RE: Steemit: The Current Identity and the Lack of New Investment
Good thoughts David,
I've resteemed several of the posts you mention, so folks can find them in my blog. I posted one of my own too, trying to spark some discussion.
@smooth made a comment on one of the recent posts about the concerns regarding Steemit, Steem, etc. My understanding was that he thought the payout/curation model wasn't really sustainable as a solo project, regardless of the bells and whistles, but that the projects that are built on it are what will make it a valuable product. This makes sense to me, and was reflected in another post today, though I can't recall the author.
There are various enterprises being pursued right now as Steemit is still in beta. IMO, this is encouraging, and an invisible layer of value at the moment. It needs to remain invisible until such projects actually launch, so as to not make empty promises. But for those who can see them and realize what's going on, the possibilities are really limitless.
I bought into Steemit and powered up twice. All my payouts have been powered up. Even when I received donations for various projects, I paid the donations out from my own pocket and powered up the Steem. And I have another order on an exchange if the price drops more (mixed emotions on that one :) ).
This is because I think that some of these projects will make a big splash, which will breathe new life into Steemit. Also, we have to remember that we're coming off what might be termed a "celebrity spike". The valuation was unreasonable and there has to be a payback. When a spike goes into bubble territory, it generally corrects below true value before finding equilibrium. Right now it seems to be reaching for some solid footing, whatever that might look like. Perhaps it'll be a penny before it's bled enough. I hope not, but it's entirely possible.
At this point, I don't regret coming here and still would have if I'd known about the challenges. I do wish I'd come earlier so I'd be a larger fish. But it is what it is. And if we do come out of beta and get a flush of new users, especially with the new options various projects will offer, our little-fishyness will mature pretty quickly. With that in mind, I think we're here at a good time to capitalize on it being beta. Weak hands will walk. Others will take advantage of the blood in the streets and hopefully reap nice rewards in the not-too distant future. Even if it takes a couple of years for Steem to reach a dollar again, it would still be a decent payout if we're powering up today.
Thank you. There have been a lot of them over the past week or two and I just didn't have the patience to navigate through tags to find them. (That's why we need better organization!)
No doubt. There are a lot of applications that are running off of the blockchain. I think many of them really need to be incorporated into the Steemit.com interface - or at least have several of the projects linked to it and easily accessible from our profiles (that also need to be developed) or from the drop-down menu on the page. Right now, the useful applications require you to leave Steemit.com - which is entirely counter-productive and counter-intuitive for social media purposes. Users and visitors should be retained on-site for as long as possible. Granted, we don't have advertisements that require their existence in order to fund the platform (yet), but keeping them here holds their interest in the site. It will encourage current users to interact more and may entice potential users to join us.
One of the things that really needs to be tied into the user interface is Peerhub. I would also like to see the streemit.online project and other video-based applications incorporated into the site. Having a YouTube-type site tied to Steemit could possibly be a game-changer. Instead of creating content and sharing it from YouTube, you could create and upload it right here on Steemit - or at least have it stored on a site like Steemimg.
Yeah, that's definitely the case. Unfortunately, there doesn't appear to be any solid footing. I wrote in another comment on another post that there simply isn't enough of a history to pinpoint any support or resistance. With all of the downward pressure and general lack of interest on both the user and investor sides, there's really no indication that the price trend will change in the near future. The only real hope is to get a bounce or two from development- or marketing-related announcements. It doesn't seem likely that we'll get it from prices alone. It's too hard to put any meaningful valuation on Steem/Steemit right now.
At current prices, $1 sounds absolutely dreamy! That would give me heart eyes. In the meantime, I'd settle for some useful features that can attract and retain users, make this place a little better organized, and help move this towards a functioning, full-release platform - even if it's just for bloggers. You have to start somewhere. Let's shore things up for the creative blogging community, then worry about adding the cat-meme sharers and Kardashian worshipers.
Thanks for the comment. It's always a delight to see you continually putting good thoughts into them.