It's the inflation. I never invested in Steemit but by my account was worth about 800$ when I quit. When I came back my Hive is now worth about 50$...
I like Hive for the learning about crypto and meeting interesting people aspect, but as an Investment its a pump and dumper at best.
Btw Im predicting a massive pump for Steemit, Hive and/or Leo since blockchain+social media is a pretty powerful thing. Just make sure to jump the ship when we get to 10$ per Hive and 50$ per Leo
One of the USPs of HIVE as of STEEM is immutability and censorship resistance. As most of the articles are click baits or simple links to other platforms there is maybe only limited value in it. A blog platform needs an AI to suggest articles to users. The voting system of HIVE supports only tribalization and does not offer any incentives to implementors of intelligent systems.
not sure if I agree with bringing in an AI but the tribalization sure sucks
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I think you are right about this and the long term downward trending prices of Steem and Hive implies that you are right.
Back in the day when Bitcoin was still new there were a lot of blogging communities that were just creating a ton of click bait. These sites came to be known as "content farms". People were just creating trash content that was design to exploit Google's search algorithm and run a ton of ads to collect money for the site owners and give some revenue share to people posting "content".
Google got hip to this and changed their algorithm to prioritize quality and the consequence of this was that most of these content farms started to lose page rank and ad revenue.
The mechanism for curating and selecting for quality on most of these blockchain blogging platforms are upvoting which has lead to tribalism or people creating new communities. I don't have a problem with people creating communities, but it seems like the more popular communities evolve their own front ends and 2nd layer coins that seem to be all in service of just more tribalism--a tribe within a tribe.
So far you are right about AI. Google does a better job of serving up "relevance" and "quality" than any other mechanism. This pure voting mechanism is never going to work because it relies on the "wisdom of the crowd". Sometimes the wisdom of the crowd works, but sometimes it just incentivizes non sense articles like:
"(Insert crypto here) is going to pump 10x" or "Influencer CryptoSomebody says, Blah blah blah" ...
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I wouldn't mind it at all, the question is whether a 100x in price is justified in terms of the development of the intrinsic value. I think that is very optimistic, if you consider that you then have to assume a market cap of around 5 billion.
Would agree with you that that can be powerful. However, I think the degree of maturity is still expandable and whether this power is understood by the majority of social media users is also questionable. Currently, this platform is uninteresting for "big" content creators in my opinion, because no user base can be reached and immense conversation barriers concentrate with regard to the already existing user base. Sure, you have a few rewards here, but let's be honest - compared to what you can make with real reach on a platform like Youtube, these are rather pennies in the end. How do you see it? Do you think Hive is really interesting for people who are not from the cryptospace and have been in content creation for a while? Do you think it's interesting for consumers who are not from the cryptospace. I think no, and I think that needs to change.
Feel free to share a little bit more. ;)
well we still have @davidpakman and @rt-international, there have been many more though.
I think one of the strong suites is that people can get in touch with crypto, earn a few coins and understand the science, at least the very basic of it.
I think the aspect that you can reward your favorite content creators and they can give back to their fans is a cool feature.
I see the coming Boom more from a technical standpoint more than one based on inherent value. Steem peeked at about 10$ when we had an irrational run-up in price. I expect a similar thing to happen again. SBD has been out of whack for some time now, which was a precursor to the last Boom
This reminded me to keep some liquid Hive on hand just in case things really go to the extreme. ^^
Is there something like a reminder bot here that can give us a reminder in X months here?
!remind
or something?
I think 3 Billion Market Cap for LEO might be a top I would have my eye on, powering down at 2 Bil.
With a 1 Trillion Market Cap and Leo maybe becoming the "portal" for many this is very possible imo.
Given the current number of users, I think that's a very bold estimate. All these small forums have more users than all Hive front-ends together... I absolutely don't see how such a market value should arise at the current state of development. Even if the mentioned spike comes about, I would see it in much lower heights.
the cool thing about snowball-systems: You might see avalanches