Steemit in a slump? Or is competition taking over? Maybe there's more to this story...
Cryptos across the board have been down, steem and SBD included.
But is that the only reason people have slowed or even stoped posting, or is there more contributing factors?
I'm still relatively new to Steemit, crypto and blogging... Can't you tell 😉.
Steemit was the reason my wife and I finally decided to bite the bullet and invest in crypto, and how happy we are that we finally made that leap, better late than never is what I originally thought. I've since learned... It still is early days!
It has also opened our eyes to a multitude of different contacts, friends and options that we had never even thought of prior. Steemit in my opinion is the perfect gateway into crypto, especially for someone who knows fairly little about blockchain and crypto, but is keen to throw their hat in the ring and give it a go... Let's face it, at sometime in your crypto history... even after investing... You have all learnt more, about what it is you have actually purchased. 😂
More and more I hear fellow steamians saying, I came for the money, and stayed for the comunity and found that steemit is quite unique for that also. Most social media sites you join, your getting friends you already know, to follow you.
However when coming to Steemit, we began our venture out into the platform looking for stories, people, pictures and eventually through discord began to find plenty of great people who I would otherwise not have met, which was a refreshing change and for that I am grateful.
Recently some of the more seasoned veterans of steemit have been saying this happens when the market goes down, less people posting, less people to like comments and so forth.
But to me that doesn't really make alot of sense. I'm not saying I don't believe them. Just seems odd to me, Sure the market maybe down, but when it goes back up, so will any rewards you have earnt during the slump? Plus less fish in the pond, the better chance to mingle with people who will be around for the long haul!
Unless...
Maybe all these new platforms being launched are actually becoming direct competition to the steemit platform? Don't get me wrong I love the steem blockchain, I think it's innovative and that it will change the future of social media as we know it. It already has. However I only know of the steem blockchain because of the steemit platform. And let's face it... the steemit platform, in my opinion is lacking several things and almost feels like they have developed an amazing infrastructure(great tech knowledge) but then left it with us to take it further(lack in UI and features I.e a decent search engine). I'm not trying to offend, or say that they have done a bad job, just that improvement can be made, as with everything. But this is a faced paced game, and steemit doesn't seem to be keeping up.
If you drop the the ball for too long, the opposition will run with it to the finish line
I mean sure, we have new platforms like busy.org, steemplus and the main one I've been using lately steempeak. But they all operate on the steem block chain. So the price of steem would remain relatively in tact, if they were just using their front ends.
However for new comers, won't this become a point of confusion? With so many new platforms which do they sign up for... For us it won't matter, it will still drive the price of steem up. But with so many new choices beginning to roll in, will "We Steemians" be better off spreading the word of many, or uniting together to promote one individual platform on the steem blockchain.
Options are great, but even at the bar, we don't list every cocktail on our menu, or the customer would spend more time reading the menu than buying drinks.
Or, are people already jumping over and investing in rival blockchains like Whaleshares, Minds or Scorum... I'm not entirely sure, personally I plan on checking them out myself, I'm already on a few. I think you'd be silly not to have a look at the others, and if I do like what they have to offer I will consider investing also.
But does that mean I will start to power down and pull my money from steemit? Absolutely not!
If I do like another platform I may invest in it Aswell, but I still believe the steem blockchain has so much to offer. It has already given so much and I think it will continue to do so as "We the users" find new and innovative concepts to expand the the amount of things the blockchain can be usd for. The lucksacks poker league and more recently... Steem Monsters would certainly have to be some that stand out to me.... Any other goodies I have failed to mention, or may not be aware of?
If you've made it this far your doing pretty well, or your bored shitless... As I said I'm new to all this, so this is just me rambling. It's not me giving you advise, just my thoughts and opinions at this point in time, put out there for anyone who wanted to read comment or debate them.
Now you know my plans for my future with steemit and more importantly steem.... I would love to hear yours.
P. S. I am currently powering down, but not to withdraw... I owe my wife money for steem monster packs I bought a while ago, that's it... No. Big conspiracy, I'm not running off and leaving lol.
Don't let the slump get you down, find your silver lining.
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Hi @philippekiene, my thoughts are that there is lots going on here that will drive growth and development of steem. Yes steemit is not perfect, but as you say there are alternatives. Look at the work being done on front ends like @Steempeak, or new ways of generating activity and growth like @steemhunt as examples, not to mention Steem Monsters.
Competition is inevitable, but the variety of choices currently, combined with what's to come as we lead into SMTs gives Steem a big competitive advantage. If I had money to invest in crypto's at the moment a good chunk of it would be coming here to Steem. Especially at current prices.
Cheers
John.
Posted using Partiko Android
I'm with you on that John, If I had more money I would be investing more into steem at the moment also, sure it may be down... But I think in the long run steem will prosper.
