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Trust in Steem?
Well yesterday I did swap some SCR with Steem. And the one with which I was doing the swap, asked me if I still have so much faith in Steem.
So do I?
Well it is hard to tell. To start we will have to put things in perspective. I do have much more voting power on Scorum then on Steem. The difference is huge. I had a lot of liquid SCR and was planning to sell some on the market. This would cost me some transaction costs and so fort.
Since I made it to the Diamond League in Steemmonsters, I did feel that it was needed to upgrade my collection and for sure my summoners.
So that was the reason for the swap.
So the biggest part of the Steem was used to for Steemmonsters, but I also powered up a little bit more than 70 Steem! This is only a little drop in the bucket towards Dolphins level! In the complete Steem Ocean it isn't even noticeable!
But to return to the question, do I still have hope in Steem?
Well yes I do for some part. There are lot of things going on. Both on the positive as on the negative side!
The negative things are known to all, so I will leave this out of the debate!
One of the things that I really see push Steem forward are the Dapps.
Steem still has a vivid community. People are trying to develop things and by doing this trying to add more added value to the Steem Blockchain.
The best example of this is Steemmonsters. This game rocks and is something that brings people out of the steem blockchain towards the steem blockchain. It is also something for which people are willing to purchase steem to power up their decks.
If there could be 2 or 3 more games like this, Steem will have a bright future.
What is needed to make Steem a success?
Well for start there need to be a solid base and community. A community which is willing to invest in Steem and willing to try things.
This requirement is already fully fulfilled.
We do have a blockchain available for us, which is solid. Yes it has flaws, but it can be considered as one of the more evolved blockchains out there!
The problem is that Steem needs business or things for which people are willing to purchase steem. Only this will lift the value of Steem. The blogging platform on itself will not make Steem big(ger).
There need to be things for which new people are willing to onboard the Steem train and things for which people are willing to purchase steem. The only way a coin can grow is that is are more buyers than sellers on the market!
If we would stick with only the blogging part, some people are willing to purchase steem because with more steem power, you will have a better ROI. But at a certain point people will stop buying and will try to recover their investments, so it could evolve into a situation in which there are more sellers than buyers.
What about you?
Do you still have faith in Steem?
And what do you think is necessary to make it a success?
And when do you consider it a success?
Would really like to hear your opinions!
Cheers,
Peter
I was talking to a WordPress blogging friend recently about Steemit, and convinced him to give it a shot, so I definitely still have faith!
You make an excellent point about Steemmonsters (and one of these days I plan to check it out), and how a few other Dapps like it could make a big difference.
At the moment, my Steemit account is worth around $430. Over about the same period of time (16 months, give or take), my WordPress blog made just barely $100 through Google AdSense. I consider that a win! 😊
It indeed is much easier to earn than with a wordpress blog. But to give it some value we also need people willing to buy steem. If there is nobody out there to which we can sell our earnings, that there would be no use case. Than the $100 from adsense would have more value!
Steemmonsters does create a market where people want steem of SBD to power up their decks. Which is something we really need.
If besides the blogging platform there would be more dapps like this, Steem could start it own crypto course within the crypto market, now it is just following the market!
Thanks for the comment.
Cheers,
Peter
If we can create an ecosystem within steem where we can get things we want without local currency, do we really need to worry about selling our earnings?
I do wave some faith in Steem, but yes, at the moment the weak point is as you point out. Why would I buy more STEEM?
I can't buy enough to make an appreciable difference in my daily experience at present, so until something comes up where that is the case, then there is a bit of stagnation in the works!
That is exact why I do see Steemmonsters as a blessing. For the moment it is still a drop of water on a very hot plate. But if other game designers do see that such things can be successful than we could have a real lift off!
Thanks for the comment.
I have some faith in steem, but I think it needs to be easier to purchase if we ever want it to be more widely adopted. Add that to having real things to purchase with steem - like you said, bringing businesses onboard - and we can have a bright future!
Yes having a less techinical way to get onboarded and get money into the steem ecosystem will help. I think developers and influencers will bring businesses on board. Developers to make the experience easy and useful, influencers to get people to take an interest in the platform. If that happens, the businesses will come.
@fullcoverbetting mmm yes, I do!! I see how people are still posting like usual whether steem is 25 cents or 5 dollars. I see how the community - like our #powerhousecreatives - is stil so vibrant.
As for the business side of things, my gut feel is that not now, but maybe in 1 or 2 years things may slowly start to unfold. We'll see ☺️☺️
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We all hope that it will lift off. But I do think that we need to understand that most of the value of Steem is based on the complete Cryptomarket. If the market goes green, Steem goes green. If the market goes red, steem goes red.
I do think that we need some more things like steemmonsters, things which will allure people to invest in Steem.
Things like these are now more needed then ever because the slow down in the development on SMTs.
