A month ago, we were all flying high. The blockchain was rocking along and people were buying STEEM. The bear grabbed all of crypto including STEEM sending it to absurd levels. This initiated many of us buying to take advantage of the low prices. What a wonderful time to power up to increase our stake on the blockchain.
Then the bomb was set off. We found out that Steemit Inc was having financial issues. What a kick to the gut. Suddenly, fear gripped those who were previously optimistic. What was going to happen?
Since that time, things became clearer.
Hence, if you liked Steem a month ago, you should love Steem now.
Here is the bottom line.
- There are no problems today with Steemit Inc that were not present a month ago. The difference is we had no idea about them. Their financial difficulties were not shown to us unlike they are now. At the same time, we each had counterparty risk with Steemit although we were not aware of it.
Just because we were not attuned to the problems does not mean they did not exist.
- If you thought the community was an asset before, double it now. Whether it is people like @shredz7 or @fulltimegeek developing projects that will provide the blockchain with token creation or @blocktrades stepping up with the expertise to code the blockchain and proposing their services to @ned, we see the value that is here.
Many in the community are stepping up. Developers are focusing on ways to create projects that can fill some of the void that Steemit Inc would leave if it went away. Non-technical people starting posting articles expressing ideas about how to decentralize. In short, the community awoke to the idea that this is our blockchain.
Welcome to the age of anarchy and the ending of looking to big brother to take care of us.
One of the major concerns was the fact that Steemit Inc is running the master nodes. I will give them some credit, based upon their postings, the move to RocksDB looks promising. A major part of their survival strategy is to get the master nodes down to 4GB RAM.
Here is where Steemit Inc achieving their goal helps the community. If they get the RAM requirement down to that level, the cost they pay drops significantly. At the same time, since it is far less expensive for Steemit, it will also be that way for everyone else. Therefore, many applications will be able to set up their own master node if they prefer, further decentralizing the Steem ecosystem and becoming less dependent upon Steemit.
Steemit also is, based upon what they said, more concentrated upon their development responsibilities to the blockchain and going to exit the social media side. Organizations that streamline their focus along with expenses tend to become stronger.
Hence, in 90 or 120 days, we could see both a stronger Steemit Inc along with a community that is less dependent upon them. That would provide a double boost to the ecosystem.
The point is that, regardless of what happens to Steemit Inc, the blockchain will go forward because of the talents of the people on here. We already witnessed how powerful the community is and how quickly it can react. We are looking at basically three weeks since the announcement yet much advancement took place.
I would be remiss if I did not mention @reggaemuffin and the work being done behind the scenes for the community (hint: a witness vote is a great idea). It is another great example of what talent is stepping up on our behalf. One individual is looking to be a major force at bridging the gap between what Steemit does and the community.
All this put together makes me extremely optimistic about the future of Steem. I do hope Steemit Inc is able to pull it together since it can be an asset to the ecosystem. That said, if the community has to go it alone, it is good to see we are more than capable.
The entire Steem community got a wake up call and it responded. We will see a much different situation 6 months from now.
This entire process is only going to make us stronger.
If you found this article informative, please give an upvote and resteem.
I knew that witness vote for @fulltimegeek was a vote well placed..
steem will set us free
Patience has always paid off. It is the time for everyone to stay calm and keep accumulate steem power. The amount of freedom given by Blockchain makes different project to fly high.
Just hold on and be faithful to the ecosystem
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Lol. Thanks for the laugh. !tip
Lmfao
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It is actually insane how people gravitate towards disaster and negative hype and get wrapped up in all of its nonsense! You must be a real fool not to see the golden opportunity staring you in the face with Steem right now...
I for one will not squander the opportunity to generate as much Steem as possible. The rest, who are whining in the background or have left all together will kick themselves eventually.
And as you said - whether the face of Steemit sticks around or not, really is of no consequence with all the amazing developments existing and underway!
Sorry, but all this sounds like wishful thinking. I am keeping all my sp just in case but everything indicates this place is going to the gutter.
Custom_json tokens won't replace AND/OR aren't an alternative to SMTs.
And if you mean this: https://github.com/SteemCommunity/steem
Talk means nothing if actions aren't following. There are no community developers working on blockchain code. So we're still highly dependent on Steemit Inc. improving STEEM.
And if we're not able to improve STEEM, we'll have a very bad time in the future, blockchains are getting more advanced and the headstart STEEM had (and might even have right now), will not be enough not too far in the future.
So @therealwolf where do we go from here in your opinion. I still have a gut feeling Steemit will sunset....
Steemit is not the issue here.
Steem is.
I think you have that backwards 😀
It depends on what you mean with Steemit. Steemit.com? Steemit Inc.?
I personally believe in optimism & pragmatism with an extra portion realism.
The mess we're in right now is deep and it will take some work to make sure Steem isn't being overtaken by newer blockchain projects. However, it's possible when people start doing instead of just talking.
There are some bright minds here.. I hope they step up 👍
When utopian announced their witness, I had the impression, they would help developing steem.
But sadly it seems, main driver and maintainer is still steemit Inc.
Not only do most of the changes come from their side, also most ideas are developed there.
Or stuck in development.
Not sure, how to improve the current situation.
This post got an extra 5 power for following us
Follow @elsurtidor to get biggest votes in your next posts
Totally agree. Many projects are emerging on Steem blockchain and that just increase the value of that. Many people need to stop see the price and start to see the value of blockchain. Me, more than ever are more active, commenting and sharing everything that I got here on Steem.
Thanks for sharing
Cheers!
If we are to promote Steem it's better to promote the censorship resistance of blockchain tech rather than potential price hikes...
That is the first thing that I said for people who want to be here.
Every time someone talk about the censorship that have in Facebook, Twitter and Instagram, I say... Well, I know a place that we don't have nothing like that... and them I introduce the Steem.
Cool, the concern of censorship is so widespread lately... It's probably will be a good time for Steem and crypto in general when people realize blockchain has the thing they've been asking for a while....
For sure, I think that the majority people that didn't use Steem is because they don't know the platform. Making money is consequence of the platform, but the idea of no censorship is the main attribute here.
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You just planted 0.05 tree(s)!
Thanks to @fuadsm
We have planted already
4167.03 trees
out of 1,000,000
Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 32930.82
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
Great post !
I love steem now cause of the relationship that we build with each other
It’s more value than steem itself
Keep on postin
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Thank you so much for participating the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
All I need to know is im enjoying using the site and getting rewards for it, can't really complain about that
The recent news has also led to increased usage of alternate front-end interfaces like Busy and SteemPeak which is a great trend that will support the ecosystem’s sustainability over time!
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