In the last two weeks the market price of Steem has risen more than 50%... TWICE! It was one of the top gainers of all cryptocurrencies, and unlike previous bull runs, it seems to be holding its price a bit more reassuringly. The bulls are back in town for Steem, and I'd like to share with you why I think this is happening. There are several reasons, and the effect of them all happening in unison is very powerful because we are talking about some of the biggest companies in the world who are right now facing an existential threat because they are not only too big, but are also too centralised.
As we all know, one of blockchain's great features is that it can allow a far greater decentralised distribution of power, with anyone being able to rise up or influence things at any time. Steem in particular is very interesting because it is not only decentralised in the real sense of the word, but it is also possible for people with no money to gain influence and even rise to the top. It may not happen every day, but it can and does happen. I realise that some people feel that Steem IS centralised, but I disagree. I would say it is hierarchical, but is very far from centralised!
Steem is also fascinating from a commercial sense because it really does turn things on its head! Take for example advertising! Steem Inc allows advertising within its ecosystem in the form of voting bots, but doesn't take any cut of the profits. It also doesn't need any advertising money to operate and thrive. Not only that but those who do advertise not only receive exposure and a potential listing on the hot or trending page, but also receive their advertising payment straight back in the form of an up-vote .. and sometimes even a profit!
Now let us look at what has happened this month with Facebook and how it relates to the sudden and huge rise in the price of Steem. Facebook has been in the limelight like never before this past few weeks. The recent focus has been its inability to control it's billions of users private data from being captured by Cambridge Analytica. This data breach is one of the worst kinds of breaches because it can be used in very manipulative ways, and includes data from a Very large percentage of the entire worlds population!
Did any of you watch Mark Zuckerberg's testimony on Capitol Hill? That was an eye opener folks! I have to say that the the US Senate should be embarrassed at how little their leading senators know about technology, or how Facebook, or even the Internet works! One or two of them knew absolutely nothing, and few seemed to have a very loose grip on the basics. It was clear that the Senate has NO interest, desire, or I should say competency to regulate Facebook, because they don't understand the basics of what Facebook are doing, or the implications of any regulations. They are all from a generation that simply don't understand technology.
The problems for Facebook go far beyond user privacy. We have to be aware of the platforms ability to influence and manipulate the mood, opinions, and even voting behaviour of an entire country. In January 2012, Facebook conducted an experiment on 689,003 randomly selected users that altered the quantity of positive or negative posts in their news feeds. That is very disturbing! In the recent USA elections it has been determined that Russian Influence Reached 126 Million Through Facebook Alone.
Now lets put Facebook aside for one moment. Let us now look at You Tube, another great behemoth who have grown so big that they can complete with age old television itself! You Tube are facing huge problems with their entire business model and are starting to see a significant number of its users depart. We are starting to see some of them come to the Steem blockchain now, like @furiouspete123, who has 5 Million Subscribers on You Tube, and is in the process of migrating his user base to Steem. The You Tube business model is based on advertising. Is there anything good to be said for advertising? Not really. Bill Hicks the GREAT enlightened comedian used to say..
"By the way, if anyone here is in advertising or marketing...kill yourself...you're the ruiner of all things good...you are Satan's spawn, filling the world with bile and garbage...kill yourself"
He was a smart guy that Bill. You Tube IS killing itself, because it has grown too big, too powerful, and is too centralized. People have lost free speech, and can be demonetised (lose their income) at the flick of a switch. People no longer feel safe on You Tube, and are having to censor themselves and every word they say due to advertising compliance. New users are no longer even eligible for monetization until they reach 10,000 subscribers and so there is very little incentive for people to start creating content for the platform.
If we look at the biggest problems corporations are facing today we can see that Blockchain technology really does have the answer to most of them. We can eliminate nearly all of the worst effects of Free Market Capitalism by using Blockchain technology, namely corruption, inequality of wealth, inequality of power, profiting from users private data.
