You are viewing a single comment's thread from:

RE: Is Steemit In An Economic and Social Death Spiral??

in #deathspiral7 years ago

There have been times when I was so pissed off about this website I wanted to punch my monitor and there have been times when I would wake up and jump out of bed and run to my computer to start working on stuff here. So I have seen the highs and the lows.

The highs mainly seem to correlate with a huge surge in STEEM Price and for a limited amount of time we are in a somewhat gated community because others can't get in fast enough to tap into the wealth that we are sitting in. Once things level out with more people eventually getting in and the price sinking then things get a lot tougher and then most people start falling off the bus and getting upset because they can't see a clear vision to it being "worth" their time to be on here.

From my perspective who is what I would call a mid level content creator on here (Someone who has invested a ton of time gets some decent payouts but actually can't live solely off this platform) there is always the fact that by doing a calculation for how much STEEM power we would have to buy to have a certain influence the investment still doesn't make sense in a lot of ways.

The only way we can do it is by STEEM dropping to about $0.25 or lower and everyone being super pissed off and most people giving up on the platform. Then we would have to commit substantial amounts of capital. Like $30,000+ and then STEEM would have to make a big comeback to $2 levels or so for our investment to be worth it. It makes it a tough play and the question when the price drops is WHY is it down that low? And also there is always the worry it would just keep going lower. When it went to $0.07 I thought that it was likely finished and the founders had screwed up the platform with the most potential.

The biggest problem with STEEM all along was the distribution from the beginning was totally messed up. And like we have seen with other projects they have done air drops and with EOS the ICO is lasting an entire year because in crypto you have to have a wide distribution. STEEM never properly addressed the situation so a lot of people feel like it is a hopeless effort. @rulesforrebels has 68,000 YouTube subscribers and has put in a massive amount of effort on here and hasn't given up but he is lucky to make $0.25 on each post. To me that starts to be a red flag. He has invested in some STEEM Power as well. It just isn't enough. There have only been a small handful of content creators who were able to build anything significant here. You, @rok-sivante , @pappa-pepper and a few others. All great content creators.....etc. From new people coming in it seems like a very tall order to really build anything. Even for myself I can't spend as much time as I do on here and not use some of the money for bills. If I can make $200+ / day on here then I can skim half of it and keep the rest building. When it dips way below that then I'm losing ground on the account and can't really maintain any kind of power.

Solution: It has been mentioned before but I think their should be a series of air drops based on people's reputation, amount of comments, etc..... The problem with the Golos drop was that if you were a God King here then suddenly you were a God King on Golos. So they suffer from the same distribution issues and they are still on a exponential curve for the power.

Solution 2: These major 3rd party developers like @good-karma and @jesta should be given substantial funding from STEEMIT Inc. Enough to be working on this stuff full time. STEEMIT Inc is holding so much of the power that one of the only ways to really get other people feeling like they are more invested in this platform is to enable them to keep spending their time here. Sounds socialist...etc but you have to realize that when a capitalist comes here they might turn around and leave because they don't see a good investment and a good opportunity for them to capitalize.

This platform in my mind is one of the most promising projects in the crypto space. From a price perspective it is hard to find that balance because while buying more STEEM Power creates demand for STEEM most new users and users spending a ton of time creating content need the money for bills for their efforts so it then weights on the price. I feel like the platform could continually go in these surge / sleeper modes but will continue on for sure.

Sort:  

^ this.

Seriously 'nuff said. You have hit the nail on the head.

@Reggaemuffin can we get @rulesforrebels and @brianphobos on the MinnowBooster whitelist?

If anyone else know's quality content creators that are struggling out here, please tag.

exactly. I need to find more quality people too...can you make me a list?

I appreciate you reading the response and taking a look at @rulesforrebels account.

@Reggaemuffin says he will white list you if you promise not to use an 80SBD upgoat on a zappl post :P

Hahahh, Ok deal! LOL