Yes, people do keep on blogging and there are some great communities. The question I do have is if this is enough to flourish Steem?
Things like steemonsters give me hope and hopefully we get more of them. Not too confident of the business side of things. Seems like they need a good finance guy to keep things grounded.
PredictEv could also give some added value. But I do guess that they slowed things down because of the more or less hibernation of the SMT development!
A financial wizard is indeed needed, just like a visionary to guide them to the right direction!
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I still have...but, honestly, we should ask this question in a less bearish moment and not now... The negativeness due to the market is so high that affects our impression on Steem...putting aside @ned and Steemit
I know that the timing for the question is maybe not the correct timing but I did feel it an interesting question regardless of the bear or bull market.
I do find it difficult the answer the question myself. It is more a gut feeling.
Thats not a bad way to power up and im sure once you reach a point steem monsters will start paying itself back over time.
Are you as active on scorum as you on steemit? How much are you pulling in a week on that side? Very interesting to see how people are using their earnings
Not as active as I want to be and for sure not as active as on the Steem blockchain. I was one of the first adopters, which made it easier.
Hard to guess, but I do consider it an average week when I did pull 500SCR. Top weeks are better, bad weeks are not that much less.
I do plan to use a part of the earning from there to invest into other crypto currencies. Steem is one of the them. The price of SCR is around 1/3 of Steem. But the platform is only 6 months old. So not too bad.
It all will depend it they can pull it off with the betscorum (a sports betting exchange). If they can make this big, an value of at least $2 per SCR is probably a low estimate.
What encourages me the most is that a strong community base has been created with the value and ecosystem in mind and having the financial reward side as a secondary goal in the short term. This will alleviate the pressure of value extracting projects coming and going which is helping distribution of SP to a wider and stronger base.
Posted using Partiko iOS
It indeed does. But there need to be an extra incentive for people to buy steem, besides the curation power it does give you. Things like those will put steem in a better daylight, which is maybe something we need.
I am but at this moment I will not put more money in the platform.
Posted using Partiko Android
I also wont put in new fresh fiat money. But this was like investing free money, which I did consider a good investment. The biggest motivation to do this, was because of Steem Monsters!
I have trust in Scorum.
Me too! Without a doubt!
I still have faith. I think steem will be the foundation blockchain for many future soc media dapps that will steal fbook and twitters users. This is the way I see it playing out if, and it is still a definite if, blockchain tech as a whole wins out.
Blockchain overall will in certain markets but will fail in other markets! But it is hard to tell which ones will be conquered.
Would be great if Steem could be the foundation blockchain for social media dapps. But because it is open source it is easy to copy. Look at all the steem clones out there!
Yep, I see them all. I am an active poster on whaleshares for example. But, I also see a lot of people buying and powering up steem right now... you included by what you're saying in this post. Even if steem doesn't win out 'google/fbook' style, it has at least one more surge in use in my opinion. Meaning surge in value also. Just as crypto currencies aren't dead, I would say that steem isn't dead either. Only time will tell :)
I still have faith, this is a place to make friends and makes money, even though it's getting lesser throughout last year, but hey, I still can pay some bills with this, so why not!! ;)
I still believe in Steem. Not at at all in SteemIt Inc., but I do have faith in the Steem blockchain.
There's a whole lot going on, but not enough, IMO. We need more developers, but the problem is that STINC has given de Steem blockchain a rather bad name. Any publicity we get from the outside is mostly not very positive. Just take the issue with TDO earlier this week. The media used this once again to brig down SteemIt and promote the competition.
And the outside world doesn't know that Steem is so much more than SteemIt. I think that's what need to change if we want to get somewhere.
Steem literally has an opportunity that no other crypto has to succeed, it is to be seen if they just fuck it
This is from someone who has never seen the price of Steem go above $1, so not letting the price of steem dictate my thoughts. Plus I still consider myself a noob on the platform, despite being here for 10 months. For me, the bots and manipulation of the trending page need to be gone because seeing the same folks over again on there, plus a lot of bickering is made public - looks like a bunch of kids, is that good to encourage more users? I don't think so.
However, the community outside that is strong and there are developments with dapps that are adding value in some way, which is a promising sign.
It does need to be made easier to comprehend, things need to be done under the hood so one doesn't need a PhD in cryptocurrencies to understand it!
Definitely more games would be good for "in-game" purchases using steem (micro-transactions for customised skins for example - just look at Fortnight Battle Royale) - this would have the possibility to get more buyers in.
Just some thoughts from a guy who has enjoyed being on the platform in the last few months since September 2018 as I was intending to leave until I met communities like Travel feed and #powerhousecreatives
Well, you triggered something. Made me resteem and then answer in a separate post
Glad I did, will read it and comment later today.
cheers,
Peter
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