OK, I'm going to get on my soapbox now
I feel like I'm going to get some people upset by stating this.
Quality content is important to Steemit users, but not the key to Steemit growth.
The real path to growth is STEEM currency adoption.
Steemit Inc has the power to make STEEM currency one of the top currencies, but they choose sit back and let STEEM organically grow by itself. I plan to change that.
Steemit is better than other social media platforms, but better content doesn't spell growth. After 30 minutes, content is already forgotten. You con't build growth of a community with a 30 minute attention span. Growth is not affected by content even though a few preach about it relentlessly. Quality or not, people don't remember what your article was about and have moved on the the next subject. After 30 minutes, the content is old news. It is wonderful that folks are going to great lengths to improve content quality. It may get me to stick around and read just one more article, but won't get a flood of people to sign up. Just look at any other social media platform. They are all full of terrible content. Steemit, however is better. We have better content despite the small number of users. We have the incentive to build better content, and we have a community that is policing content. But where is the growth?
Ultimately Steemit is a community. A social community yes..., but more importantly a STEEM currency community.
The real influence to bring people together is currency. We have just over a million accounts on Steemit. Compare that to a major exchange where that number is over 10 million accounts on just one of several exchanges. That is like a giant neon sign pointing out that currency is King. Let's take Binance for instance. It has been around for less than a year and already has 10 times the number of users that Steemit has. Steemit is over 2 years old and can't compete. Currency is the key to growth. Countries with distressed currencies are flocking to Steemit. Why? Because STEEM is a great curreny. STEEM is social currency in which the local community members have accounts. People can send money to each other with ease and it is free and fast. Just look at Venezuela. That country is converting to STEEM even though their country forbids it. There are villages in Africa where you can buy a range of items from a pack of cigarettes to food with STEEM.
STEEM is slowly catching on as a currency. The real limiting issue is accessibility.
People have access to Steemit accounts, they just don't have access to exchanges or exchanges that list STEEM. They want to use STEEM, they just have difficulty converting fiat to and from STEEM or SBD. It is such a hardship, that many are reluctant to make the change unless they are forced by economic circumstances.
We need to change that. We need to make STEEM available on every exchange and in every language. We also need to push to have STEEM adopted as a major trading pair everywhere!
The number of exchanges STEEM and SBD are listed on are severely deficient. This needs to change. Once STEEM currency becomes mainstream, then people will take the effort to create accounts despite the long waiting period.
I hope you enjoyed reading my Blog. Please remember to Upvote, Resteem, and Follow. Thank you.
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For a breakdown of how Steemit Rewards system works:
For a breakdown of Steemit Keys:
https://steemit.com/life/@socky/do-you-understand-your-steemit-key
For a breakdown of why Steem Power is Important:
https://steemit.com/steemit/@socky/why-is-steem-power-important-beginners-read
I might not necessarily agree with all of it but I think that this line of thought has enough juice to pause us and make us think
Thanks for posting this. I'm still learning about all of this, and every little bit helps!
Where do you think we need to concentrate our energy to make your dream to become a reality?
Glad you asked.
We have the ability to influence the decisions of witnesses and Steemit Inc through the witness voting program. It is free to vote for witness. In my case, I have many people that are willing to vote for the one who gets the job done.
Check it out here.
https://steemit.com/steemit/@socky/74ibcs-how-you-can-get-steem-or-sbd-on-an-exchange
Which witnesses do you recommend that can influence the most the CEO?
My concept of influence is to wait until they challenge is complete before the witness vote is cast. That is the way to keep leverage.
It will be in reality in coming days as more people dive into this platform
Thank you for this wonderful and quality post, and for sharing your thoughts. It is quite provoking! Have a terrific day, my friend! Take care.
Is putting steem on exchanges the responsibility of the content creators or the responsibility of the administrators of steemit? Content creators are adding to the popularity of steemit. The more people sign up on steemit, the more popular it becomes and the more likely for it to be considered by most exchanges. When the exchange understands that the currency has a huge user base, the will have no other option than to list the currency in the exchanges. This is why steemit need to encourage newbies because they are adding to tge popularity of the site.
Since we have a right to vote witnesses as SP holders, we share a responsibility. The influence to get Steemit Inc to step up belongs to us.
How do we know which of the witnesses deserve such votes so we don't end up always voting for a witness that doesn't care?
You have to research witnesses and make a decision. Most users with high investment will take the time to research and choose their witnesses wisely as it is important to them and their investment. There are only 20 top positions that make the majority of the earnings and they also have responsibility to make decisions.
If you are not interested in research or voting, one thing you can do is proxy vote. This allows someone else like me to make the witness vote decisions for you. To put is simply, your witness voting copies my witness voting.
How is the proxy vote done? Though I'm a newbie and my sp is still on ground level. Are the witness votes of steemians like me necessary?
Ok. I'll do that
Quality 👌
Posted using Partiko Android
This is one of the best content in have ever seen, Now that Steem fluctuates and sometimes the rate in which you buy may be different when selling. Though it's not my major concern, but my question is what is the way forward how do we know the right witness to vote? Most atimes those witness don't care to check in the newbies.
Thanks. @luckyspark. I don't exactly trust the witnesses are working in our best interest. That is why I set up a challenge for them. Only when they complete the challenge, they get our vote. That puts power back into our hands. Since each of us has 30 votes, we can create challenges for the witnesses for a very long time.
Wow, this really means that you have great future for the minnows. Please tell me the way forward, I mean how can we create the challenge?
you've made a good argument, i used to think content was key but now im on the fence. if we dont need content, how do we move forward in rewarding steem for proof of work? it seems that both are dual partners.