Looks like we're chasing each other around our comments, because if you catch up to those, you'll know what I've been doing.
I don't have a post today. There wasn't time, regardless, since I was out for most of it, but I already got 11 posts out this week, which is more or less my goal. I've also been spending all the time replying to comments, which is a good thing.
The friend who introduced me to Steemit was here in July of 2016, so I have some idea from him. However, I have read about it from earlier posts and I've seen the astronomical numbers that were attached to them, too.
The thing is, though, many of those were folks that received the initial distribution, plus whatever they may have invested, so there was all kinds of SP versus people here. Then, the price of STEEM was so low, that even if there was $1000 on a post, it was the USD equivalent of $10, which now would be something close to $8 in rewards to get to the $10 USD. So, it's all relative.
Until STEEM went up in price, they were holding onto a whole lot of not much.
For a while it was looking like we might dip below $1, but it's been treading water mostly since then. Even so, $1 is 100 times $0.01, even though it doesn't seem like much. A factor of 100 puts a dollar at $100, and another puts it at $10,000. So, it may have been easier back then to get it for a while, but it wasn't worth much and you would need to persevere to reap the rewards now.
The other thing about that is, the pay curve was different. You might get nothing on a lot of posts, and then because of the curve, feel like you hit the lottery. Not everyone was so lucky, though, and it just got worse the more people came in.
And, it's predicted that it's only going to get worse as more people come in after us, unless they bring in a corresponding amount of SP. Meaning investing and powering up. Just having folks opening up a free account that they hope to build from there through just posting, commenting and curating won't help. We'll need to attract the investor type too that won't necessarily want to go to the trouble of the social media/blogging aspects of STEEM, but will want to see a return on their investment and potentially do that through more than just speculation. Such as curation, or delegation.
well sir, thanks for explaining all this to me, that makes a bunch more sense and makes me feel better. Now we just need people with money to come in, I wonder how many people are joining these days?
This is what it looks like as far as new accounts goes coming through Steemit:
You can find this if you like on @penguinpablo's blog.
Now, when I joined, the numbers a day were in the thousands, like 7-5 to 7-7 on the charts. For a while now, they've been mostly under a 1,000 with these upticks.
That's not a lot of people, relatively speaking. Now, of course, it's not necessarily where the investors are coming in. As far as I know, you don't necessarily have to open up an account in order to buy and sell it. I could be wrong on that, though, in which case, everyone would be included.
wow, well isn't that good growth though?
considering the low prices?
I guess, but the slow down isn't so much the price of STEEM. In fact, it would makes sense that more people, especially those who want to buy in and have been tracking STEEM for a while, would want to come in while the prices are low.
However, the reason for the smaller daily accounts being opened is that the Steemit Inc folks have been using more of a manual process of approving accounts while they work on and eventually deploy Velocity, which is part of the upcoming HF 20. Velocity is an automated system that's supposed to be better at bringing on accounts than the automated system they were using previously. When that happens, then the flood gates are supposed to happen like never before, regardless of what STEEM is doing then.
The time before this last update, they estimated we'd see HF20 in the beginning of the third quarter. We're in that right now, and it ceases to be the first part or early part of Q3 when we hit the middle of August.
they don't seem to be very good at getting improvements out, if at all. they should put you in charge, fur would be flyin!
Yeah. Probably my fur, not theirs. :)
I've worked with developers over 20 years ago while I was working for a government agency. They were developing a new software interface that would allow us to do most of what we did on the computer. The developers kept wanting to do one thing, and we would say, well, okay, but will that do this and this and this, and they would say no, but it will do that and that better. Unfortunately that and that had nothing to do with what we needed.
They hoped to get something out there as fast as possible without much concern whether it helped anyone or not. I have yet to see where there's been much of a change in develop attitudes since. :)
great. so developers are developers no matter where they are probably and you've been hearing about changes coming and watching, but has there been any at all? A single one?
But they ARE coming! lol.