Steem Scalability !!!!!
Whales are getting much more than expected, new users are finding it difficult to even sustain on this platform.
Reward pool is decreasing on every 250k blocks as well as it has fixed amount of STEEM in its reward pool. Users are flooding like hell, so What Will They Get From Here ??, Just Pennies !!
What if it onboards the same numbers of users that facebook have. How It Rewards Such A Big Numbers Of It's Users ??
Sorry to say but I think that it doesn't have the potential to compete with facebook, it doesn't have the potential to reward it's users.
I have given the idea that "Instead of using Steem Power as the method of determining the reward amount, We can bind one vote to fix amount. Steem Power will be just used to allocate bandwidth, The more Steem Power a user have the more he can post on this network.
You are missing the main point here. The more users onboard, the more investors onboard and the more 1 Steem will be worth.
With 200 million users you might only get 0.1 Steem per post, but if 1 Steem is worth 1000 dollars, you'll still get a decent reward.
1000 dollars seems a bit to far fetched, more does not mean better.
I just took a huge value for the Steem value and a low value for the reward just to make a point.
The values are not supposed to be realistic.
I figured as much but yea, I am not dying steem is going to be amazing in the near future.
The work and reward some one gets on here is better than any coin out there.
Thank You for explaining👍
Steemit is growing by the minute, everyday.
You seem to be missing the point as well. More users does not mean more investors/value.
That's not entirely true, the more users there are the more interesting Steem becomes for investors. For sure, it also depends on target groups etc. But the more users there are, the more potential target groups there are as well.
Indeed. So it doesn't mean more value. It means there might be more value. That's not the same. It's not like selling cars where selling more means more profit. I didn't mean to drag this open. Just wanted to point out there is no one to one relation.
Of course not, and I'm pretty sure that people who post nothing of value will get way less than they get now, because their share will be smaller, but that people who post things of value will probably get more since the userbase is bigger which brings some sort of bigger investments with it, even if not 1:1 related.
SMT is a fix for this I assume, if Steemit Inc pulls it through, than community tokens and proof of brain will succeed.
That's a really good idea for making it easier for new people to get traction on here when no whales (or even dolphins) are following them to give them bit upvotes. And while in some ways this is a side conversation, since this post is really about scaling the tech, not how to increase the size of the user base, the two are definitely related. So let's play.
So yes, would be good to give new people a chance to more powerfully upvote each other the same way old-timers can powerfully upvote each other. However, there is also something to be said for providing someone who has invested their own money in the platform with some additional stake in things like how rewards get allocated. The same goes for those who have invested many months of their time in posting and growing quality content on the platform. I don't think bandwidth, the ability to post more, is adequate compensation for that investment.
And speaking of investment, we also want STEEM to be an attractive one, even for people who don't intend to post. It may seem like SP wouldn't matter to them at all, but not so, because now they can delegate their SP at an interest rate of about 25-30%. That's a darned good return! In fact, I'm currently developing an advisory relationship with a socially conscious investing firm, and guess which coin I'm going to be recommending at their #1 play! But this only works if other people have a reason to pay those returns to them to buy their delegated SP. And the only reason someone buys it is so that they have bigger upvotes.
The problem is for people who have no money to invest at all and also haven't been here that long, so haven't invested sufficient time either. I don't know that there is a way to equalize for that, or if there even should be. Might the initial SP delegation be bigger? Yes, I think that would be good. I think now the investment of time needed to get any traction is just too long. I also think that delegation should remain longer after the person starts buying small amounts of STEEM they can afford. Right now if you buy only $20 of STEEM you basically just replace some of your delegated amount with that. You get no additional upvote ability. Ouch! I keep trying to explain to people they need to invest at least $100 to get any kind of decent upvote, but not everyone has $100. Do we not want them on STEEM dapps?
So there is definitely room for improvement in how we scale the user base successfully without churn. But I don't think it's as radical as decoupling SP from upvote power.
Hmm🤔, true.
Exactly what I thought @raycoms.
Even if we still get pennies, that would mean that the project is a (sound) success.
Steemit is a big success indeed.
✔️
I disagree about Facebook.
Facebook cannot compete with Steemit.
Facebook is just a waste of time, while Steemit is a community of Supportive people who look out for each other.
I've made more resourceful friends here on Steemit than on Facebook.
Facebook is a lie.❌
Steemit is the real deal.✔️👍
True. Steemit >>>> Facebook.
Definitely.