One of the great blast of selling supposed decentralized blockchain tech is that it is Immutable! How true is this really? By definition Immutable would mean never changing and Anyone with a little knowledge understands that Total Immutable Status simply isn’t actually what is going on. So why is the greatest selling points for many blockchains, “Immutable”?
I’m an advocate for blockchains and blockchain technology. Having recently started getting more involved in how most blockchains are created and managed I understand that having multiple people verifying data reduces risks. Why so many people laugh at a small private chain like The Steem That Tokens is baffling. As long as the central private controller is good and honest there shouldn’t be a huge issue.
Think about this for a moment and feel free to respond in the comments below. Our ledger system is open for public/member scouring. An “immutable” block chain is open for public member scouring. Many “decentralized” block chains are extremely organized centralized rule based systems! Steem That Tokens & Steem That Liquid have rules. The centralized system of Steem That Tokens is managed with a central control and predetermined amount of tokens. These rules can be changed with the vote of the masses of users. Traditional Crypto Currencies have forks and splits also determined by the masses. Steem That Tokens can ultimately reject crazy ideas that would destroy the Tokens value. Traditional Crypto Currencies would have to potentially collapse if a large decentralized group decided to manipulate the values in a negative way.
Many of you heard about the Huge Breach Of Ethereum a year maybe two years back. Where someone took advantage of some loopholes and started siphoning off large amounts of Ethereum. This so called decentralized cryptocurrency decided to override the breach and essentially block the validity of the stolen Cryptocurrency. Some got extremely upset. If you really objectively look at it you can see both sides of the coin! (pun intended) With Ethereum making a centralized move and changing an immutable blockchain even though it was for probably the right reasons many were frustrated and Ethereum Classic was created. It appears you have 2 classes of Crypto Currency Enthusiasts: Strict Decentralized Proof Of Work Non -Immutable and The Strict Decentralized Proof of Work or Proof Of Stake mutable under certain circumstances.
Are You Seriously Trying To In Some Way Make An Argument That Steem That Tokens Are As Good As Anything Else? Are You Out Of Your Mind?
NO. Absolutely not but don’t fool yourself that the others have no flaws. Bitcoin for example could easily be hacked by most small to midsize countries. “What? No Way!” you say out loud or think to yourself. This guy running Steem That.com is crazy. I’m not crazy and it wouldn’t surprise me if the main reason China and several other countries have started shutting down bitcoin mining and other crypto currencies and commandeering all of those rigs is not simply to control the masses and return tax wealth back to their coffers. They could be trying to manipulate the values as the are the largest miners now. Isn’t it extremely likely that large countries and especially countries with severe trading restrictions with the rest of the world will at some point join forces and try to create a super elite class and steal the wealth generated by the first technology revolutions!
By now you are reading this article and thinking, “Ok, You kind of have a point about this but it is completely conspiracy theory.” While others are going all in because of these great gains of Bitcoin, Ethereum, Litecoin and others, I’m being extremely cautious and looking at less vulnerable options like STEEM. Is STEEM a sure bet? Goodness Gracious No! There isn’t a sure thing with crypto currencies. Most are pump and dump schemes in my opinion. Many are legit and are doing remarkable things without drawing too much attention and growing slowly but surely and if they can hang on long enough I think will do extremely well as people start moving out of the bubbles and into larger stakes in lesser known but semi stable options.
This is just one mans perception of what is coming and I am not an expert and you should not take my advice and make any financial decisions based off of them. I suggest you seek the advice of a competent professional for all of your investment advice.