I've only just started using steempeak, but so far I think it is leaps and bounds better than the steemit UI. I did neglect to mention @Steemhunt.... which I believe is also another great project on steem.
Thanks for your input.
What you see when the price goes down is the people who are only here for the money taking a break. These are the people who post when the prices are up and then sell straight away. I don't blame them as they are only interested in the profit but if you are following the larger accounts and the most active individuals you will see that they actually step up there effort as the platform gets a bit quieter. The reason being that the same amount of STEEM is being distributed every day but at the moment there is less competition for the reward pool so everybody who is active will actually be getting a larger share than if the blockchain was busier and more people were utalizing there votes.
As you said, you are actually early to the party. Lots of people have yet to hear about or get involved with crypto and for me steem is one of the most interesting platforms for development.
Part of what makes it interesting is the amount of apps that are being built onto the blockchain. While they can all do different things and have different purposes for this point they will all be linked to the same rewards system and login. If you sign up to any of the new apps going forwards you will be signing up to the steem blockchain itself. (coming soon). So every app that is bringing people to the blockchain and increasing posting will be adding more value to STEEM itself. This site has a lot of flaws and in a while will most likely not be how people interact with the blockchain, instead using a more people friendly version like Partiko or steempeak.
Pay your @steemmonsters debt to me immediately or I will add some of your steemonster cards as interest to add to my own small collection lol. <3
lol, yes ma'am.
competition is a very healthy thing, it will make steemit evolve much faster and may finally lead to the big vested players get their **** together and start supporting innovative solutions.
As for the competition, I hove only ever checked out Lit, and that is a disaster. If you tried a few others, can you tell me which ones you find most promising and what is setting them apart from steem?
Competition is a healthy thing, but have steemit dropped the ball for too long?
They had a massive head start over the competition, but the lack of progress would have spurred on more competition entering the market, as a larger number of developers would see a number gaping holes that their platform could fulfill to out perform steemit.
As well as that, the new platforms entering the market offer you to jump on board from the very early stages, Steem was heavily mined in the begining from what I've been reading, that initial greed may also lead to others wanting to start fresh on a new platform?
As for competition, I wouldn't say Scorum is is a direct competitor, It's similar to steemit, but it is strictly for sport, which gives it a unique twist that none of the other platforms are currently offering. If you haven't checked that out... I highly recommend doing so.
Whaleshares account creation fee drops to almost nothing tomorrow, I plan on buying an account and checking that out also.... But I am still not leaving steem!
I agree that steem distribution is very flawed from the very early stages and this may cause a lot of people moving away. But on technology i think there is a lot of innovation in steem that I am not seeing as much in the new platforms. These often seem to focus more on the interface and so on, which is very important, but that is offset by the network effect where steem clearly wins.
That being said there are a few big flaws in steem and when there is a competitor that solves these that one may be big.
We will see how it goes.
I think Steemit coming first is a significant advantage against any other competitors. Unless the others offer important technical advantages or make great marketing campaigns, they will have much lower user base and market cap compared to Steemit.
I also think the launch of Smart Media Token will increase the advantage that Steemit has over those projects a lot.
I think this is a challenge to everyone. With everything seems to be low, the question is, who sticks around? You will see who still holds to faith and keep on steeming.
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Bored shitless, check. ;)
Most people are here for only the money so it's no surprise activity goes down when the price slumps. I'm here for the money too, but also for the community. I've connected with a lot of people on this platform who I never would have met otherwise. Mostly through poker, but other people too. Just because STINC has dropped the ball doesn't mean we can't still find enjoyment from the platform.
That's kind of what I mean though, we are all here for the money in one way or another, though maybe there is a lot more people here for the quick buck than the long haul. I never actually stopped to think about the people who would be turning steem into fiat on a regular basis, but i guess it's more common than I thought.
The way I have been viewing my future on steem Maybe I'm just living on cloud nine was long term, so fluctuations like this do not bother me at all, this is bound to happen on our journey, there will be ups and downs, just par for the course. like you said @chops316 still plenty of enjoyment to had when times are good, or when times are tough!
If you say you're starting, I think I'm still in diapers in terms of steemit and what the world of cryptocurrencies ... At first I used steemit as financial support and made terrible mistakes (justifiable but terible) even When I have not finished understanding all their tools I keep going up post and thus contribute with my bit, "We are Steemians" I like it
I notice a drastic decrease in the participants in my blogs and also in Steemit in general. I chalk it up to price and people leaving the platform do to its nature of Steemit being hard to succeed on.
I share what you say about depression in steemit publications, sometimes by earning money or by sharing comments on a good topic that satisfies. Do not publish because you do not have followers that see what you write discourages in a way but you never have to give up.
I liked it a lot and with that my life has changed, I have won money and many friends. I liked your publication.