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RE: Why Traditional Social Media Like Facebook Cannot Compete With STEEM

in #steem • 7 years ago

I don’t presume to be able to predict what will happen. All I can be sure of is that it will be interesting. The community is what keeps me excited about this place. It has many problems but somehow the community keeps it growing with a strong foundation of user based solutions. I think Facebook COULD compete and win, but I doubt they will be able to match us as far as the community though, so evencif Facebook becomes first place in the game of social media blockchains, I don’t think Steem is going anywhere.

7 years ago in #steem by
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     7 years ago  

    I think Facebook COULD compete and win...

    How?

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       7 years ago (edited) 

      Does this need explaining with facebooks current user base in the billions, it’s power over the flow of information and the masses tendency to just take what’s easy and popular? If steemit monetizes content, the users have little incentive to come over here and people generally tend to follow trends.

      But I don’t see why we need to be number one in the space to be immensely successful. And I hope Facebook will be slow enough to catch on to lose a big proportion of its user base to steemit and other competitors. I do think Facebook will remain on top but it could easily lose a third of its users as people spread out. I will be where there is a strong proactive community and so far that's steemit. I don’t see myself going back to Facebook, that’s for sure.

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         7 years ago  

        If steemit monetizes content, the users have little incentive to come over here and people generally tend to follow trends.

        I am going to presume you meant Facebook in this sentence. And so what if they do. Doesnt YouTube incentivize content creators? What makes you think that Facebook, which ultimately answers to Wall Street, is going to give up a vast percentage of the money to the users?

        Also, what is preventing anyone from creating a new Facebook. Sure many tried, but it was in a centralized world.

        Understanding the power of blockchain means there is no defense for the traditional companies. Just yesterday I posted how Microsoft is going to use BTC, LTC, and ETH for digital identification. Those companies that are smart enough to embrace open blockchain will succeed...those that fight it get run over buy it.

        Facebook out innovated MySpace....that is why they crushed them. Facebook cannot out-innovate the blockchain....

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