The Solution - The solution to this issue is a better designed system launched by another project team in the future. Steemit is great and I do not see anything being better than it any time soon. That said, something better can be made, so eventually, it will be made. Sadly, the way to do the better Steemit is to have a corporation do it. A corporation is going to be driven harder and faster to succeed, and this hard fast drive, I have seen to be missing from the Steem and Steemit development communities. One reason is this is the nature of open source projects. Open source is great at producing solid, bug free code, over long periods, enabling people to freely use the code base. Open source is terrible at competing against other corporations.
Without that drive to succeed, Steemit will not beat out any social media giant. It can't happen. To be a social media power house, you have to think ahead, and be constantly driving and scaling, and doing investor capital rounds to fund growth faster than revenue. For a while, (maybe still happens) it would take multiple days to sign up for a Steemit account.
Do you know how many serious corporations would permit this? If I owned a social media corp and my development team told me it took multiple days to get a user into the system, I would fire their butts for incompetency. Steemit corp then is incompetent, and I cannot tell you exactly why that is. Maybe it is because they try to be profitable for the size Steemit is at so it limits their ability to grow and change. I'm sure there is an honest reason for it, but incompetent results is what we have received from them.
A real social media platform on blockchain is going to launch with the goal of user adoption, first and foremost. On the backend, they are going to monetize with ad revenue. Ad revenue only arrives if there is a decent user base in the millions. Really, it needs hundreds of millions.
This gimmicky thing we do on Steemit where people are paid by inflation... it's gimmicky. A platform that just had tons of users and monetized ad revenue, but paid people in crypto would be better. This way, people are paid by views, and there is an economic value attributed by advertisers to content creators for the views they can generate. It's a free market system, rather than a gimmicky system.
you have said everything, @crypto-investor. now I rest my case
hello @crypto-investor, what do you think of our response to the news of BTCC closing down? > https://steemit.com/bitcoin/@blockrush/btcc-will-stop-trading-bitcoin-5-important-things-you-should-know
I've posted similar before. The site needs to find a way to attract advertising dollars if the mythical STEEM at $10 goal is going to be achieved.
Without a solid plan and implementation team to get advertising dollars involved, STEEM will be a cool experiment, but unlikely ever a major crypto.