RE: Steem 24 hour volume is 3.4 million. EOS 24 hour volume is 1.4 billion. What does this mean to you?
I think if they put out a Steem 2, as has been hinted at, it will create a huge amount of hype.
Many people are going to be sad/mad anytime you throw money in the mix. If they do a Steem 2, I suspect we might get some of the their churn.
Regarding the churn rate, (60k users and 1m. accounts) My opinion is that steemit is the wallet. Many people never intended to be bloggers. Many others signed up on a whim. I know I have one account I've never used.
I don't find the churn rate upsetting. What I am very concerned about is our lack of identity, vision and plan to move forward. I am hoping that competition will help wake that up.
I am interested and also invested in both platforms but as of now, I don't see any competition. I don't think I would go through the process of building a following again, but I never say never. :)
Good point about churn. There will be some leaving here to go there, but there will also be people there coming here. I am guessing that many people will just post on both. As a contributor, putting it on 2 blockchains is better than one. Its not as if people here dont go on Instagram, Facebook, Reddit, Twitter and etc. every day too.
One thing I didnt point out that doesnt matter much to me is that 60k active users is probably filled with a good amount of robots, services and alt accounts. I can't say an exact amount, but I see the bots and there are lots of them.
I dont see competition either. Ethereum has a blogging site now, there are a couple others like Library Credits. They are hardly competition to me though. Without a doubt it is coming, and with the current state of the social media aspect of this site, I see many points of weakness that a competitor might attack.
Thanks for taking the time. I hope all is well with you and Roundhere!
Exactly, good comment.
Currently there is no competition or not something anywhere close. At least not for the next 2-3 years. The market for this is huge. There is so much land grab you can do right now. Just have to look at the amount of users just Facebook has. Looking at prices is a waste of time. Unless someone plans to live their future life with Fiat. But that is not where things are heading in the future. So the Fiat price won't matter.
Just as you state most people will never be bloggers. They are more passive. But they still in the future will love when they get used to it the ability to send value in 3 seconds and especially the no fees part. But again the adoption to these new platforms will take years. I think competition surely will help boost up the vision side since it's just human nature to grow lazy when you have nothing pushing against you. The DNA see no reason to invest or expand energy.
Competition will be here in 2 months with Ono. I am mostly certain Dan will release a competitor to both within 1 year. He built Steem from scratch in 1 year, he has lots of the work already done having built EOS to save him time building other projects like Steem and Bitshares. You and Whatsup are giving me a little more hope than I had just thinking to much and keeping it all to myself though.