough, there's likely a conception of legitimacy. And **blockchains are full of coordination games. Which client software do you run? Which decentralized domain name registry do you ask for which address corresponds to a .eth name? Which copy of the Uniswap contract do you accept as being "the" Uniswap exchange?** Even NFTs are a coordination game. The two largest parts of an NFT's value are (i) pride in holding the NFT and ability to show off your ownership, and (ii) the possibility of selling it in the future. For both of these components, it's really really important that whatever NFT you buy is recognized as legitimate by everyone else. **In all of these cases, there's a great benefit to having the same answer as everyone else, and the mechanism that determines that equilibrium has a lot of power.** > Cryptocurrency is powerful because it lets us summon up large pools of capital by collective economic will, and these pools of capital are, at the beginning, not controlled by any person. Rather, these pools of capital are controlled directly by concepts of legitimacy.
DPoS was used by Dan Larimer with STEEM and later with EOS. With dPoS a limited amount of block producers need to be elected while anyone can run a block producer node on Cardano. Delegating is simply an additional feature for people owning not enough coins to reasonably run an own node though anyone can run a block producer node with any amount of coins. Cardano is PoS like Ethereum is maybe going to be one day while it provides an additional native delegating option that Ethereum will miss.
I’d advice you start by joining crypto communities and start learning gradually. Might strategy might amaze you. I was learning from a friend but joined a blockchain blogging platform, STEEM and also a p2e project, Cometh. These two places doesn’t require money to start off, instead you start earning crypto at some point. So with this, I started earning in crypto and now started staking…. Other things follow till this day. You might try this out especially if you don’t have money to start.
Doge was once third and STEEM was in the top 5. Some things need time to consolidate and Justin Sun has more than enough capital to keep the scam running.
> Who created that rule? Dan Larimer who was the first to implement dPoS within STEEM and later EOS. > I would not call delegating a "feature" either. Keep poor people away from securing the network sounds totally reasonable..
No it does not. DPoS is used by STEEM and EOS and within dPoS block producers have to be elected. Within Cardano to become a block producer you do not need to be elected. Anyone can run a node to produce blocks. The possibility to be selected by the system to produce a block depends on your amount of coins while there is no required minimum. Any user can choose on his own if he wants to run an own node or to delegate his coins. Within Ethereum there is a required minimum of 32 ETH to participate in staking. There is no natively implemented option to delegate while anyone with less than 32 ETH cannot participate in staking. So in both, Cardano and Ethereum you can become a block producers on your own while Ethereum requires a minimum amount and does not provide the option to alternatively delegate.
What about that one time Justin Sun wanted to take control over the Steemit blockchain and you gave him a ton on user-owned STEEM tokens to get the job done? Did you forget about [that one](https://www.theblockcrypto.com/post/57508/tron-steem-takeover-crypto-exchanges-governance-reversal-soft-fork-blockchain) or just deliberately ignornig that it ever happened?
You can go back to the Steemit hostile takeover to answer your own question. Justin Sun purchased Steemit INC and wanted to control the funds in it which were reserved for development only. He then proceeded to fork the chain and revolted against community demands that the funds stay as they are. CZ lended him all of the Steem he needed to get his thing done. What they failed to realize was that these STEEM tokes will be locked away for 6 weeks (you need to power up to vote and powerfowns take 6 weeks) and liquidity for STEEM was dry af on Binance during that period. He will justify this with "oh I had no idea it was a malicious fork" but lying is kinda his thing so...
HIVE and HBD. No premine, no bullshit. Forked from STEEM when Justin sun did a hostile takeover. Trustswap. Probably the only launchpad I've ever trusted.
Exchanges will always fuck with your funds, that's why they offer interest on your deposits. Just a few years back CZ used STEEM tokens that were deposited on Binance by regular users to help Justin Sun overtake the chain by brute force (have enough governance rights to vote out anything and anyone you don't like). There is a reason we always say **not your keys not your crypto**. Stay safe out there folks.
I recognize 18 of the 20 coins from 2016. Of course new people aren't gonna recognize them. But most of them are still around. Even things like NEM and STEEM that were once top 10 (back when the crypto space market cap was very low), have now a much higher market cap. But more coins came in with even bigger market caps.
As always you are spreading misinformation. EOS and STEEM are dPoS because you cannot run an own node without being elected. So the majority HAS to delegate and got no choice. With Cardano it is no different to Ethereum, while Ethereum is not yet ready. While you must have 32 ETH to run an own node without the protocol built in possibility to delegate, the user within the Cardano network can choose in his own to run his own node or delegate. Ethereum is clearly providing a worse experiences for the user by forcing them to lock their money and without providing a way to participate in staking for people not owning a minimum of 32 ETH. Currently the Ethereum network has locked around 10% of the whole supply in staking without a proper date when people will get back control over their money. There is not even a clear way if this is ever going to happen! Your comment simply proves that you do not get upvotes for being right but for supporting fanboys. Nevertheless facts do not change.
