"There are few steemiens with over 70 rep. saying steemit is already dead. I hope it’s not true."
Is what I read in the comments section last week, I think it's preposterous, negative thinking.
I Can See Why People Think This, But
Value Loss
We've been in a bear market for months now (apart from the last day which has seen rises of 50%), a lot of users are feeling the pain after SBD and STEEM dropped from
as high as $15 to as low as $1.50!
A lot of users even cashed out and stopped blogging all together, is that the platform dying? No, that's the process of weeding out the fakes who are only here because it's profitable at the time.
They've now lost their followings and may have to start from scratch, the people who stayed are gaining a larger share of the reward pool and ultimately are making more money if they hold on till the next price surge.
Why else might people think steem/steemit is dead?
Just Looking At The Trending Page
The growth and prevalence of bots in recent months has caused a lot of worry for users who've been here since the early stages, we've seen shitposts by the likes of @chbartist (for example) upvoted to the trending page using bots multiple times a week.
It's hard to forget though that steemit is a financial instrument as well as a social network. Paying for votes is essentially steemit's advertising, if someone wants to advertise here, they need to BUY steem through an exchange or earn it with hard work, that's the reason STEEM and SBD have value, people want a higher stake in the system, they're investing because they believe in it or they want to buy views - hopefully to make some money, ultimately, bots help draw in business and increase the value of STEEM/SBD, and take the place of the 'promote' feature which I don't think anyone uses.
I think if bots were used, the post should be put on the 'Promoted' page rather than the 'Trending' page... But i can't imagine anyone being too happy about since the post at the top of the trending page right now had $40 spent on promotion and only recieved 50 views and $0.10 in votes.
Thinking about it, the only way to get people to use the built in promote feature is to make it into a vote selling service of sorts.
There is also a certain whale who's been upvoting a certain Technical Analyst up to the trending page for a while now, this won't last for long, already there is a community of us fighting against their reign of terror, oppression and reward pool theft. More and more large users join the fight every day..
More Reasons Why Steemit Is Just Experiencing Teething Issues Rather Than A Death
It's Use As An Actual Form Of Payment/Replacement For Banks
Last week I read a post by @jaraumoses which explained how in Uganda, you can make 3x more than an average wage just by blogging here. He also mentioned that Ugandans often use it to pay each other thanks to the extremely high bank transaction fees there.
You might not see it the same way I do, but to me, this shows signs of an international currency, a way to close the wealth gap between developing nations, and people truly replacing banks with cryptocurrency.
Steemit Is The Easiest Way To Make Money Blogging
Many of you will have tried running your own blogs with sites such as wordpress or maybe by hosting your own site, and it can be astonishingly difficult since you have to worry about SEO (search engine optimization) and hosting costs, and attracting an audience among other things.
So for people already running blogs, or people who want to run a blog, steemit is a life saver - you don't need to concern yourself with any of the complexities or technical aspects, all you have to do is create your content and it instantly becomes available to a large audience, then you have the added bonus of networking to attract even more of an audience. By this logic, steemit can never really die under current circumstances.
Even As Tokens WITHOUT The Social Aspect, STEEM/SBD Are Superior To Most Cryptos
How often do you find a crypto that has NO transaction fees?!
Like, never?
What about transactions in 3 seconds?
That's also rather rare...
Can send payments to your friends or favorite content creators using an easy to remember and pretty handle like @sisygoboom?
Never seen it done before.
Strong development community?
We've got one of the best.
I could go on, but you get the idea, even without the social network, the tokens we rely on are vastly superior to most other cryptocurrencies.
Yes, There Are Flaws
Even with the flaws of the steem ecosystem, it's easy to forget that we haven't even left the beta phase yet, do you think steemit was perfect when it came out two years ago? Probably not. It'll take a while to iron everything out.
A complex machine such as the steem blockchain and steemit.com require way more than two years to perfect.
There's always work to be done, and the developers at Steemit Inc will always have our best interests in mind, it's my belief that we can trust them to do what's best for the platform, the currency, and us.
Hi Sissy,
this is a good post, interesting you wrote this after the Big SBD run-up, nothing like good timing to make other's think twice eh? reply so i can give you some fat love for not seeing this before.
