That's one small step for Steemit, but one giant leap for mankind.
Today on May 17th, we celebrate our first one Million (1,000,000) STEEM accounts!!! That's awesome!
They say the first Million is the hardest one. And it really is.
I am grateful for the opportunity that STEEM and cryptos in general offer to us.
I think most people have no idea what's coming in the next few years. If you own some cryptos and HODL your STEEM, I think you will be amazed.
The whole crypto market is still very small if you compare it to other markets. Right now it is only 0.39T, whereas the (paper)gold market is 9T for example. The stockmarket is 70T. I hope you get the picture.
Institutional investors have just started pooring a little money into this new territory. There is a lot more to come. Coins that might be worth 10 cents now, might be worth several dollars in only a few years...
Repeat after me:
Patience is key, it will be awesome!
Patience is key, it will be awesome!
Patience is key, it will be awesome!
We need to somehow grow the daily userbase (number of daily active users is stagnating between 60k and 70k). We have too many dead accounts right now. They may not be dead forever (if the price of STEEM rises sharply for example some will come back), but they are dead for now (no transaction in the last two months).
Any ideas? Share them in the comments...
Tons of accounts will not be used unless this goes main stream. If you try and create an account with many big company names or catchy phrases they are all taken and none are being used . Seems like someone bought a bunch of accounts to hold onto.
The problem is a very high entry barrier for new steemians. They get frustrated and leave before they start to grow.
Some really good projects (minnowsupport project for example) are trying to solve this problem, but if the new guys don't find out that help exists, because they don't stay for long enough, it's really bad.
The grind in the beginning without investing a few hundred bucks is really hard. You get literally no viewers without a little starting help from invested money or support projects.
Very true and Iβm sure there are a lot that would invest into this but do not understand how. Itβs easy for us who know a little about this but for most they have no idea how to do it.
Yeah, and that is a whole other issue. I'm still learning things and honestly just started using bots a week or so ago. I've been on this site for over three months, but I really only just figured out bots...and I'm still not totally sure about how to maximize my gains from them.
That is probably another reason that retention here is so good - a lot of people get confused by all of the different elements of the site. From the nature of how payment works, to the difference between STEEM, SPD, and Steem Power, to bots, it really has a steep learning curve.
i agree loads of persons think its too complicated to use
Exactly right, and that is one reason I am not against using certain bots. I was at first - it seemed like a sort of cheating because it benefited those with money - but now I see it as a necessary tool for smaller users like myself to get big. As soon as you have at least a little SPD you can get at least minnowbooster to help you out. You just need a spark to light that fire.
Once you do that for a while, hopefully you get to a more self-sustaining point. It is a growing issue though.
It is very likely that we'd hit 2 million before the end of the year. I don't expect Fakebook like numbers because Mainstream social media is designed to waste time and promote vanity which was necessary to gain ad revenue. STEEM is like Apple which has (I think) 7 times less marketshare than Android and still makes 1.5 times revenue. https://www.statista.com/statistics/259510/revenue-distribution-between-the-apple-app-store-and-google-play/
I think SMTs can do a lot for STEEM and we might even end up seeing STEEM itself become sort of an Oracle Corporation for social media.
I think steemit promoting itself as a social media that pays its users worked against it. People join to earn big bucks ad end up failing and leave the platform. It's just pure mismarketing. Something similar happened with the movie The Village (2004) which was marketed as a creature feature instead of psychological romance thriller. People should be given the right kind of expectations.
STEEM doesn't collect your private data and it is absolutely censorship free. You account is extremely secure and you see zero ads. You might even get paid few bucks while using it. Earnings should be at the bottom of the selling points as a bonus.
Unfortunately I see ads all the time. Look at the trending page. Look at promoting page. Full of ads for shitcoins. I donβt understand why this is not getting fixed. We have the advantage of being the first ever blockchain social media platform out there. I hope we donβt lose it when competitors come along.
Well said folks like yourself who care enough to take the time to write up this are the reasons I spend the time that I do on STEEMIT UPVOTED 100% POWER
I am not sure how SMTs are going to solve any of the current problems for steemit.
Its going to be a great money spinner for the developers and steemitinc as they sell all these shiny new SMTs
I think you are right about the mismarketing - although I am not sure what can be done now. Most sites try to reach out to a certain type of person. I'm not sure who that target audience would be on Steemit. The way @tjkirk aka the Amazing Atheist (of YouTube fame) convinced me to join is that he essentially said that this was an anonymous, free-speech site where you could get paid. For me, anonymous and freedom of speech was enough, fortunately. If there is a potential for this site going forward, I think it would be as a good free speech site that is not full of fucking racists and Nazis like so many sites that claim to support freedom of speech end up being. Based on my own name on my page you can see that I am "anti-SJW Left", aka I'm on the political left but I support freedom of speech and oppose SJWs. Obviously recent changes on YouTube and Twitter drive me away from those platforms, but I'm not about to go join "gab" or "hatreon" or some Nazi bullshit either. This site seems like it could potentially fill in that gap where there is no free speech site for those who are to the left of the far-right.
"anti-SJW Left" and "left of the far-right" would be able to integrate well into the platform because most blockchain projects are developed by Libertarian/Anarcho-Capitalist Austrian economist types. Their values show on their projects. People who read https://mises.org/wire would be naturally attracted to platforms like steemit if we can deliver them a constant stream of quality articles. Steemit itself can be sold to bloggers who don't earn much and tell them they can post their stuff on STEEM and get some bonus income.
