Bold, so Steem has a 100% chance of success? I am not that confident. I give it a 30% chance of success over the next 5 years.
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Bold, so Steem has a 100% chance of success? I am not that confident. I give it a 30% chance of success over the next 5 years.
It will keep faith! Even you don't know what is going to happen.
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The problem is that when you exclude all the accounts that are below minnow (less than 500 SP) you only have around 11,000 total active users that own SP and influence the reward pool when voting.
After realizing this, I came to the conclusion that Steem is indeed dying. Look at the behavior of those with considerable SP, they keep upvoting the same people, which leads to keeping the number of truly invested members small. The circle voting behavior on here is not sustainable, and it is killing the platform.
Rather than fix this, they created HF21 that makes the clique voting behavior worse than ever before and prevents newcomers from gaining exposure of their content or projects through curation services.
Say what you will about bidbots, but they provided an avenue for new members to build community awareness about their content or projects at low or no cost, occasionally even at small profit, which was revolutionary. On Steem it is all about who you know, well known members write absolute trash and get on the "Hot" list, while unknown members pump out quality for nothing. HF21 did not make this less of a problem but made it worse.