Steem, Dtube, Dlive, Dsound etc are leading the way out of the rabbit hole and into the garden of eden. When you consider the effects of even a few people like Casey Neistat moving to the Steem blockchain, it's easy to see how the Steem price could be soaring this year. On top of all of this we also have the expected Smart Media Token releases happening mid 2018, and let us not forget the long awaited Hard Fork 20 that we will being some great new features like communities to Steem. Now take all that, and combine it with the very real possibility of another SBD pump, and you have a recipe for a very prosperous 2018 and beyond. If you look at the charts of SBD you can still see real signs of bullish behavior rather than a pull back to $1.
So is it any surprise that Steem is on the rise? Right now it doesn't even have much if any competition! Anyone looking to try out a blockchain based, decentralized, social network system has to try Steem! Ethical advertising is something that is unheard of in the Free Market! On Steem there are many initiatives to improve the quality of posts and bot voting. @roelandp has just posted about a fantastic tool and website to allow delegators to find the best projects and ethical voting bots here on Steem.
Introducing: SolicitingPower.com - a gallery of Steem projects worth supporting
https://steemit.com/steem/@roelandp/introducing-solicitingpower-com-a-gallery-of-steem-projects-worth-supporting-with-your-delegations
Steem is still very new and evolving. We may not know exactly how it will look in a few years time, BUT it is US who will decide through community consensus, and not one invisible, untouchable fat cat. So how long will we have to wait for another 60% rise on the price of Steem? I don't think long, so you had better get buying some fast! And that IS financial advice! lol!
Thanks for listening. I'd be interested to hear your comments on this hot topic. Do you think Facebook has had it's time? Will the world still be using it in two years time?
Whilst you're here, I have just launched the @ecoTrain Sustainability Voting Bot. We are supporting high value posts, and initiating real world eco-building workshops.
How to bid and up-vote a post:
Send any amount of SBD or STEEM between 0.05 - 1 to the @ecoTrain account with the URL of your post as the memo.
1.Go to your wallet: https://steemit.com/@USERNAME/transfers.
2. Click the small arrow beside STEEM OR STEEM DOLLARS and choose TRANSFER
3. Transfer 0.05 -1 SBD/STEEM to ecotrain, put the URL of the post as the memo. i.e https://steemit.com/ecotrain/@eco-alex/a-.....
4. You will receive an up-vote within around 2 hours.
5. Advanced users can use @yabapmatt 's bidding tool at https://www.steembottracker.com. Just move the 'vote value' slider to $0 to see all the bots.
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Yes, as I said after watching his question and answer session with a bunch of paid off congressmen asking him nonsense, he stated "he does not know who his biggest competitor is".
I think it is Steemit and other social media that will gamify the experience by rewarding users for their content as steemit does.
https://steemit.com/facebook/@titusfrost/facebook-s-biggest-competitor-is-decentralized-apps-like-steemit-and-minds-deletefedbook
People will wake up sooner or later. Decentralisation will take place . Now lets hope blockchain scales fast enough and we can work together to make steemit a real competitor of social giants and give people a better service .
That would be great if Facebook users started using Steemit instead, it could be huge. Thanks mike
And in the 5 days since your post, @eco-alex, it has risen a further 45%.
I am interested in a development roadmap for Steemit. Do you know if one exists?
well spotted! yes it is rising fast right now ;-)
as far as i know there is no roadmap, because its anarchy and decentralised,, so its up to US what happens here! SO far its looking promising!
Hi @eco-alex
Great post, thanks for sharing.
I'm always torn in this type of situation between 'they are all in it together and this is just one big pantomime to continue to pull the wool over everyone's eyes' to 'bunch of Grey suits that have lost touch'. I think it may be a bit of both, with maybe a slight leaning towards the former.
We all now realise that Data is a massive commodity and I think we are all being duped into giving out personal information on a regular basis not just on Facebook. Anytime you sign up for anything whether it be 'free' internet access or buying a new car, you are providing that entity with a huge database of your personal info. I imagine the first people that have demanded to receive this information first is the Black suits behind the 'out of touch' Grey ones. I suspect it's a type of deal where they receive the info first and then turn a blind eye to the selling of it to other 'parties'! Pantomime!