You really think account age means anything on Reddit? Now I’m sorry for even engaging. This is like my 4th or 5th account, people were plagiarizing my comments on STEEM and shit. And no, you haven’t been around for shit.
If you think if your wallet as storing your assets, then you're not slightly off. You're dead wrong and it could cost you a lot of money. Besides, just using "keychain" instead of "wallet" would have been smart. STEEM/HIVE do that.
Come to think of it, STEEM and HIVE call their "wallet" app a "keychain." It makes it so much more clear. You don't store anything in a keychain. Hiding your keys doesn't stop people from potentially breaking into a safe, especially if you leave that safe open or give someone else a temporary key!
The first thing that came to mind. I wouldn't buy garbage altcoins like AION DRGN STEEM FCT and other crap from top 100, I would focus on BTC/ETH, I wouldn't store coins on exchanges (hi craptopia) and I would stop trying to time the market and stop trying to outsmart the market.
In the web3 space, there are a number of worthwhile initiatives. If you're looking for a social media project, STEEM is a fantastic option; for crypto payments, Utrust is the finest option; Polkadot is another nice option. You are free to choose any of them. They're all excellent ventures.
You can buy everything with a shiny promises. A fool and his money are soon parted. That’s fine. But advising others online to do the same is shameful, especially with that track record. Imagine someone savings going all in on STEEM in late 2017 and then holding it no matter what because your video and Warren Buffet quotes helped convinced them because it was “the right project with so much potential”. It’s irresponsible. You don’t give a fuck because you’re BTC and ETH bags allow you to callously through $10k chunks at any gold veneered turd that promises the world. But for other people out there, that isn’t the case. Once again, YOU are what’s wrong with YouTube. YOU hurt this space with advice on speculative gambles. Even now, you don’t admit how these projects failed, just like 99.9% of all cryptocurrency projects will fail. Play venture capitalist with your own money, but stop giving non-financial financial advise to the internet.
How exactly do you think wealth is generated? It's by taking risks. Sure. I've made some risky calls but I stand by them because I genuinely believed in what they were building. Electroneum was trying to build the first smart phone crypto with built-in anonymity. IOTA was an innovative technology that doesn't use blockchain but rather a DAG. STEEM had the right idea of building a social media network that pays its users to write articles. It was a little ahead of its time. Publish0x has done very well. NVO was one of the first DEXes built for Bitcoin. Again ahead of its time and turned out to be a bummer. You think every investment Berkshire Hathaway makes generates them a profit? Hell no. Learn how markets work and then come back to me.
If you had put $1000 into each of the top 10 coins from January 2017, you’d have $485,000 from BTC, ETH, XRP, LTC, XMR, ETC and DASH if you sold RIGHT NOW at current lows. I don’t think you would care about losing $3000 from REP, MAID and STEEM disappearing since then.
The last bit was actually really concerning. Binance using deposited funds to influence votes on the STEEM blockchain.
Remember STEEM? It was almost a top 10 coin not long ago. Now it’s down 96%
Justin Sun facilitated the theft of 7M+ STEEM from users on the STEEM blockchai by approving a hard fork that overwrote the balances of accounts and sending the funds to a centralized account after his hostile take over of STEEM. I personally lost a lot during this theft and waiting the results of an open lawsuit for this. I am hopeful justice will be served, but my expectations are low. If you are curious about the details, there is a very good article on it by Decrypt. https://decrypt.co/38050/steem-steemit-tron-justin-sun-cryptocurrency-war I am quoted near the end of the article.
STEEM is dead long live https://hive.io
And don't forget what he did to STEEM. It's hard to even think of a person who should have a worse reputation in crypto than him.
[Zero data backing it up](https://public.flourish.studio/visualisation/8229832/) and [more](https://coinmarketcap.com/historical/) zero historical data. Holding has made *plenty* people rich yes, how many you think lost money on countless coins/crypto projects? Also, you are the one spouting conjecture though? Cause you are the one obviously [cherry picking](https://en.wikipedia.org/wiki/Cherry_picking)  Ask the people who held some MAID, BLK, ARK, XPM, FRC, NMC, OMNI, BTS, DASH, STEEM and some other shit few years ago.
Anyone remember STEEM
STEEM was ahead of its time… believe the community forked and made a new as Justin sun did a hostile take over of the network.