The platform withers as those that would have sustained a viable one are disengaging day by day knowing that rampant abuse of its inherently flawed rewards structure continues unabated.
Steemit Inc and its CEO are asleep at the wheels, with no apparent commitment to resolving any of the site's evidently systemic problems.
The disengagement is happening just as one would expect it to. Even the steem white paper echoes the unendurable nature of the present situation: "Any imbalance in the give and take within a community is unsustainable. Eventually the givers grow tired of supporting the takers and disengage from the community."
What's to stop the community from hard forking Steem and making a our own site?
I don't think that would be worthwhile to be honest. The steem blockchain has potential. It just needs to be extracted from underneath the layers of disarray that have obscured that potential.
This site is currently the face of the steem blockchain. It should not be in beta nearly two years after its inception. The roll out of SMTs may perhaps steer the market's attention elsewhere, and that may ultimately be Steemit Inc's intent in focusing on SMTs instead of addressing the foundational issues of this platform.
If that is the case then it is unfortunate, because a house can't be held up on a weak foundation. Steemit can be better than it is today, in my view. And SMTs and everything else built on the blockchain would be better for it. Even Dan Larimer has implied that in its present iteration the blockchain's rewards distribution mechanism isn't sustainable.
Well there was a hard fork called golos.io
Very well said. Almost poetic in composition.
I hope they are right about SMTs. Otherwise...
Thank you. Yes, I hope they are right too. Any deep pocketed crypto market enthusiasts will take one glance at Steemit and sees that it's in beta mode after nearly two years of being online and just shakes their heads. Perhaps the market at large has been so starved of expectations from the company that the promise of something innovative via SMTs is enough to have sparked the current rally we are seeing in steem. Who knows.
I am personally astonished that Steemit Inc has not marketed the passive cashflow opportunities presented with the SP delegation feature. I just recently discovered this functionality of the blockchain and it's the only reason I haven't liquidated my speculative holding. If I understand it correctly, it's essentially like the concept of proof of stake.
Many contend that it's the very promise of this feature that sparked ethereum's rally to second ranking in global market cap. And here we have something similar to it today with the steem blockchain and there is no sustained and clearly articulated marketing push to explain it from Steemit Inc.
But hey, Money Talks right - let's just plaster that on the home page. Ugh.
Well said, and it's sad to see so many leaving on account of the abuse. Perfect quote you cited, also!
Thanks! I'd like to see the blockchain succeed. I see Utopian, Dtube, and other apps being built on it and am relieved that at least some innovation is occurring. But it is a shame that Steemit has been disregarded in all of that. I'll stick around for the commentary. The original posts, not so much. Not until things are turned around for the better around here.