As for Steem, I totally agree with your future predictions and some of the predictions in the comments. The use case is there and in full working order which makes it streets ahead of most other Cryptos. I also think, as you rightly pointed out, that Steemit will directly benefit from Facebook and other similar established set ups that are shooting themselves in the foot and users will start to migrate over to decentralised social media soon.
It is an exciting time and I feel rather lucky that my interest in Crypto has lead me to Steemit and to this great community. We are working hard for ourselves but also together we are making this place a success for everyone and that feels good.
Thanks for inspiring me to write this and good luck in your journey.
Cheers, Gaz.
yes! great article. and how refreshing to see the price of steem and sbd rise again! yes!!
i totally concur with you here. i have deactivated my facebook account. the interactions (and the fact that i can earn here) make it a no-brainer for me. when the data was breeched, it was the last straw! why put up with that kinda crap when i can be over here inspired to interact and create content on a decentralized platform where WE earn, not these bozos?
you said it!!! There is nothing to compare between the interactions I have here on Steem compared to FB. ugh! I dont even post on FB anymore.. ALL i post is links to my steem posts! ;-)
I completely resonate with the facts, observations and opinions you have made in this post. About the question of Facebook being here 2 years from now, I believe, the world will keep using it even in 5 yrs time. But I also believe, that the numbers of people using facebook will be drifting low gradually and better privacy concentric options like steemit will keep growing. This will gradually keep happening on one condition; people begin to value more their privacy and lay to waste the too much centralization syndrome brewing through every part of the internet. Personally, my Facebook account have been inactive for a long time now, I only use Whatsapp because there are no better options right now. Thanks for the post, loved it!
thanks a lot kryptocoin! Glad you see the light also! i also agree it will take time for the masses to drift from their womb like comfort on FB..
have you tried telegram? its getting popular these days.. and isnt owned by Facebook!
Yeah, I tried telegram when I needed to speak with Binance customer service, but didn't really use it that long. Guess I'll be looking into it with a more keen eye now. Thanks for the suggestion
You can replace whatsapp with signal messenger it super cool.
@eco-alex am I no member of the ecotrain any more? 😪
! @likedeeler missing from the ecotrain!? never!
also, sharoonyasir doesn't have a hyphen ;)
Yeah, and while we´re at it, stillwatersart lost her final t! 😎
i was just testing you.. you Aced it!
oops! it has been fixed! i removed you as conductor but forgot to add as passenger
I think steem will become one the top 10 cryptocurrencies in the future.
Because everyone likes this platform and new users joining each day. LET'S MAKE STEEM BIGGER.
your blog is very beautiful.
we support u a lot so you should also support us by up voting my post or comment.upvote me once in steemit with 100%vote pls once in steemit upvote me like your i will be so happy upvote my post or comment
come on Please stop this already.. Find a way that works!
Please read this!
https://steemit.com/steemit/@eco-alex/what-is-the-best-message-you-can-write-to-someone-new-on-steemit-who-has-just-posted-on-the-introduceyourself-tag-ecotrain
Thank about information, useful for me
@eco-alex upvote me once on my post or comment ... we are your supporter
Sir your info is very useful for me. I am new to steemit & i love to write. & i wants to join the ecoTrain community.
We watched the testimony yesterday @eco-alex and it was actually laughable at how many times zuckerberg just simply couldnt give a straight "no beating around the bush" answer. His entire demeanour throughout was so dodgy to say the least.
Terimakasih atas informasinya, sangat berguna bagi pengguna steemit. Sukses selalh untuk @eco-alex
steem coin is the future millionaire cryptocurrency coin .....
I see that From one year !!
thanks for very informative article @eco-alex
As a small investor in crypto, I believe in Steem because it actually makes something, it's just not "another coin". It is the most transacted coin ever, because it's part of a bigger work!
