There are potentially millions of content creators in this world and potentially hundreds of millions, if not billions of content consumers in this world. There are far fewer investors in this world and even fewer crypto investors. So rather than attempting to cater to the tiniest market, I feel it's wise to have a look at the largest market.
Ned, is that you? Just kidding 😜
I heard that argument before and while there most def. is some truth in it, I find it pretty far fetched that those millions of content creators are coming to Hive. For what? To get some rewards? Decentralized content that the majority doesn't need?
Insanity is doing the same thing over and over again and expecting different results
We've been on this "social media roadtrip" for 4 years and the most successful application that actually generates relevant revenue outside the rewards pool is Splinterlands - and that's not a social media application.
Not many people will continue to go on this road. Either we get our shit together in 2020 and 2021 or the most skilled people will head to other projects.
Content creators follow the money, famous or not. Youtube didn't have celebrities until they saw what they once considered to be 'nobodies' making millions creating videos.
Sometimes I wish I could just project my vision into the minds of those who can't see it. Then they'd go, "Oh! That's how!"
I've failed at explaining this for years. Content generates revenue. The business model has lasted for thousands of years. It works. Marketing to the consumer, rather than the content producer would be a step in the right direction, I think. One song can generate millions of dollars. Content creators already offer their consumers perks. The entire entertainment industry business model exists here, as is.
Do you know why most big names failed on Steem? They didn't produce exclusive content and they didn't encourage their following to purchase tokens so they could tip forever. They didn't teach their consumers they get a return on that investment. Those big names came and got a few big votes, for a little while. In other words, they came to perform in front of a handful of people, and then made sure to keep the rest of the seats in the stadium empty, because those big names had no idea what this platform had to offer. All they saw was the money on the surface and didn't know how to run their account here like a business.
That's the thing. I don't want to leave to create my vision elsewhere. ;)
We should all work together, combining our visions. Creating options rather than going in one direction only.
We haven't even remotely come close to trying what I'm talking about. Not once has this concept ever been marketed to consumers and for the most part content creators keep getting handed the crappy end of the deal. I need a place where I can work towards a future and I think most content producers here would agree a future is important. Some of you folks made thousands upon thousands of dollars selling votes and making it nearly impossible for a content producer to grow organically and truly shine. I came out of Steem after working for many years with nearly nothing and it certainly wasn't due to lack of effort. I think content producers should have a voice on Hive now and the days of getting screwed over should be behind us.
Most of them almost were not mentioning steem to people that follow them. and you are right, they did not understand it, and did not try to explain it to their user base.
this also reminded me of the crypto people complaining about censorship of their content on youtube, but non of them are trying to use (and move) their user base to a decentralized crypto sphere (i know there are no a lot of options but if they are in crypto, they are pioneers, so they need to puss it).
Big names with big followings can come here, tell their following to stop donating, spend the money on Hive, power it up. Nobody is going to complain if someone was reaching the trending page daily without the help of current whales and orcas because they encouraged enough followers to come a tip with votes. If a massive following pulled 3 million HP from the market to support one content creator, great! That massive following has NINE MORE VOTES to use in a day. One creator with a business mind posting exclusives here can do a lot. Now scale it up. Purchasing enough HP for a vote worth two cents doesn't rise with the value of the token either. Man I wish I had more time to talk about this right now... I'm just rambling... You get it... And that's cool.
Rather than whales becoming starstruck and voting for big shots, they should teach these big shots about the potential. Otherwise they just take the money and run all while nobody is even leaving comments under their posts here (on Steem when it happened).
Excellent answer. This kind of answers my comment.
I agree, I think it's time to change our vision and focus purely on leveraging custom_jsons for now.
If someone wants to keep the current model going, he can always create an SMT that does it, to incentivize curation.
If you approached what I had mentioned with something like an SMT, you end up turning a market of potential billions into millions of tiny markets of thousands and each individual market then struggles unnecessarily.
Similar to how a massive retail store that sells everything makes far more money than all those individual shops downtown on the fancy street.
An SMT would be ideal for big name band or something with a dedicated fan base that already purchases everything that band (or author, or anything) puts out on the market. This is not the place or conversation for me to explain the details of that though.
Have a look at tribe tokens. Each one struggles because they've not tapped into the consumer driven business model, yet each one provides something that is intended to attract consumers. It's like planting apple trees and allowing the apples to rot because you're not interested in selling them.
Every single content creator here can tell you it's not the rewards they're lacking, it's the market of consumers they don't have a chance to tap into. Bring those consumers and the creators will earn more, along with the investors who just want to sit on the sidelines earning percentages.
I'd use that savings account to offer investors a chance to hold and earn a percentage without contributing, while leaving the current Hive power business model intact, with options to tweak percentages down the road. There could come a time when in order to reward consumers, the content creator might have to take something like a 10 percent cut, but still do really well, because they have tens of thousands of consumers voting/tipping their contributions.
I get your argument, but you are missing something. It is possible to create an SMT that is an exact replica of the current Hive token. Inflation, distribution, upvoting, etc... It can even be improved by removing the inflation to witnesses and the SPS and direct it all towards content creators.
This SMT can then be used on ALL the communities. Why set up barriers? The only way this SMT won't be used within a certain community is if the community specifically doesn't want that (unlikely).
Therefore, you still have a massive market. Not small communities. Using SMTs only as belonging to a specific community is very narrow. They can be used for the whole network.
That way, the main Hive token will be designed for investors and RC credits, because the value proposition this chain brings is indeed RCs. At the same time, there will be a general-purpose SMT working across all communities with the exact properties of the current system, or even improved properties for content curation. Hell, you can even try to design your own currency to achieve the best system possible.
I don't see how anything will be lost that way. If you believe that your vision of Hive geared towards content creators will capture more value in the long term than you will see that in the price. The price of the SMT for curation will be higher than the price of the main token.
I personally see RCs as the main value capture, because as the number of accounts and transactions grow on the chain, even if it's for content creation, RCs will become scarce and large holders will have to delegate it to others who need it.
In any case, both systems can coexist using separate tokens. If you combine them in a single token (what we have now), you end up with endless conflicts and no one knows what to optimize for since opinions will naturally be divided.
Edit - Important to note, you do not need to chose between the main token and the SMT, at least in the beginning. Since the curation SMT would start with the same distribution as the current Hive token, all of us already have the exact same voting power. Once you earn rewards for content creation, yes, you would have to choose between keeping it in the SMT or selling it for the main Hive token.
But then who buys Hive, and why? If it's just for RC's then I think only those who need RC's would purchase it, and it would be the bare minimum. And once there's no need to buy more, how do yo continue to create demand? It would be that SMT creating that demand. So this is just adding unnecessary steps and barriers in my mind.
I don't fully disagree with you and know where you thought process is coming from. I totally get it.
But I just watched those Tribes try this very thing. I can't say I was too impressed, but not fully disappointed either.
Too many markets, too many options. Not enough consumers.
If RC is being handed out by means of delegation, that means no new money is coming in the door. Some might go to a few stakeholders, which they'll sell. Only need a small handful of big accounts to provide plenty of RC. So that's a tiny market. And I don't really see how having a landlord while utilizing products this chain has to offer would be appealing to your average consumer. That all sounds ridiculous to me. It makes no sense, especially when there's already a proven business model sitting directly under everyone's nose.
There's tremendous value in content. Arts and entertainment, information. These things generate billions annually. Everything required is already in place it just needs to be embraced. These profiteers have been squandering the potential for years. They don't know what business they're in.