I Must Say Eli And Ned Seem To Have It TogethersteemCreated with Sketch.

in busy •  3 months ago

Steemit Inc has taken a big of a pounding on this platform and rightfully so. They consistently over promised and under delivered. As if this was not bad enough, their communication with the community was completely abysmal. Finally, they were completely tone deaf to the suggestions of the community, opting to ignore everyone else and do what they wanted.

I guess you could say the nadir hit in November when the cement slammed them in the face.

Since that time, the company was hard at work trying to behave differently. Yes, this was most likely out of necessity but the behavior did change. Nevertheless, the community, also rightfully so, is taking a wait and see attitude.

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Yesterday, @elipowell and @ned appears on the State of Steem with @pennsif. This was the second week in a row they showed up (or was it twice in three weeks?). This time, they brought one of the blockchain developers with them.

I must say, it does seem like, at least publicly, they have their act together. Eli is very confident in her answers and appears to have a firm grasp what is going on. Elevated to her new position just a couple of weeks ago, she is obviously still feeling her way through things. At this point, she is getting systems organized in a manner that will allow her to establish some consistency with her actions. This is extremely important.

Here is an example why communications and marketing people are at top of many companies. They understand their customer base, in this case the community. Consistency in communication is rule #1 in marketing. Whatever the tactic, you want people to almost be expecting it. This creates trust.

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As for Ned, he sounds more relaxed. Perhaps he is better suited to be away from the day-to-day decisions and operating from a bit higher perspective. This is not a slight against him: most visionaries are terrible managers. If he is indeed that, perhaps he can spell out his plans and have someone else implement them.

The developer laid things out in a lot of techie talk that went over my head. What I did catch was the fact that his estimates are that RocksDB will reduce the size of the nodes to 4GB to 8 GB. @aggroed said this would save 75% on his present witness node. Considering how many witnesses there are, this is an enormous savings.

Of course, the community is still going to be cautious. A change in attitude is only the beginning. We are still waiting for them to produce what they say they are going to. However, the fact that the communication is much improved is a start. Couple that with the fact the developer (and others) are making progress on the RocksDB after completing Hivemind is optimistic.

The winning back of some goodwill will occur when they release the post telling the community the conversion is completed.

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There was an article that talked about DApps and featured @dapp.com's Kyle Lu. It was discussing DApps and stated how they outpaced the applications bought in the Apple Store the first year it was in operation. According to the article, Apple did $4.2B over 65,000 it;s first year while DApps did $6.7B in 2018.

It is nice to see this although the numbers are skeptical. I was chatting with someone about this and he pointed out that most of the revenue from DApps are gambling and exchanges. He is probably right on that.

All that aside, the great part of this article is the fact that half of it highlighted Steem. There were some very interesting stats thrown out that, if true, could really tell a story.

One of the blockchains with momentum on its side is Steem, whose community has proven to be more loyal than the market cap would suggest. Nearly half, or 44% of Steem “wallet (account) owners are actual dApp users,” according to Dapp.com. This compares to 2% for Ethereum (ouch) and 27% for EOS.

Logic tells me these are correct, especially the Ethereum stat. We all know they have more developers than any chain yet their traffic is limited. In other words, they are building a ton of stuff that few are using.

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As if that wasn't enough, there is this gem to put it in perspective.

Steem has a total of a few dozen dApps across gaming, video sharing, crowdfunding and more. This compares to 2,287 and 159 for Ethereum and EOS, respectively.

Can you imagine what this place will be like if we triple the number of applications on here?

All this shows the staying power of Steem and what makes this blockchain unique at this point. People are using what is being build on here. It is why this community is so strong. We have a vested interest not only as coin holders but, also, users.

Here is the article which also has a great video of @roelandp, the developer of Steem Wallet, which I suggest everyone watch.

https://cryptobriefing.com/dapps-made-more-app-store/

It is always nice to come across some positive coverage as we are marching forward. Steem is on the rise; it is only a matter of time before the rest of the world finds out.


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It could be a while before Steem sees any price movement from this though as most of the market is driven by speculation and hype rather than actual value, but long term this is great news for Steem.

Also, I would be interested in the Dapp valuation I would be interested in how they came to that USD number. Did they take the crypto profits and the USD for the end of each day and add it up or the crypto profits and then the USD price now? I would assume the first way, but without them disclosing we have no way to know unless they did and I just missed it.

Having never met the guy I don't think it's fair to make this statement, but I agree that Ned seems to be more of a dreamer/visionary than a leader/manager. Not saying this as a bad thing, but think the move from his position will be a good thing, fingers crossed.