Thanks DJ; the timing did play a nice part in getting the point across but it was largely coincidence haha
sometimes luck is it's own reward, keep the faith sissy, btw. how is the planning for round 11 entries coming along?
Also need you to start scheduling your time to guest judge in either round 12, 13 or 14, just choose 1 slot... i really want to see you deliver the results as your curation was really good when you guest judge!
remember, you're an ambassador not just for your generation, but for all of her majesty's secret service.... ok maybe just all of Great Britain, no pressure :P
Oh yeah, I've been super busy with my coursework hand-ins being all over the past couple of weeks, thankfully I'll be able to get some more free time now since I've only got one more piece to hand in next week.
So I'll gladly do round 12 :) and don't worry, I've got a couple more funnies on the way
glad to hear you're down to your last hand-in...... ok, go tell @take5 in the judge's bathroom, 1 round12 slot is yours
Everything seems fine to me, been there when it went to 0.16 cents, stayed there, look where it is now. Those who leave now are making a huge mistake
Wow, you must've been here a long time? It'd be like selling shares in google 15 years ago because their share price went down 5%
Yea, the same and worse happened then, it was December 2016. The price for steem went from 1 usd to 16 cents. I had around 9k steem at that time worth nothing, still posted every day, everybody was just bleeding their eyes out, leaving, steemit dying etc. Everyone will return once it becomes bright again, but sadly they will miss out by leaving, because those who hold through it will get rewarded
Good read. No doubt these times will pass.
Not sure now that Minds a competitor is at the horizon. But competition is also a chance I might force improvement.
Minds being on top of ETH is not encouraging.
Im posirive. Look how greatmy acount is after only 1 month here.
I love it.
I had a break lastweeks. But i post a bit here and there.
Its all good man!
Steemit. Is tha shizznizz i guess.
You've only been here for a month but I've actually heard your name mentioned before a couple times, I think you even had a trading card made of you by @spiritualmax!
Perhaps they meant as a cash cow.
The days of 10k usd posts has been gone for months, and the 1k usd posts are pretty rare.
Now its mostly little people fighting over the crumbs.
Depending on your perspective.
Oh yeah, definitely, but if the price goes up again, what we earn now will suddenly become worth just as much, only difference is that there's less competition for votes now. Most people couldn't make a living off it anymore though.
I'd only call them crumbs compared to what we were used to, but then again, you can make a day's wage from a single post.
goooood
I agree with all the points said here. I've never invested much in Blockchain tech, because if we are honest, most blockchain tech has not had a solid use case until this point. As soon as I found Steem, and read through its whitepaper I was hooked. Its use case for both financial transactions and applications makes it something that will be hard to kill!
In fact, I can easily see Steem becoming a viable alternative to YouTube, Twitch, Facebook, and even banking after we grow a bit as a community. It's really just a matter of time in my eyes.
I also agree with all of the points. People who see death here are focused too much on the cryptocurrency and the blog for profit aspects. I think that neither will drive STEEM. STEEM will ultimately be driven by its superior infrastructure for experiencing community.
Focusing on building superior infrastructure for community will exploit the powerful networking effects of community and is the best way to promote STEEM's cryptocurrency value and its utility as a platform for publishing content for profit.
Same here, I was always in crypto just because I knew the hype would attract lots of investors, but as soon as I found out about steemit, I started selling all my other assets because it's the only one I've found with a legitimate use case.
You can tell Facebook is shitting itself, Zucker*unt is trying to get into every emerging tech to save himself!
you got that right!
But soon it won't be the only one any more as Minds is working on similar technology and Minds has 2 million active user while Steemit has only 0.8 million registrations.
I think we're up to 1 mil now, I started here 2 months ago and back then there were only 400k, so we do have a slightly smaller userbase, but we've more than doubled in size in two months which is crazy.
There is a stat on Wikipedia:
https://en.wikipedia.org/wiki/Steemit#Steemit_Statistics
Sadly only three rows for the last four month.
And yes registered users where doubled to 800'000. But registered users aren't all that important. What counts is active user. And that dropped last month. (But same for Minds.com — its a close race)
Mind you: I am still an active user who posts here. But i have seen other making a few postings abandon there account again. And the user who introduced me to Steemit is powering down her tiny 30 steem power. Her account is about a year old.
