Vlog 376: Steem inc. you need to be more clear if you want to restore confidence.
Yesterday's live stream was not good enough.
"We don't know yet what we going to do", is not what I wanted to hear, even though I understand it.
I know letting go of employees and the vision for the blockchain that was being build must have been a major blow to everyone but this is not the time to cry over spilled milk.
There is a major crisis going on that needs to be addressed fast.
Confidence needs to be restored.
One of the ways to restore confidence is setting some realistic goals for the blockchain that can be achieved in this bear market.
Personally, I like the idea of RocksDB (reducing costs of nodes) because this will help everyone that wants to build on here.
Second. Find a revenue stream. Relying on STEEM is not the way. This same goes for Content Creators, App developers and as it turns out even Steem inc.
It's hopefully the biggest lesson that will come out of this whole mess for everyone.
And third, use the community to help you guys out. Utilise your Steempower for this goal. (You delegate 2 million STEEM to Oracle-D that advocate this model and then you don't use it yourself.).
There are a lot of smart people here that can help and we are all in the same boat.
I urge Steem inc. to come up with a clear plan soon of action. Restore confidence.
I talk about it more in my vlog.
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I was personally very pleased with the Live Stream @exyle since they will not be pitchforking the blockchain and estimated that they can save about $750,000 USD annually once the cost reduction improvements are made.
When the market was still bullish they were focused on speed (not cost reduction) to compete with other blockchains, but now that the market sentiment has reversed they changed their tactics and will now reduce costs.
It looks to me like @ned is guiding @steemit well and I have no complaints.
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Having no choice but to take these steps because you forgot to build a war chest in good times for bad times is not great.
Rebuilding and focus on the core of the business + revenue is key now. That's why I am advocating for a fast and clear plan of action.
They still seemed kind of shocked during the last Live Interview but it seems like they are coming up with a plan now @exyle.
I encourage @ned and @steemit to continue with the Live videos and to update us with their progress and plan of action.
Hopefully they aren't counting on prices remaining flat since another sell-off is still a possibility.
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The rules of the game are very simple. There are only 9 cells: 4 of them are winning, 5 - losing. Open the cells one by one, until you open all 4 in a row. The win in this case is x118 of the bet! Symbol bomb - loss.
@exyle,
Yeah IDK is not works, when it's at the cooperate level! So, it's better they prepare a plan by brainstorming sessions to keep the business flowing and the price of STEEM might not effect it seriously!
Cheers~
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I think just a banner advert at the top of the page, like CoinMarketCap has, would bring in lots of revenue. Those of us that don't want to see it can use an add blocker. Some people will say that makes steemit like Facebook but I disagree. The problem with Facebook is that they use our data and they can censor or make us see whatever they want. They don't reward their content creators in the same way steemit does. Steemit needs to be sustainable and even if its just a temporary measure, some advertising should achieve that.
I agree. Users can use another frontend if they don't like it or an add blocker. I will turn mine off, anything to help them get revenue in the short run.
Yes Im also supporting this idea with advertising as an additional income source.
100% agree with you. Simple and efficient
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Yes, Steemit, Inc needs to make a lot of things clear - especially tell us what they will not do from now on. That will guide all of us into what we should do and where we can pitch in.
I agree with all of what you said, and I want the 'Simple Tokens' ASAP so we can feel a quick win that's both good from an investors standpoint but also good for community morale - I want to see some of the awesome people who have been waiting for a loooong time to get something in return for the wait and keep them 'in', not leave.
I do want to highlight that the livestream was a great start into communicating more with the community, I liked that he wasn't putting on a mask but really got into the comments that were voted to the top of the comment section.
If we could do something similar at least twice a month we all would feel better informed and more in touch with Steemit Inc, which will help us all to step up a little more.
My question to you is: what do you feel is something you start doing today that you feel has been missing so far? (I don't even expect a full answer, I just hope everyone will answer this question the coming weeks, including myself.)
Swearing in my vlogs. lol. (@ezzy pointed this out).
I will think about your personal question in the upcoming weeks but I first like to see more questions answered by Steem inc.
I doubt banner ads are going to bring in much at all. Most people use ad blockers. Steemit inc doesn't have massive views scrolling on the page.
I think a better idea work be for the dtube users to pay to upload. I'll pay 5-10$ a month to be in some sort of DTUBE subscription. We make more than that back in upvotes.
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I am no expert in blockchain or nodes, yet I read that Minnowbooster is running its own nodes and is even willing to lease them out. Here is the direct quote " BuildTeam is aware of this responsibility and thus, Minnowbooster as well as our other BuildTeam services (The Delegation Leasing market, Steemvoter, GINAbot, Quicksteem) have been running for a long time using our own private RPC node cluster in a self sufficient and community responsible manner; which means that even in the case of a catastrophic failure of Steemit Inc's infrastructure, our services will continue to run.
Up until just a few months ago we even offered nodes for the general public which we had to decommission due to the increased cost involved with running it and lack of delegation from whales who chose to delegate to other bot services that are not as conscientious." and link https://steemit.com/minnowbooster/@minnowbooster/minnowbooster-the-only-promotion-bot-running-its-own-infrastructure
Is it possible to take some weight of Steem inc.'s back by running more independent nodes? So if all the bots were to run their own infastructure, would that help the blockchain?
My hat is off to Minnowbooster.
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I personally felt a little relieved after watching the live stream. I think they already know that the answer is to focus solely on the blockchain and not on things like marketing and improving the appearance of steemit.com. I think they realized that they need to be more decentralized in order to survive so they won't need to incur as many costs.
I too am not buying anymore Steem right now until I see what happens in the future. Time to put my energy/resources somewhere else in Steem.
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After watching that live video from Ned the other day my hopes of steemit.com are rather low as well as the steem blockchain. Reducing your staff by that much and not having a plan on what to do leads me to believe you just wasted a year worth of work with nothing to show for it.
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Great breakdown of the current situation and excellent suggestions of how to deal with the future challenges @exyle. Thanks for that!
Appreciated and resteemed
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Well thinking about steem in long term is of no use now they first need to fix the basic things .... overall it was quite disappointment for sure
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