I feel plenty of us have learned through this forum, in one way or another, that the duration of risk is important.
What happens in between the duration can impact the return/reward making the terms change.
I might be wrong about Steemit and kick myself but I think its beta version is just promoting blockchain + forums + crowdsourcing. Not the worst thing in my opinion to happen with these technologies. Not impressive enough for me to invest in. The forums and subs turn into artificial echo chambers quickly since the monetary incentive was very real (still is?). To witness some posts giving users $1-2k+~ish in Steemit in 24hr was telling of its hype.
The market shows everyone interest between the end of June to mid July. By August the allure was gone and then the decline went on: http://coinmarketcap.com/currencies/steem/
It feels like the developers were also not prepared as they asked for other ways to improve the software. I think they’ll parts of the system to other more popular providers eventually in years to come.
I get the impression on some blockchain/coin/asset projects that the teams are utilizing the crowd-sourcing data accumulated to develop the product/protocol for others intent not publicly made.
Steemit feels that way currently. Zcash feels that way and has some odd names pushing it as well. Good and bad depending on perspective.
My advice if you see a technology in Zcash or another coin you want to see go live. Mine it at just the cost of that time + electricity, easier to risk in my opinion. The coins main feature its pushing to me is being decentralizes and annon. Feels like these investors and this team are experimenting with a technology on the open market.
Wait for a cheap exchange rate on Polo
Eventually it will better define itself.