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RE: Steem: SMT Testnet to be released in 1-2 weeks (They are finally here!)
That is part of it for sure. Had there been a social site, that could scale, pay people to participate and had a massive advertising budget, it might have been able to steal millions and millions of users from Facebook with all the drama over there recently. The problem is no site has been able to scale as of yet, or has the advertising budget to really make a run.
I have low hopes for Steem and SMT, as for last month there has been zero payouts even though I have been as active as in the early days when I got quite a big payouts... It seems Steem is yet another case when they pay out to new users for a while and then they change rules so old users and spammers only get payouts.