We can also sell that steemit has a very high Alexa rank and tell them that it helps SEO. We can tell YouTubers that they can simply double post to the blockchain. @tjkirk case was an excellent one. I've seen several YouTubers come to STEEM.
So I'd say that the focus should be on selling censorship free website with ultra secure crypto wallet for existing small scale celebrities, bloggers, Medium writers and Libertarians. i'm personally very impressed with the average intelligence of the person on steemit. Think how people would react to some of the jokes here: https://steemit.com/comedy/@vimukthi/revisiting-trudeaueulogy-some-of-the-best-political-satire-ever
well said!
Yeah, since we are in a bear market, a lot of people do not see the value of continuing... if you look at it, everyone uses facebook for free because its easier to use and have close family members, most people do not know steemit yet they pay use while facebook does not. What is there to really lose by using Steem like you do facebook. I am here to connect with people more than small monetary gains :P I will invest more in this because getting paid to do everyday things online is the way of the future in my opinion. If you are using FB for free, YOU are the product. Congrats on the 1 million user base and I will continue being active here until I possibly can. Steem is one of the very few crypto coins with a solid use case that I especially enjoy! Love blogging and meeting new people!
Those who care to grind a dollar per day on steemit will be millionaires once it reaches its full potential in 3-10 years, depending on how fast the crypto market expands.
It is still possible for BTC to reach 30k by christmas this year, even 50k in 2019... Imagine what that might do for STEEM.
I agree with your request for patience. Some things take time.
But the reality is people are talking about STEEM. Once a few people see their friends making real money on STEEM. I am sure they will start to share pictures of their meal, or a message about their day or an update on their holiday, on STEEM, rather than Instagram, twitter or Facebook.
I'm afraid we're focusing on the wrong information. 1 000 000 accounts doesn't mean anything. Only 6% of the accounts are being used! 6%! We need to fix the problems here. We all know them. But there are not being fixed. I'm very concerned.
I don't think it is that bad yet. If 1 Mill means 60k active users and 2 Mill means 120k, we will be just fine. The price would likely double or triple. But if we don't see 120k or more with 2 Mill, that would certainly be bad. I think with communities and SMTs in the near future, a scenario where we don#t see 120k @ 2 Mill is not very likely.
Many of the early adopters lost interest, so what? STEEM is not widely known yet, even if we are in the top 1000 websites worldwide.
That's a fair point. The real risk with a site like this is, and always has been, that there may be issues that require some sort of top-down moderation, but this site exists largely on an ideology of community moderation. I don't want to get super political here, but I'm not an AnCap. I see times when we need authorities to make changes when things are going wrong to this degree. Clearly we need some serious changes if only 6% of accounts are being used (btw I'd love to know the source for that number). Community moderation might help make a better community eventually, but without some top-down change that will take forever.
I am genuinely excited at the growth of the site, but you are right that we should look beyond the sheer number of accounts to focus on retention of those who do sign up.
You can look at this user's blog https://steemit.com/@arcange
He post's regularly about Steemit's statistics.
I agree with you. We need some type of moderaton. Issues are not being fixed and I'm afraid the community will not do it either.
1 Million accounts is a milestone. But it's far from enough.
Thanks, that account seems pretty informative.
This all has made me think about why people leave this site - in fact I think I'll write something about it. I think the multiple types of currency (SPD, STEEM, and Steem power for that matter) really confuse people and make the site needlessly complication. This site, unfortunately, has an incredibly high learning curve compared to sites like Facebook. I'm not sure how that can be changed, but I think some top-down change needs to happen in order to fix this.
I look forward to your writing!
I bet that half of the 6% being used are bots.
How do You get this number?
60 000 daily active users = 6%
Hey, awesome! The more people the more potential there is for this site. The idea of rewards for contributions to a community is a great idea, and obviously we need the community for this experiment to work. Very cool.
Great news for steemians . i hope steem and sbd goes top level coins in coinmarket cap in futur and hope price of steem touch 100$ in next few years
Great article. If you see the daily increase of steemit users it is amazing. When a lot of people are familiar with this platform, the popularity of steem and SBD will definitely rise. Correctly said, people are using BTC as a media of fiat gaining. Not sure, in future steem and SBD will replace BTC or not but I can bet steem will dominate the blockchain and crypto industry. Thanks for the informative article.
Let it rip!!!!!! Congratulations and good luck to all here on steemit!!!!!
Thank You for Your Information
I am very new to Steemit, still trying to figure out the ins and outs of it, but so far I am excieted for what this platform will become and what it will be able to do for others. 1,000,000 + and counting. Whoo Hoo!!!!! :)
No sarcasm intended, but I wonder how many of the created accounts are completely inactive.
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Super!! Felicidades
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Many many congradulations all steemians.
Great it cause a big cheers.
Yay!!! This is so cool. At last one million. Roll on 2 million
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Keep it up!
All the best!
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wao is incredible, soon we will be more, every day more people join.
LetΒ΄s make another million of Steemians ...
Wow we need more steemiens
wow....what a great information
This is amazing! A great achievement @ew-and-patterns... A big congrats π... More to come...
yay!!
Hi, Vote for me =)