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RE: If I Ran Steemit: An Open Letter To The Steemit Community

in #steemit8 years ago

I started investing in steemit almost at the high. i paid 0.0052+ for my steems. I'm down above 90+% on that and i don't like posting. And i would of course not receive anything from this beautiful proposition.

Why does everyone in here dislike investors? Keep posting i'll stop buying and we will see how much thoses steems will be worth in a few months. When everybody ask themselves where the money comes from it came from me and other investors. If a redistribution should be done investors should get a big chunk of it to motivate them to keep buying. Lost money in this thing everyday (almost) for 3 months now..

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I agree with you that you're overlooked as a group. However, it is the active users that are keeping Steemit alive. If some of these fundamental issues are worked out and that results in users being retained, then that growth will create a valuable currency. Value comes from user engagement. It would spread like wildfire if this platform worked well. That would make your investment increase in value. It's my belief that without the main power dynamics and curation worked out, this site will not flourish.

If you give away steem to active users what will be the first thing that will happen? It's free money it will be sold for the most part. Since the price is going down all the time it is logical to sell.

Then for us investor you just changed the whole risk/reward investment. I will quit if i am completely ignored in this process why bother buying just post things. So by punishing investors again what will be the outcome? price will drop some more.

I i'm the most bullish investor on this thing and down pretty much 2k$USD and i keep buying a bit, but i'm about to quit. You think posting is hard work? Try earning money in the real world to put it in here and see it vanish at the speed of light. Without investors this site will be out of business very fast. Whales still have around another 21 months of powering down to do things will get ugly. I strongly suggest a slight change to that redistribution plan. Investors are key to all business models ( except here it seems).

Many active users are in the same boat. I started with a 3k Steem investment and have built it up to over 8k through working on the site, powering up every SBD I've received. Today, even with my increase in Steem over the period of time, it's worth less than my original investment. I've also taken a position on an exchange.
I really don't think I should be compensated for my investment directly. It was speculative, which is the nature of cryptos, including ones that actually do something (like Steem). If there's going to be a distribution, IMO, it should focus on the best content creators or it should be a simple burn of Steem in order to reduce the supply, hopefully raising all ships. IMO, any other attempt would become too subjective.

A burn of steem is the only fair way. So many "content creators" are just sock puppets, that would not change anything. Reducing the supply by burning half like Synereo did is how you increase the value for everyone.

What is your plan? As I am not an investor (well, technically I am now through my non-stop effforts of the last 4 months), at least I didn't start out that way, it certainly is hard to see it through your lens. Would you suggest a 10% redistribution to investors in addition to the most active users?

Lets make it 20% to investors and 20% to the most active users, it's much better this way!

/sarcasm

Can i ask a question: when you invested, what did you do with the Steem? Did you put it into SP?

When you buy steem the only logical place to store them is in Steem Power. Else you are subject to raging inflation. It's very hard to come to a solution to a system already in place but here is a few possibles roads.

  • I would not touch any kind of redistribution at all. Doing this will scare all investors away we don't want that. If it must be done then linear distribution from the 85+% that was self given to the owners at the beginning in a linear fashion to every account is the only way i see plausible. Basically everyone has been losing because of how the system started it's only fair to reroll the dice fairly for everyone.

  • Curation should be back to 50%+ make investors beg to buy this thing.

  • The free SP we get everyday should be given only if you are considered active. Basically if you did invest, curate, post comments, post articles in the last week you get your SP for the following week.

  • If you invested in the last week you get a bonus of some sort more temporary curation power etc.. .
    Inactive accounts would get obviously much less SP or no SP at all. Since more than 90% accounts are doing nothing giving their reward to active users would explode what they get everyday. Even minnow would be getting something out of this ( usually we can expect 90% SP per year if only 10% stay actives they get 10x more SP ).

This would be and amazing incentive to participate. Basically thoses who make this place great to visit would get tons of benefits passive dead account would not.

This would encourage people to log in and do something, investors would be rushing to buy in and would probably slow down powering down. Curation is probably the key to investors they have to make a return of some sort at some point, else it's not investing anymore it's donating and that won't be very popular.

Can't agree on every single point but overall I applaud your comments on the critical role of investors.

Now is the time to do a redistribution, because there are NO investors, or very very few.

Those are pretty good ideas I have not seen posted before. You should post them separately to see if they get support.

 8 years ago  Reveal Comment

As it currently sits there is absolutely no reason for any "real" investor to invest into Steem.

There's not even an incoming revenue source to give an investor piece of mind to invest on. It's pretty much a purely speculative investment. You are only fattening the pockets of the top right now, unless some things change.

Then throw in the fact that the only real investor ever talked about is some "angel" investor who can't be named, according to Ned anyway.

I don't mean to be rude, but if you are not investing in the 6 figures right now you really don't mean squat right now in the overall success of this platform.

The majority of the big players on here where early miners (by design btw) and a few early adopters who gained from the big boom and now the big crash.

He only has steem power so it looks like he powered up. He's a little over 1500 steem power.

Good points. Maybe you should put all this into a post so that it reaches more people here.

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I'm feeling the same way!