The same will happen, I hope, for EOS and some others
wow that's a more awesome post from @eco-alex. Still looking for more. Thanks for sharing with me.
Fabulous, awesome piece of information you have shared .... thanks
I love reading this article. Steem is my number one social platform online now! I'm even going off of Instagram now! Steemit all the way :) I don't get many upvotes etc, but I know in time it will come, plus I can't wait to start uploading on to dtube and dlive! :D
Do you power up your steem? I only keep everything in steem power... Is this good do you think for the best way to invest for big future profits?
I love reading this article. Steem is my number one social platform online now! I'm even going off of Instagram now! Steemit all the way :) I don't get many upvotes etc, but I know in time it will come, plus I can't wait to start uploading on to dtube and dlive! :D
Do you power up your steem? I only keep everything in steem power... Is this good do you think for the best way to invest for big future profits?
Hello @eco-alex. What a nice post. you just said it all. Steemit will rule soon in social media interaction. Thanks for sharing
What worried me most about the testimony hearing was how out of touch a lot of the senators were, clearly just reading questions some intern prepared for them. It's no wonder government is so out of touch reality with regards to crypto.
yes, well its not surprising also.. it just goes to show that they really are not running the country! they dont even know what is going on!
Yep!!!
Oh they know what is going on. It's just that what was going on this time didn't fit their agenda. It was perfectly okay when Obama did it....not so much Trump.
well, those who really control things Know whats going on.. but those senators had no clue! nada! You cant fake being that ignorant! ;_)
Thanks for the news story. I must have had my head down because I didn't know this breach happened with Facebook. And thank you for the pep talk about steem. I think everything you said is true about not having competition. Steems price being influenced by bitcoins price moving up, and if that trend continues it also suggests that bitcoin has no competition. I don't mean from any of the altcoins, I mean from government currencies. Ever since private currencies were banned governments had a monopoly, now the monopoly cannot compete with decentralized currency, just like facebook cannot compete with steemit. They only chance of competing is to maintain their grip on fear or complacency.
Thanks @eco-alex. Time will tell whether or not Steem will remain the main decentralised social media platform or not but you're right in that there is little competition at the moment. I also agree that Facebook's and Youtube's days are numbered. I'm actively moving away from Google's products now (proton mail, duckduckgo.com etc) and I'm seriously considering deleting my FB account. I'm excited to hear that there will be a communities offering on Steem soon as that is one of the main reasons I haven't deleted my FB account yet.
I'm relatively new to Steem but will check out @ecoTrain
Thanks for the info.
Cheers
Alan
thanks Alan.. welcome to the party! Deleting FB is hard because they trapped your contacts and you cant reach them any other way.. I remeber abour 6 years ago facebook changed ALL our private email addresses to facebook email ID;s.. and from that day on i had less and less if my friends email ID's .. I almost never email most of my old friends so if i close FB down its a REAL problem.. therefore I just keep it as an address book, lol!
best of luck here!
This a great time for Steem. All the people who powered down and cashed out when steem was 1.50 must be kicking themselves
This is such a happy news for me and reaffirms my faith in Steemit. Sorry i have been absent lately- too much work on my end. Trying to make a good comeback. Missed being on your blog <3
Yeah I watched that interview. It's very very very embarrassing. I thought to be a Senator, you need to be intelligent or at least know what you're doing but it clearly is not the case. Those Senators absolutely know NOTHING about the technology or even just the potential and influence of it. It's really sad but those Senators need to study harder and update their stagnant brains.
Thanks for the informative article, eco-alex!
I was wondering if you might clarify what you mean when you mention "ethical voting bots".
I'm newish to Steemit. Thanks for the opportunity of input!
well, it just means that the bots do more than just focus on ROI.. SO they may promote GOOD posts, OR have some of the profits going to good projects..
Great post. Thank you for sharing these kind of infos. Don’t hesitate to check my blog for important posts !!
Hi, I just followed you :-)
Follow back and we can help each other succeed!!@romyjaykar
i think it will grow up more
steem is the wave
Interesting. Is that sophia speakin.