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RE: Is Steemit In An Economic and Social Death Spiral??

in #deathspiral7 years ago

What I think is pretty simple: Steemit changed its logo, forbid folks from using said logo, tested new updates on a live site and rendered it barely usable for a prolonged period of time -- it is evident to myself that Steemit Inc wishes to distance themselves from the Steem blockchain. The Steem blockchain, in turn, through the introduction of SMTs and the continuous creation of 3rd party sites and support services, is looking promising.

The issue is we're at a point where there's mass-use and the closer we get to the mainstream the farther we get from quality at all levels. What we need is more general understanding amongst the user base. What's the difference between "Steem" and "Steemit"? What are "witnesses"? What is a "frontend" and a "blockchain"? That sort of thing.

I like your idea of getting external opinions. I think I'll give that a shot and see if anyone involved in a parallel if not competing project wants to take a shot at an answer. Will make a post if I get anything.

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STEEM and steemit.com are clearly different. And the founders are more interested in making STEEM more technically capable.

You and I align to that point.

We differ on the 3rd party apps. Why would they stay on STEEM long term, when there will be far superior chains, like EOS, that they can move to soon?

Counting on 3rd party apps to make STEEM go looks in my opinion to be a MAJOR STRATEGIC mistake.

The founders would have been better off taking their leading position with steemit.com and focusing all energies on making steemit.com better, the best, unassailable.

As it is, steemit.com will become the myspace of social media on blockchain.

The "Facebook of social media on blockchain" will be coming along soon. It will be a company virtually no one has heard of today, it will come out of nowhere, and in 10 years be worth a trillion

And the founders of steemit.com will be able to go to parties with the founders of myspace.com; and commiserate on their bad timing, bad luck, bad execution, and bad strategy,

EOS isn't out yet so we'll see how that works but I see your point. No matter what I try to think of to counter your argument I can't.

My original thoughts were that one of the 3rd party apps may be successful in every way Steemit could not be (and evidently does not wish to be) but that is unlikely. And that would be on a relatively minor scale, nowhere near the level of Facebook or the like. We don't have the professionalism for that.

But yeah, you're correct and pretty much predicted the future there.