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RE: STEEMZINE #22 - STEEM Where Is The Floor? The Fate of Steemit Is On The Line
Well said. I agree. This needs post attention.
I am holding out hope that the dev team is planning some major new thing that will breath life back into the currency, but right now I don't see what catalyst exists on the horizon that is all of a sudden going to cause the price to keep going up.
There is also the hope that we can ride the downward trend long enough and still stay alive to where the user base reaches a critical mass and it explodes. I think the retention issues you mentioned are key though, and what has me worried about things playing out this way.
spot on @timcliff - one thing is getting people interested, another is keeping them on the platform long enough to grow something that is sustainable.
But yes, what will propel the price up....I'm not sure. Some mass partnership announcement maybe, but that is like any cryptocurrency which bounces up on any news even if it's not even that impacting. It's fickle.
This platform is slightly different...as where to nexT?
The retention issue may become a big problem. There are already alot of newer users getting discouraged after a few weeks of contributing and seeing their posts earn pennies. Hell, my posts earn pennies and I'm an experienced writer. Though I'm here as much for the social experiment as anything else, even I've gotten annoyed by it.
For now there is enough influx of new users that it won't be an issue, but that's not the answer. Then it would just be a user ponzi scheme.....new replacing old on a constant circle to keep it afloat.
Well that is problematic, of course it has annoyed you. Here is a question Would you be contributing to the platform if you couldn't potentially get paid? Or would you do something else? Would you use other outlets to write? @scaredycatguide
This is what they have to deal with.
Exactly! I love to write and create content. But would I do it here if there was no potential to earn. Yes and No. I would still post here, but it would only be content directly from a blog to help build my following.
I likely would not create all the additional original content I post here exclusively.
I have a feeling that opinion may be widespread throughout the user base. It certainly is a dilemma steemit will have to face at some point.
Either way I still plan to buy some steem power, but am looking to get it as cheap as possible before the next spike....cus there always is a random spike on any blip of positive news. :-)