Calling all Steem GEEKS. I need some answers please.
I'm having two Steemit problems. I would be grateful if you would chime in and help.
- I am being approached by people trying to discredit Steemit. They are using the fact that Steem has dropped to between 0.13 and 0.10. I can tell the critics are turned off when I answer. I think I'm taking too long and saying things they don't understand.
I am usually good at making complexities simple to understand. I can't find a simple answer for this one. Is there a way to explain the reason in only one paragraph? A "Steem For Dummies" answer?
- A fan emailed today wondering why my Steemit blog has become less popular. I replied, "What makes you think that?"
She answered, "You started out making $5,000 for one post and now you are making less than $50.00."
Two hours later, I received a second email asking the same thing. I have personally read all my fan mail for eleven years. It keeps me in touch. I take notice when one person emails and raise my eyebrows when two or more email the same thing.
Is false correlation devaluing my brand? (A commenter used the term, "false correlation." I loved the term so much, I edited it in. Thanks @dgiors.)
If the answer is yes, how can I fix this? Should I post a short article with a title that explains why I am being paid less?
Sorry. I had four questions.
Big love to everyone. I hope your coffee is hot this morning. If you don't drink coffee, I hope your weed is sticky.
Peace and Love,
Barry
I posted this for the comments but if you want to UPVOTE it, then rock-and-roll and thanks.
Photo credit: [email protected]
For the first question I think it's a matter of too much Steem being produced daily.
The system is adding more than 1 million Steem tokens every day. 90% of which is in the form of Steempower. So it's not all liquid but anybody following the markets can see that there are 201 million Steem in existence. Whether or not they're all liquid might not be apparent or matter to the average trader.
The great news is that the issuance of new Steem isn't written in stone. See this post by @fyrstikken for one example of proposed changes to the system.
The TLDR version you can tell other people is: Steem isn't growing in popularity at a pace matching the issuance of new tokens. That hurts the price despite the innovative technology it represents. There's promise in recovering the price with a vastly expanded user base or a reduction of Steem inflation.
Also worthy of note is that rewarding authors and curators is a novel idea which won't ever go away even if the champion of the idea isn't Steem in the future. Steem could be the MySpace to some upcoming platform that "drinks it's milkshake!"
Edit: Proofing my writing I think that comment comes off like I'm not hopeful about Steem's future. The technology is very ahead of the competition. I'm bullish but anything can happen.
The second question
Yes it could hurt your brand through false correlation. You may be right to explain in a post that the correlation is the post value to the Steem value. If you want to measure your popularity number of upvotes per post is more relevant.
Would be a great asset if you or anybody wrote a piece explaining that nuance for the folks out there.
Peace.
^ Yes, that :)
Here is an article that should help explain the price situation:
https://steemit.com/technical-analysis/@timcliff/historical-mvest-to-usd-price-chart-steem-power-has-not-lost-value-over-the-long-term
You were overvalued to begin with.
You should watch berwicks last anarchast interview with Dan. Several people have said something along these lines: the market cap grew a bit too fast, making the company basically too overvalued. When you see a huge spike like that, you generally see it come down. Now the market cap is much more reasonable around 20 million. I think it will go back up as the platform grows and becomes worth billions. Im powering everything up right now for that reason.
Regarding the popularity, I think the main thing that people need to understand is that we are still in beta. The site is missing some key features that mainstream users expect to be there on a social media platform. Also, there are still some kinks to work out as far as "fairness" and influence/reward distribution. I think the people that can see past the current issues, and see Steemit for what it will become are the ones that are sticking around.
Once the site gets built out into a full blown social media site with all the bells and whistles, I expect the recruitment and retention problems will solve themselves.
Sometimes the best response is to ignore them.
Well, I'm no Steem Geek. But it seems to be when you have more sellers than buyers the price is going to fall...
It also seems to me there could be an incentive for large Steem holders to "dump" it and drive the price down in order to buy it back at a reduced price later.
This is done all the time on other markets, it even easier here because of the transparency. You can keep an eye on your fellow stock holder and be sure they are still dumping. The more you dump the lower the price.
Then one day, you buy it all back as fast as possible and try and be the first one to do so :)
JP Morgan was good at that....
I think the more pertinent issue here is the lack of censorship and the immutable nature of posting here. Your content isn't subject to review and evaluation based on the nature of your work. Furthermore, it can't be deleted and scrubbed from existence, because it is permanently engraved in the block chain.
Based on what I've gathered from your work, you aren't out for a quick buck. Obviously we all have to put food on the table, but your mission isn't to get rich. It's to protect people, and provide them with the means of defending their rights. Your personal story and the information you provide are compelling and engaging, and I personally believe you should be well compensated...
But I also think that Steem/it has more to offer than financial rewards. It is a platform where freedom of speech is more than a cliche. Its value is far deeper than a quick buck.
So true @timcliff. I mirrored your comment here: https://steemit.com/barrycooper/@barrycooper/activists-content-censorship-is-very-real-and-it-sucks-thank-the-gods-for-steemit-a-life-series-by-barry-cooper-humanitarian
Almost all activists are censored by FB, Google, Youtube and others. Your last paragraph is spot on.
Big love. Glad you are following.
Who are you calling STEEM Geeks?
maybe the ones who have commented here. :)
I suggest @timcliff's post showing how STEEM may have been too overvalued and correcting back towards previous value. From there it may grow again.