I decided to join Steemit mainly because I saw the potential of what is essentially a combination of Youtube, Reddit, and Tumblr. This platform is great because it combines the up-vote system of Reddit, the pay-for-content of Youtube, and the blogging aspect of Tumblr. It all comes together to create what may be the next big social media platform.
However, I do have some questions concerning the future of this platform:
Why is the price of STEEM dropping, and what is being done about it?
Is there a contingency plan for this platform, namely switching to advertisements in order to generate revenue and pay creators?
What's the point of having whales, dolphins, and minnows? Isn't it more fair if everyone had equal voting power, like they do on every other major social media platform?
Welcome! The price of Steem is dropping for a few reasons. For one its highly inflationary because of all the Steem created to reward content, curators, and witnesses/miners.
Another reason is a lot of whales powering down to help redistribute the wealth.
There is no contigency plan I'm aware of, but Steem Power helps protect you some as it increases the amount of Steem you have.
If everyones vote was worth the same it'd be easy to game the system and create hundreds of accounts to vote on your own stuff so I think thats why votes are not made equal.