I've been saying that since December but instead the problem got worse. Of course, I don't expect anyone to listen to me when I have something important to say, so, whatever.
There's far more money to be made in honest forms of advertising than what we see here today.
People could promote, that promotion goes to the promoted tab, pay bloggers to sell space for a banner so people see the promotion, and from there bloggers could earn ad revenue from their blogs. The money comes out of the pocket of the promoter who is confident their ad will still earn them money, because that's how ads work.
The banner could double as a vote button because if someone reads an article, they might forget to vote; and that's another way people could generate ad revenue from their posts. If people visit ads and vote, that money could be evenly dispersed to those who sold the banner space as curation rewards or something similar; as there's another way to earn ad revenue.
I don't see why it's so appealing to some of these people to do everything ass backwards and work for the advertisers rather than the other way around where they EARN ad revenue.
I'm rambling, but I think you get the point.
That's a clever way of doing things, I think it could easily be achieved if the developers built in a way to automate page referrals within the site somehow. It'd definitely be suited to those smartsteem posts that are always in the trending page since they're just straight up business adverts.
The thing is, a lot of services already have banners and some of them give users a cut of the profits, but that doesn't mean they won't advertise though as many channels as possible; even in the real world, we see advertisers using product placement, celebrity endorsement, subliminal advertising, freebies - literally any way to reach the customer and they're on it. It can be a difficult task to control advertising.
Difficult, sure, but a structured system means Coca Cola could come here, buy Steem, pay bloggers for clicks to their coca cola commercial on Dtube. Corporate ads could fit nicely under the the blog post and voting bar while private ads could have a slot above and sell for cheaper. That banner slot would have to come with the finished post though. Not added in with the editor. I'm trying to sound smart but I'm so goddamn tired I think I'll just stop there.
just saw you comment on this now, was wondering about this dynamics a few weeks ago but would prefer to chat with you about this in person, what's your discord ID nonames?
I'm not on discord. I think I signed up, but I don't use it.
let me know what you think:
How Transform Curie (as an example) and Curation To Complete With Trending
https://steemit.com/curie/@curie/a-call-for-delegation#@dj123/re-curie-a-call-for-delegation-20180417t073327674z
the recent COM post was tiny synthetic alpha prototype disguised as a easy competition to instigate genuine curation and creativity (baby steps since we don't have >10,000 active followers yet nor the leadership resources to make game curation [showcase] something we can execute in a periodic and timely fashion, next step is to make this weekly and see if it attracts larger participation consistently..... can't grow an idea without being able to measure it):
https://steemit.com/comedyopenmic/@comedyopenmic/you-might-have-a-steemit-account-if
BTW nonames.....we just launched #comedyschool this week and we're getting some new blood on board to help with growing real talents that does actual IRL comedy open mic, and nothing reaches out and get more loyal fans (not the flaky ones who comes one time and go without spreading the word) but participants who are enthusiast who are trying out their hands in comedy, and start paying attentions and admiring consistent content producers
We really want you to be part of something great someday, a corner of the Steem blockchain that make this world a better place, or at the very least, grow a community that helps recognize talent that comes out only once in a while, and build a nurturing community to support the enthusiast, and help hard working talent and contributors (participants that are more administrator, curators, talent scouts, leaders, etc.) become sustainable themselves in whatever ways that can help them.
Swing by discord, say hello and get a glimpse behind the scenes of what we're trying to achieve, will be too much to type out here, and God knows' it's surely much more just just a fun all inclusive silly contest with prizes growing as the community supporting it grows along with it ;)
there is alot more....including dev (and all that comes with it including a DAP someday and then some down the road)....oh yeah, did you know we've launched COMEspanol ( #comedyopenmicespanol ) in the middle of it's 2nd week now, and we've exceeded our target of 30/week entries hitting >50, there are lot of countries that when they get on crypto like Venezeula (where their income dropped from 4th world country $25/month down to a low $5/month in goods purchasing power), we believe we'll help disrupt the violence and cycle of poverty form by financial and political tyranny, also the leader helping with #comedyschool is hoping to grow his account to someday start consistently funding an orphanage to help his friends in Iraq (I shit you not...they are running it full time w/o any government support), when you can make the time, come back and see for yourself:
https://steemit.com/comedyschool/@amirtheawesome1/how-to-be-a-good-comedian-part-1-the-basics
ComedyOpenMic Discord - https://discord.gg/uy8KTds
I hope steemit is not dead.
we work here. steemit our revenue source.
this paper is very useful. I want resteem so my friends I invite to join will keep the spirit.
