SteemIt is just a distribution tool for steem and the reward pool is there for networking and distribution until there are more "Mission Centric" apps built.
Steemit is the centralised rollout version, shopping window to generate initial traction. The value, ultimately, comes from there being hundreds, thousands interfaces and apps, verticals.
If that understanding leads to resorting to bots, then it has been never as easy as claiming, or for those who do admitting, that bots equate to grabbing whatever you can while the fun lasts.
Well what remains to be seen is does it draw enough attention to gain value faster than inflation and bad actors.
Seem to be going okay today.
It's a dead end street. If every day a larger share is attribute to bots, and available only for pay, we won't draw positive attention to attract mid- to long-term investors.
Because it is important to understand that for anyone calling themselves a real investor, 30% doesn't cut it. In fact, 30% barely covers all fees involved for many investors. An investor typically looks for a 3-4x return. Add to that the losses on other investments and a real return worth the investment is 20x.
Crypto is unlike anything else. We aren't doing that awesomely. Today is irrelevant. Long term matters. Currently, as BTC still dominates everything and has most pairing on the exchanges... the markets are up.
It's that simple.
If some day altcoins are unpaired from the min cryptoes, then we will start to see what is the real value of each token. Independently of the day's market performance. Until then... pump & dump is the game of the day. And most cryptoes will benefit from being traded against other, stronger cryptoes.
You've done a lot right with your commitment to the platform and its userbase. Don't waste it, blinded by a quick 30% profit. We're making the platform interesting only for quick buck vultures. Not for investors.
While frankly, I just disagree with you. I hear fear, and I read a lot of assumptions stated as fact.
My career was taking off during the dot.com bubble which I worked in and capitalized on. Large investors don't give a crap who is on the trending page and how they got there.
The ones who care are the content creators who do not wish to put money in. Can you tell me, can anyone tell me who was on Youtube in 1997?
YouTube launched in 2005, right?
Indeed, long term platform investors don’t care about trending. Because most likely they will even invest in another gateway to the Steem blockchain.
They will do their due diligence to how the pool is distributed tho.
If they discover that every day for pay bot operators have more SP, and thus distribute more of the rewards pool, they will consider this platform as a not viable option because the rewards mechanics are siphoned, and dominated, by the bots.
That’s what they care about.
As you wrote recently, it’s going to become always more difficult to earn on Steem. Even more so if bid bots operate at always larger stakes.
As you wrote recently, it’s going to become always more difficult to earn on Steem. Even more so if bid bots operate at always larger stakes.
Which gives investors reasons to put money in.
Not if the distribution is b0rked by P2W.
I know it’s difficult to accept that but that’s the fact.
Last we need is people coming for quick daily returns. That doesn’t build better platforms.
This isn’t about Steemit. This is about a whole system, a platform. The Web3.0, the Internet of Infrastructure.
Verticals like Utopian and SteemHunt. Parley. Whatapp (Quora alternative on Steem). SteemMakers.
And all share that same limited pool.
Look at Parley.io and see what’s wrong with Steem right right now. Think that’s what will create a Reddit alternative?
Yet that’s what Steem is about. A whole new ecosphere.
With an already massively flawed distribution, a pay to win game which becomes worse every day.
If nobody can earn anymore without paying for it, critical mass won’t be achieved and there will be no hockeystick growth curve.
That’s not interesting for investors in new platforms. That’s good for subscription model SaaS platforms.
Not for content creation platforms which rely on “come for the rewards, stay for the community”. Then an elite membership club makes more sense. If you don’t care about also offering the large masses to earn a living. About creating vertical social mobility.
About rewarding people for the quality of their contributions.
I don't share your views... We shall see. The internet and social media have never been about quality content. It is about networking.
Investors already know life is not fair. They learned that and then they learned to capitalize on it.
I am fine if we disagree on the vision. That is what makes Steem interesting to me.