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RE: Let's Bring Promoted Posts Back - A Great Way To Reduce the SBD Debt!
I don't have a problem with today. I like it just fine. I need more time to accumulate low cost Steem. I'd say when I have about 10K would be about right.
I don't have a problem with low prices either. If it stabilizes, I feel like it's a second chance to get in on the ground floor. But, when I look at the falling market cap, I'm seeing Enron redux. It's now at July 4 levels, and it's showing no signs of even slowing down. I'd like the platform to stay alive for long enough for steem to eventually gain in value. At this point, I'm not very confident in that outcome. If upvoting some promoted posts once a day and maybe promoting some of my own helps to achieve that outcome, I'm on board.
So how can it die?
_Steemit is controlled ONLY by its community members. There is no agenda besides freedom. Most certainly, there is no large corporation or government calling the shots.
“We still believe in the free and open marketplace of ideas,” as @cryptoctopus wrote. The Steemit community believes that when differing opinions are allowed to compete against one another, everybody learns more about those issues and perspectives. Everybody has a chance to discuss and debate ideas. May the best idea win, and may everyone treat each other with respect and understanding.
The money? Steemit does not have any mega-banks or billionaires to please. Not only does the Steemit community control the content; it also owns the whole project. In essence, anyone posting or upvoting good content gets a chance to share in Steemit’s ongoing growth and profits.
(nest)If it goes under, that would be too bad.
All I have invested is time.
Time I'd have spent doing the exact same thing on FaceBook...
so there IS no downside for me.
The upside, however, could be HUGE.
Someone's got to fund the steemit web servers and pay to keep the witness nodes running. At some point, it's not worthwhile to pay for that infrastructure. I'm the first to admit that I have no idea how close we are to that point, but it's out there somewhere. Yes, you can always keep a copy of the steem blockchain and resurrect it with new infrastructure, but the steemit web site is a start-up business, and start-up businesses die all the time. Residing on the blockchain doesn't turn it into a perpetual motion machine.
Here, let @dantheman tell you,
Steem Dollar Stability Enhancements
According to coinmarketcap.com, the current SBD market cap is 1.5 million and the STEEM market cap is 21 million, so it's not at Dan's dangerously high 20% yet, but at the rate steem is falling, it's uncomfortably close for my tastes.