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The price movement of STEEM is not dependent upon anything that is taking place with development on the blockchain unfortunately. So I agree with you. That area is still relying upon the movement of the market in general and bitcoin in particular.

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It's exciting to think what would happen to the price of Steem once this is taken into account. One of the few chains that is creating lots of real-world value and not just marketing and vaporware.

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Yes, most of the market is driven by hype and speculation, but fundamentals do in fact matter, in spite of what many modern analysts will tell you. If fundamentals didn't matter, Warren Buffet never would have made any money using his investing style (value investing in companies with good fundamentals). Steem is one of those investments in my opinion. It is the investment in the crypto space from a value perspective. Just like the truth seems to find a way to come out, good fundamentals, over time, find a way to show themselves in price movements. Sooner or later this will come to Steem.

Disclaimer: This is just my opinion, and should not be taken as investment advice. I am not an expert on cryptocurrencies or investing in general. Do your own research and make your own decisions. Take your own responsibility.

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Yes I agree, but what fundamentals or value do most cryptos have as of now was my point. I agree one day they will, but currently most even in the top 20 have no way to gather that data which is why its all speculative investing at this point.

One day there will be a way to value invest in crypto and some people do use methods. I heard one guy said that he always invests in the cheapest per coin crypto on coinbase because some newbs will always invest in that coin since they can get the most for their investment.

Yes I agree investing in this market will one day change as you said.

One word as to the future growth of Steem ......@wherein

Believe

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Me too.

The point is to power up Steem and use as many dapps as possible.
With that being sad the community will spread and this will increase the price of Steem.

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The variety of dApps that are being developed for STEEM is amazing. And the way the rewards are interchangeable is one of the keys. You can blog on @esteemapp @busy , @steempeak etc and earn Steem SBD to buy @steemmonster cards and play the game or even sell them on thieir market place and use the STEEM to play @magicdice, record the game and post a tutorial on @Dtube and so much more.
Once Steemians get comfortable using multiple DApps to interact with the STEEM blockchain we are really going to see an increase in adaption, engagement and innovation.

Great collection of things going on surrounding Steem. Boy has this place had a lot go on since i joined Oct 2017. Wow! Thanks for your post @taskmaster4450 Steem on! It's looking to be a great year ahead.

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I was only a couple months ahead of you and yes it changed a great deal @yogajill.

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I only read posts (there was so much to read back then) and commented for three months! Then, i started posting. I was like so fresh into my recovery then. It was likely very good for my brain to do all all the learning about blockchain! Did you get right into your great posts when you started @taskmaster4450? Or did it take a bit for you to get going too?

Thanks for keeping us updated:)
!tipuvote 4 hide

This post has been included in the latest edition of SoS Daily News - a digest of all you need to know about the State of Steem.



Yeah.
And Steemit is still on its beta phase, for how long?
But Steem is on the rise even if Steemit is forever in beta.

By the way, why your vision is 2025?

I just hope to be seeing the best result been shown presently

We need to support Dapps as much as possible even if it is just simply using them. If STEEM became the place where the community has a reputation to adopt new Dapps, then future Dapp developers will want to call STEEM their home to ensure the success of their Dapp concepts.

This is great news. Let's hope the new attitude and commitment is here to stay

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If the folks are interested in getting things right for everyone, they need to do a lot less talking and a lot more learning. Social media has to be a ground level up building experience for each player and executive decision imposition is knot the knew weigh to build a platform.

Trust Frank Bacon and give him the reigns of the public ear - have measurement metrics that are accurate and consistent and make the reward for doing good much much greater than the punishment for doing bad.

Take the revenue stream and divide it based upon the agreements that owners and player have in professional sports - a near 50% split. The top content providers should be paid like superstar athelets and be the focus of your marketing campaign.

Also - pay steempunk radio for advertising the steem name and make sure that participants in that venture are rewarded with steem. Same with d-tube and other affiliated apps - spread the wealth by spreading the joy of knew creation.

I will gift 2 hours of radio airtime to discuss this with anyone who would like to join the Knew Weigh Radio Show Discord forum. Responses to this blog will be met with invitations to the chat - the whole interactive media concept has a scoring system that steem value can be enhanced, but we have to negotiate a fair deal and thus far - i aint seen it yet.

namaste' ... doc

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The fact that Eli has hit the ground running so soon is encouraging for those of us looking forward to seeing the endless possibilities of the ecosystem.

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Good reading on this update and keeping us informed of what’s happening is an important news.

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