Okay, well, I do realize that Steem is unique in that the price of Steem greatly effects its popularity because of upvote payouts in SBD. However, Bitcoin had to go through years of wild rides, maybe Steem just hasn't paid its dues.
Can't we be patient for the value to move in over time? I see Steem as having great fundamentals, and while its definitely a dark horse right now, it is growing. In my mind, the true expansion and killer app are the SMTs and also getting NFTS onto Steem. Honestly, while I do believe SMTs are important, I think NFTs are more important for giving talented people the ability to sell their eBooks, art, photos, eCards, eComics, movies and any other digital product you can imagine. Nothing out there matches up with NFTs as well as Steem does. Its potential is to be OpenBazaar on crack.
Bitcoin is a completely different model. For one thing the supply is distributed over 100+ years (50% of remaining every four years) it isn't instantly assigned 80% to the founders and then dumped over a few years. Apart from it simply being much, much larger with more demand, even years ago compared to Steem now.
Sure there are interesting things that can happen on Steem but unfortunately they are hobbled by broken economics and a dysfunctional ecosystem structure. It may still yet succeed but the odds are stacked against it for these reasons.
Fair enough, but if we forked away we would likely experience the erosion that BCH is experiencing right now. We lost Dan, so if we kick out Ned we're probably headed down the same devastating direction as BSV is right now.
You may be right. IMO the ideal situation is NOT to lose Ned (in fact to go out of our way to keep him) but to also have everyone take a hard look at things and recognize that the model needs some iteration.
Agreed, over time the steemit pool on the blockchain will diminish as competition between actors will increase and create new ponds, some will be turbid, some will be clean waters...
Competition by exclusion will lead to devastating effects.