Thanks for the resteem! Happy to tell you that Steemit probably isn't dead (for now)
Steem to the moon!
I went to a fortune teller the other day and she drew this for me
I have no problem agreeing with you on the merits Steemit as a social network or a blogging platform. what I am concerned about however is the business side of it. I really don't know if there is a parity between the power of Steemit the service and the price of Steem. That is because users don't have to buy in their way into the platform (which isn't a bad thing, as I can testify) but you need investors. I don't really feel what you are saying about the need to buy steem in order to use bid bots (because you use SBD). I don't really know what drives the price, the only thing I can see is that steem follows Bitcoin generally.
This is the price of SBD vs Bitcoin over the last month, it vaguely follows bitcoin but it's clear to see it's doing it's own thing; I don't think it's price is driven by investors as much as other crypto's, it's a lot more driven by users from what I'm guessing, which is a good thin (at least in my opinion).
And you are right, users don't have to buy their way into the platform, but after being here for a while, the temptation becomes too great for those with money to spare.
Think of it like this the whales want the minnows to sell off so they can buy even more to strengthen their position. buy low sell high rebuy low and you can make your 1,000 steem into 1,300 steem. Of ourse this is just an example
Happens all the time, whales are always the first to buy and first to sell, I reckon they've just started buying again.
Hell, if they'd sold at $10 and bought at $2, they'd have got 5x more than they started with!
And the whales already have to much power. I fear that power unbalance could be the actual downfall for Steemit.
We have a power unbalance like that in real life though - I guess we can't mint our own money in real life though.
This is not about money. It's about VEST. And dynamic of it:
How many orcas become whales every month?
How many dolphins become orcas every month?
How many minnow become dolphins every month?
And most importantly:
How many plankton become minnow every month?
In 2016 it was probably fairly easy to rise up the ranks by making good content. And the answer to all the question would have been: Quite a few.
Today it's all about upvote bots. Which is not what was envisioned. It should be about good postings.
I guarantee that its easier to graduate from plankton to minnow than any of the others, simply because the entry requirements for each category increase by a factor of 10, so it's exponential.
plankton - 0 vests
minnow - 1,000,000 vests
dolphin - 10,000,000 v
orca - 100,000,000 v
whale - 1,000,000,000 v
Yeah, its easier if you're an early adopter - but considering this will still be continuing in 5 years time, maybe more, we're early adopters which gives us a huge advantage.
I've stumbled upon a few accounts from two years ago which made one post, got $0.10 and gave up, but they don't realize their accounts have hundreds of steem power in them today thanks to that one post.
But you can self upvote and so higher you get up so more your self upvote counts. That too is exponential. Question is: which function rises faster? (I honestly don't know)
Another interesting aspect: And a new account has about 15 Steem Power donated by someone which equivalents to about 7000 VEST. With every Steem Power you gain the donations is automatically reduced. So you stay at 15 SP / 7000 VEST for a long time.
You have to actually rise the whole six digits from 0 to 1 million to become a minnow.
But yes, becoming a minnow is still doable. You need a little more about 540 steem power. Which is little more then a thousand dollar.
PS: I currently have a little more then 50 steem (power) and a little less then 50 Minds Token. It will be interesting to see how that will change over time.
Thank you friend. You already provide information for us se
No one is dealing with a main issue on this blogging platform. 99% of the posts are crap. Many of the trending and hot posts are crap.
If you accept that as the nature of blogging, then all is good.
If you want to read higher quality material without wading through crap up to your knees, medium.com is far superior
Thanks, I had a look and it does look great, If only there was some kind of reward system built in right? I think money doe's draw in crap, but the bar is low here meaning people have... more creative freedom/space to grow and explore styles.
Plus, you can just ignore the crap if you find content creators you like - lots of the reward comes from wading through loads of shitposts to find an incredible art piece, program or literary work.
Good write up @sisygoboom
Thanks for making me think about steem, it makes me feel better.
