Crypto DOES have use-cases, but they're often sabotaged by toxic actors

Today, I want to bring you a sad story about the fledgling chain, Steemit.

Steemit had noble origins, its creators planned a social media network to rival Facebook or Reddit, but where you could directly monetize your content, which was all hosted in a completely decentralised manner on decentralised servers using decentralised storage.

The platform worked for a while, it was also connected to a decentralised version of YouTube called DTube which had some success.

Unfortunately, the performance of the app and the user experience were... janky, to say the least, with many different private keys and long loading times. Crypto was also a different place 3 years ago and we didn't have the same plethora of level 2 options we have today, so fees could also be crippling.

The final nail in the coffin was when none other than Justin Sun, the recurring villain of the crypto space initiated a hostile takeover of the chain, buying up enough of the token to take over the chain and the code base.

Steemit has since been forked to a community project named Hive, but it's never regained the same popularity or hype since Justin essentially nuked it from orbit in yet another futile attempt to stay relevant in crypto.

My hope is that similar platforms are one day launched with better outcomes than steemit.