Commentary #1- Will Steemit Come to an END?!?!- Thoughts and opinions
So recently, I've been doing some in-depth thinking of Steemit and where it's going in the next few months to years. And I asked myself, is Steemit going to be one of those dying platforms? And I have thought that Steemit may and I repeat MAY be a dying platform for a few reasons. And I'm not saying its for sure.
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(#1- If too many people cash out...)
- What makes Steemit run is it's power of its currency. If we have people that keep making a good amount of money and just cash it out to U.S. dollars or to something else, (as long as their taking it out of steemit), it is making Steemit weaker and weaker. And if we keep doing this...Steemit will come to a point to where it is so weak and unstable to where many people will start to leave Steemit and will become a dead platform. Just a possibility folks.
Image credit: giphy.com
(#2- Steemit will eventually have way too many people...)
- If steemit has way too many people, the currency and the number of people who have good power will eventually be less and less. Lets look at this in a fishing point of view. You have a ocean filled with 1000 tuna vs an ocean with 60 tuna. 1000 of the tuna are small minnows, and the 60 tuna are gigantic, and one tuna from the ocean with 60 tuna is worth 10000 tunas in the ocean with 1000 tunas. So in the ocean with 60 tuna, there are 60 fish that are actually worth catching vs the ocean with 1000 tuna which are small and not worth catching. So my point is, if we have too many people on this platform, it will dilute the system and make it way harder to make money, which may cause steemit to come to an end.
My thoughts and opinions...
-Honestly, the two things I mentioned are of course possibilities. And i'm not sure if they will really happen. Of course it can, but I don't think it will happen, but if it does, it will take a while. These are just some ideas I thought about when it comes to steemit coming to an end. These two points were something that i've been thinking about for the past week and decided to make a post about to hear what the community thinks about this.
image credit: giphy.com
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There is incentive to keep money as steem for steem power. The price of steem recently rose from about 30 cents all the way up past 2.00, and I only see this trend continuing. Steem is in the process of developing other apps that will allow more users to be involved without them having to be a decent writer. Once the site population grows exponentially payouts may be reduced generally speaking but people will still be excited to earn money for something they were previously doing just for attention. For now, Steem's future is looking pretty bright.
thats good to know
Always a risk and lasts forever, but what I've understood about is that it's no censorship and that's a big strength. I've heard that people have problems like that on other centrally controlled platforms and are now on Steemit. Hopefully people see more qualities with Steemit other than just earning money.
Of course...it's not about just making money...but many value that over everything else and just cash out.
That's part of the deal and hopefully there is others that want to join. I don't know if this platform is comparable to Facebook but some do. Some say Steemit is a competitor. I don't know but let's say it is and why not. It has its potentials. This is something new and The process globally is decentralization so why not!