I think one of the things people don't seem to realize on here is that Steem is mainly investor supported. Meaning the price depends on how much investors are willing to pay for it. It seems like a lot of people focus on metrics instead of the investors/buyers.
Facebook is mainly advertiser supported.
The advantage of being investor supported is there is less reliance on advertising dollars so there is less need to run ads and deliver metrics.
The downside to being investor supported is that you are reliant on investors to fund your operations and I think there could be a question of long-term viability if you rely solely on investors to fund your operations indefinitely. In addition if you use your blockchain holdings to fund your operations you could be on a path towards losing control of your blockchain.
You should be able to google some of the many perils of Facebook/"Fascistbook" if you don't already know them. lol
On @whatsup's post Questions for SteemIt Inc. an alleged employee posted that Steemit's marketing team has been steadily growing over the past few months. link I think this could put some further price pressure on Steem.
Apparently the marketing team reports to Elizabeth Powell the head of Head Of Communications & Advocacy link I'm not sure how many teams and employees Steemit has but I would guess at least a dozen if not 100 or perhaps even more.
It was "interesting" to see the alleged Steemit employee get fla**ed by a Steem witness on the post
Sunday 9-16
#king
254.204 SP
2,918 VP
@djimirji up!
Wow the Steemit downtime today was scary!
Yeah I was thinking it would come back tomorrow. lol
I think the witnesses have everything backed up and I think they can always revert back to an older version. I'm very curious what happened. I guess I need to be on Telegram or something to know. I saw some stuff on Twitter.
Seems like there was a bug in preparation for the changes that will happen on Sept 25th.
I wouldn't be opposed to the introduction of adds on Steemit. I don't mean the over use of them in every post but a single add placed where we have our header wouldn't hurt and would equal more revenue and sustainability and may even bring new users and help user retention.
I thought facebook - and all its apps - were also investor supported through stock, plus advertising sales?
Ultimately they get their revenue through advertising. Without revenue there would be no investors. Initially Facebook and other companies may function very similar to Steemit but they are always clearly after revenue which is often in the form of advertising or more often sales.
It seems to be a pretty good stock. Have you considered investing?
I think Facebook could start going down. I'm neutral to bearish on Facebook long term. I think in 10 years Steem could be bigger than Facebook.
I have some Toys R Us stock I will sell you for a good price. It could come back.
lol
They aren't even bothering to try selling online.
http://www.toysrus.com/
Did you mostly give up on Steemit?
Amazon and Walmart won't make it - Toys R Us is the one to watch. LOL!
I was never really a big believer in Steem once I dug around - the "post anything and you won't get censored like on facebook" was a huge lie if you take into account that flagging hides posts and down voting takes your money. Heck, even Facebook doesn't take your money when you get reported. Then again, you really have to go out on a crazy limb to have a post removed by Facebook. I don't know anyone who has experienced that.
The make money posting sales pitch is a bit of a stretch, too. We all know that.
The only other big pitch is that Steem has a well used blockchain. So? Blockchains are a dime a dozen and easy to develop. Bigger isn't always better for new products.
I just don't see it going anywhere, especially since the much heralded Dapps are mainly social media and social media is in flux as culture evolves. If someone makes a direct messaging app that pays Steem, then watch out. It could go sky high. The token system would drag it down if they use that method.
I could be wrong, though, and it could explode. I am sure I have been wrong before.
It was my fault she got flagged. She had a level 25 account with no introduction post and was making a lot of short comments. I assumed she was a troll and flagged the hell out of her. lol, she came into chat where she was a very good sport about the whole thing while I told her I was sorry.
Regarding investor support.... Good points and I would make the case that the value in content comes from the speculation on the currency.
Good Article.
I didn't see that you had fla**ed her. I only saw the flag by the witness.
I think buyers and sellers always or almost always set the value.
Thank you.
I unflagged her, but I started it, and firepower just tried to help. Oopsie.
#badgirl #badsteemian lol jk ;) #weallmakemistakes
It seems to me like the witnesses should at least know who the Steemit employees are but maybe that's just me.
Careful using bid bots today. Steemit is forking atm ... I lost 3 Steem and found out the hard way.
Damn that's quite a lot. Hopefully you get a refund. You can probably try and ask for one. I'll probably do 10 or 20 cents especially with estabond.
Do you know why the blockchain went down? Are they doing the fork early?
Great post!
Thanks for tasting the eden!