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RE: Why Buy STEEM? And Why Buy STEEM!

in #steem • 6 years ago

What are the things, right now, standing between you buying more STEEM?

Confidence that Steem will work, largely. I see all of this talk blaming the price for user/content degradation, and how we're just waiting for the next BTC spike, and it's discouraging, because if Steem doesn't work at $0.80 (or $0.25 or $0.07) then I don't think it works at all.

If I'm just putting money into something that needs to be propped up by Bitcoin, there doesn't seem to be a lot of point and I'd be better off doing something else with it.

I had $6000 USD in pipeline to become Steem Power if hf20 went well, and then it really, really didn't, and now that money is just sitting there while I have a hard time figuring out which direction I want that pipeline to move. Some of it that's in SBD is going to become BTC this week because I have $600 I want to spend in BTC and I'm not holding any, but that's not really progress.

6 years ago in #steem by
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     6 years ago  

    Good feedback. Though I’d say that, ultimately, HF20 was a good thing and we’re in a better place now.

    Yeah, the implementation was rough, but the end result is a big positive.

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     6 years ago  

    Technologically that may be true - though there are still some interesting emergent behaviors happening around the early vote penalty - but philosophically it very much isn't. We learned a bunch of scary things from the hardfork process:

    • Loss of user assets is not sufficient reason to roll back an update.
    • Code review and testing was woefully incomplete, and that incompleteness was kept secret - and the top witness in the best position of anyone to know that was spending his time trying to pump the price instead.
    • Steemit Inc.'s development process ignores user experience at every stage, and they seem to be fine with that.
    • The elected representatives of the user base make decisions in secret meetings in a private discussion forum.

    Apart from some efforts on the code front by mid-tier witnesses, none of this has been addressed, and each of them on its own is very much a "run" signal to me. I'm trying to be patient about wanting to see some movement on these issues, but we're getting to the point where it's not looking good.