@forexflo @yann85
Steemit is still a valuable system. Ill admit to reducing the amount of posts I make per week because of the low returns.
The thing to remember is that were receiving our pay in a cryptocurrency, so even 0.1 could be worthheaps one day. I rode through the last surge without cashing out and will do the same for this trough.
My only criticism of the system is that so much relies on the whims of whales who may know nothing of the subject of posts that they upvote.
One good thing about the current slump is that Im not seeing those self inflating 'Steem to the moon!' or 'Steem will reach X dollars' kind of posts that made lots of $ rehashing the same dubious propositions but had no content.
Yeah, whales can be quite intimidating at times, there have been occasions where I've been scared to say shit to a whale just for fear of getting downvoted..
Those overly optimistic STEEM TA's were getting ridiculous, one random guy was saying steem/sbd would hit $30, like, wtf haha.
Exactly what I've been trying to get across, I sold my bitcoin back in like 2015 and I regret it all the time!
Crypto is too much like the stock market. Some folks get all caught up in the ups and downs.
I really got sboard Steemit because the blockchain offers security to my info without the need to copyright it all. I like to share info but still want to be acknowledged for it. Blockchain offers that for free.
That's an excellent point that I forgot to mention, thanks for that! Like sharing software I'd made with people who appreciated it used to be kinda hard till I found this place.
There is so much potential here. While it might be a bit discouraging for most, it is helpful to look at the long run. Interesting days lie ahead.
Exactly! This isn't the first time steem has seen a huge rise then a huge fall, there's a reason whales are almost always long term thinkers rather than short term thinkers.
If steemit have survive thus far, it sure has the potential to succeed in future
Yep, two years and two huge market crashes and we still have an active userbase, quite remarkable!
Couldn’t agree with you anymore. These past few months have been disheartening as the price of STEEM & SBD has dwindled but it’s not to say I’ll be calling it quits any time soon. Hopefully the kinks will get worked out n like any other asst will rise with time!
What goes down must come up! (That's how the saying goes, isn't it?) But even with a lower price, I've found that the reward pool is actually bigger, and the number of users sharing the reward pool are smaller - so all of us who are still going are getting minted, even though it isn't as apparent.
I worked out that if SBD/STEEM were still at peak prices, my account would be worth well over a 1k rather than $200, hoping we get back to that level
Some bloggers powered down when the steem price crashed in fear. Now the prices are rising, some of us who chose to hold will gain more.
The work @jaraumoses is doing here in Uganda is so great. He is our steemit ambassador, he introduced me to Steemit too.
He's a really funny guy; and it's great to see steemit has strong communities in all corners of the globe!
Steemit has proven itself. Still waiting on 99% of crypto projects to unveil something. Meanwhile Steemians just cashed out half a billion dollars and are building the future.
Precisely, why invest in a shitcoin ICO that promises to change the world when we're already making massive waves!?
No need to wait:
https://www.minds.com/blog/view/826188573910073344
And a social media site like Steemit as well.
Anyone who says steem is dead just came here for the money. Just enjoy the times, let's grow with the platform and I believe our reward will ultimately come
Exactly, I've been here for 3 months, and in that time, the number of users has doubled - we're in steem's infancy and it's growing quickly.
Pretty nice article. It didn't happen only to steemit tho, everyone thinks crypto is dead and what's dead is the hype for sure but lots of protocols are thriving more than ever and I think steemit still has a long way to go before one can even start to worry about dying. There's definitely flaws and I agree that one of the main reason is because of how young the platform is.
The lack of hype is when the smart investors slowly start buying it all up.. we saw it in the .com bubble, lots of hype and money thrown at startups, then a crash; but the heights reached by websites like amazon these days, dwarf the peaks reached in 2000.
Steem lives on!
Steem on!
Why is stwemit STILL in beta? Anyone know?
It's thanks to the fact that there's still so much they're planning on doing - many of their main goals haven't even been met yet so I guess they'd feel bad saying it was a finished product when it really isn't.
Thanks
Very informative roundup, thanks for sharing. I've smashed the upvote button for you!
People need to remember Steemit is still growing, it is still not a well known platform compared to other blogging platforms, keep the faith!
If you are looking to get hold of some crypto without investing or mining, look into https://www.crowdholding.com. They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
Thanks for sharing, I'll give it a look :)
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