The Lesson Of Tesla For Steem
I have been watching Tesla for a lot of years. It was always one of those companies that caught my attention because of what they were trying to do from a technological standpoint.
Anyone who pays attention to the markets knows that Tesla's stock is on an incredible run. For much of the 4th quarter, and already this year, the stock took off. It is up more than 100%, now pushing the $600 level.
What was the cause of this? Was it because the company finally turned a corner and people understood the progress the company was making? Or could it be nothing more than a massive short covering since it was one of the most heavily shorted stocks on the market?
I cannot answer as to what the cause was since I learned long ago, markets have a mind of their own. What I do know about Tesla is there are some valuable lessons for everyone who is involved with Steem to take away. In fact, it could pertain to the entire cryptocurrency industry.
Tesla is upsetting to many businesses. This is not going to make one well liked, especially when said businesses are extremely powerful. If Tesla is successful in the push towards electric vehicles, this could really affect the oil companies. Thus, they would have a lot of incentive to stop, or at a minimum, slow down, Tesla's progress.
At the same time, if Tesla is able to pull off autonomous driving capabilities, this would certainly impact another multi-billion dollar industry known as insurance. In a world were a significant portion of transportation is accommodated by ride sharing, this will substantially lower the number of insurance premiums that exist.
Hence, here we have two very powerful industries who, quiet frankly, like the status quo.
We see a similar thing with the banks and governments. They are, for the most part, very happy with the present system. Their power is consolidated in such a way that they do not want anything to threaten that. Cryptocurrency poses a risk.
For the banks, we are already seeing how an alternative financial system leaves them in the dusk. They simply cannot compete since they are renters extracting from every layer of the system. This removes a great deal of wealth from the general public which ends up in their hands. From there, it is moved into other assets, giving them far greater control.
Governments, on the other hand, liked the direction of the financial world. As we moved away from cash, transactions are easier to follow. This means tax collecting because a more lucrative venture. It was not as easy to hide monies from the government as it use to be. Cryptocurrency, especially those with privacy, make it a lot tougher to trace. We see a massive move from governments to try and collect taxes on cryptocurrency. Sadly for them, while they are focusing upon taxation, they do not realize that new models of governance are being established.
Steem, in my opinion, is a large part of what is going to take place moving forward. It is a blockchain that is going to be an important part as long as the development keeps evolving. We are seeing a lot of potential in this platform already, some of which is starting to be realized.
So far, Steem flew under the radar. Outside a few asinine articles, the attacks on Steem, in particular, are limited. This is what happens when one stays out of sight. The same cannot be said for the cryptocurrency industry in general. We are about two years into the FUD campaign that I will admit was rather successful.
All that said, there is the lesson of patience. Tesla is a company that is nearing two decades old. Without looking it up, it brought out its first vehicle a little over a decade ago. From there, it expanded the product line, using each new success to fund the next one. Along the way, more cars were sold helping to validate this approach.
Of course, there were a lot of challenges. A number of times, Wall Street had to be tapped to keep the company afloat. This is not uncommon but it did give the naysayers plenty of ammunition. The fact there was no profit being turned keep people wary. It does bear mentioning that Amazon followed a similar recipe of low-to-no profitability while investing all proceeds back into the company.
It obviously worked out very well for Amazon, so we will see how it goes for Musk and Tesla.
What we do know is that those who were committed to the company as long term holders, so far, are rewarded. With a price of near $600, those who bought the stock for under $100 are sitting in a fine position. They ignored a lot of the attacks from the outside while believing in the vision even before it unfolded.
To stand in there with Tesla, it required seeing things as they were going to be even before they happened. This might sound obvious but the reality is the vision was, at one point, so far-fetched that it was unimaginable to most people.
Steem also has that quality to it. I do not believe that many can see what is unfolding here. The entire cryptocurrency industry is so new and different that it surpasses what most can comprehend. Crypto-economics is like something we never saw before and that is shaking people up.
For years, it was said that Tesla was a scam. It was worthless. Bankruptcy was in its future. We heard similar things said about Steem. The price is going to zero. It is a scam. This is a worthless blockchain run by idiots.
Yet in spite of all the accusations, like Tesla, Steem is still standing. Development is still taking place and we are growing. Each day, tokens of all kinds are being issued out which helps to provide greater abundance to individuals. Those people then have a choice as to what to hold onto and what to swap to another project.
Patience often seems to be lacking. I believe this is because people do not understand how early in the game we truly are. This is not something that is going to change the world in 3 or 4 years. It is going to take a lot to get to the point where things are disrupted on a grand scale.
Musk did not give in to the naysayers by throwing in the towel. When they said nobody wanted electric vehicles, he did not turn and start producing ICE. He held the path believing that EVs were the future. While we could say that is still up for discussion, recent progress is showing it is more likely than before.
Could we see the same happen to Steem? It is plugging along, looking like a broken animal to many. However, those who are involved have a sense of what is taking place. In my view, Steem is far from broken. With the amount of development and things that are set to roll out, the blockhain is in fine position. That does not mean there are not some issues but the basics are in place.
This means that there will come a point when the public will wake up and realize that all the FUD was either misplaced or surpassed. Those who are patient, I believe, will be heavily rewarded. Again, this is not something, from a development and disruption standpoint, is going to happen overnight.
Sometimes, all that is required is to keep the present course and allow time to work its magic.
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Posted via Steemleo