Is Steemit Growth Great News or Dangerous to the Ecosystem?
Steemit has been growing like a 7 months old twins in their mother stomach pushing hard to come out and start trading on cryptocurrencies (especially elyte.io , steem , eos and SBD) see weekly report by @penguinpablo–this is great news because of the innovative technologies , learning ability and earning potential in steemit platform. Moreover , even though steem ecosystem has and still remain undervalued ,it however , feels great to see increase in value. On the other hand, however, will it be all rosy for the ecosystem? Here are some few points:
More financial gains: I will remiss if I indicate that am not happy for the success of SBD and Steem price which led to more financial gains. In fact this is one of the reasons that led to many new accounts and fuders who came back due to FOMO (fear of missing out).
More Business Opportunities: From delegating steem power to bots to joining an innovative project, steemit is full of new opportunities and contacts which have resulted to successful new businesses due to the talents here and ability to raise money here via steemian upvotes ( crowdfunding) without request for financial rewards and or stakes in your business. Thus making this platform a great business hob.
Community initiative: From color challenge to environmental challenge, from minnow help to photography / artistic challenge , from raising money for people in need to supporting great humanitarian initiatives- steemit is full of different helpful initiatives that will make a bored soul busy on daily basis. This is amazing because you can actually build your contacts and thus make great friends doing so.
However wait a second!!! Is it all rosy here?
In fact, the success of steemit has made way to many scammers and spammers trying to scam innocent people of their hard earned money-see my older post here for example : through sending out phishing links, scam chats and spam comments like follow for follow, vote for vote and other weird spammy comments –in order to get some upvotes. Therefore as you are making your money here, building your contacts and learning new things/ meeting new people, you have to be vigilant and note that not all people here have good intentions.
Do you agree? Send in your comments and resteem for others to join the conversation, upvote to send in your support.
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Well! Realistically...Steemit has become Out n Out Marketplace and Absolutely commercial business for many!!! Yes...many...you name it...Upvotes trading is the foremost...forefront and profitable business, needless to say "We All" do seek help and assistance of Bots from time to time...so there is this flourishing business...besides SP Delegations at a particular cost and period to many... for many... by many...!!!
Whales, Dolphins, Orcas and what not... to quote... are all benefiting substantially with the Steem and SBD price surge!!!
Steemit has become "ADDICTION" for many...(myself included!!!)...which might...or might not be a healthy practice, by virtue of it !!!
People...will come...join Steemit and people will leave Steemit ( for whatever reasons, it may be!!!)...but I really really (eternally!!!) wish Steemit to be a BIG BRAND & BIG SUCCESS !!! for all the selfish reasons !!! :) 😊😊😊😊
Cheers!
Very nice comment dear and I cannot agree more plus it's good to follow the trend and make some thing out of the business steemit offers. Nice comment
Thank you so much!!! @kenhudoy really appreciate that!
Despite being a "beta" Steemit is "Definitely & Progressively" proving itself to be a successful model and we all Steemians expect it to be Out n Out Success! for all involved!
Therefore...simultaneously, there will be issues (good n bad) and practices (ethical & unethical) that will directly Or Indirectly, affect Steemit and all the related processes, to it !
We will have to live with them and address/resolve them, like any other marketplace/community!!! To come out as " ONE-GLOBAL-SUCCESSFUL- STEEMIT COMMUNITY" & most amazingly we have "So Many Talented" here In Our Steemit Community!!!
👍👍👍👍
||BEST||
Couldn't agree more as you laid down all points beautifully. Wish you can find time to garnish my blog posts with your intuitive assertions. 👌
Thank you so much!!! @kenhudoy Truly Obliged !😊
It is such an honour...!!! am just a 😉"Novice"😉, still in the process of Learning, here on Steemit !!!😊
Sure, will visit !!! 👍
Thanks, Kindly!!!
It's quite natural for a market economy to develop where you have free flow of ideas and opportunities without any reasonable restrictions from an authority. And in such a market, all kinds of opportunists and businessmen are bound to take part. Oftentimes it's good for the market participants unless there is fraud taking place. We have to guard against that.
I couldn't agree more !!! @svkrulze
However there is a saying..."NOTHING IS ILLEGAL UNTIL YOU GET CAUGHT" !
Despite the facts, frauds taking place (major/minor), who would really know, as to what is happening where "UNTIL YOU GET CAUGHT" !!!
One can definitely guard...but to a certain extent...there are times when things and situations are absolutely out of your control and you really cannot prevent the "harm/fraud" happening, OR you are utterly unaware of it !!!
Every market has GOOD...BAD...& UGLY of it !!! Its just that what you wanna see and what not ! Therefore even Steemit is No excuse! People will find bugs in the system and exploit the loopholes. Just stay Alert ! Best Possible! 😉
Cheers!👍
Ohhh BTW...how's your broken arm!!! ??? Wish you a speedy recovery and good health!!!😊
Get Well Soon !!!
Thanks for your wishes on my recovery.
I couldn't agree more with you
Welcome! 😊
Much Love!
😊😊😊 very good point buddy, I agree with you
Thanks !!! Charles :), for bringing it up! The credit goes to you!!! literally!
Though, I am, trying to make "Steemit" a "Funplace To Be" for myself...bcoz, if taken way to seriously, I might get "Entangled"...and wont be able to unwind at all !!! Cheers once again!
Much Love!😊
Hahaha you are correct about the ablity to be addicted here...smart blogging is the key...more success to you buddy.
Thanks a ton! Charles!
Pleasure, Indeed!
👍👍👍👍
welcome, always and more success
Steemit is providing lots of opportunities, regardless of whether for building network or developing business. And yea, saw ethereum lyte the other day but didn't read on it. Thanks for sharing on it!
welcome and feel free to join ethereum lyte telegram link and ask of Dev ie Charles1 ...more success to you.
I think that is termed "growing pains".
Yes there will be some drawbacks to a larger ecosystem but I think the benies outweigh the negative.
Spammers and scammers will be drawn to here...heck they already are. The community will need to figure out ways to counteract them. Perhaps a modified downvoting system which will enable people to target those types of activities without sacrificing too much of their power.
The biggest negative from right now is that a rather small number of people, proportionately speaking, are sharing in the reward pool. If you multiply that 10 fold, which could happen this year, then you are looking at smaller returns of SP. Of course, the hope is that is offset by the increase in the price of steem.
Overall, growth is good...STEEM has the ability to impact the world in a major way.
wow my buddy @taskmaster4450 you analysed it very well...thanks for your comment.
Scammers are always going to be there, and as this platform keeps on reinventing itself, so do the scammers.
Also, I don't see straight away how Steemit can help businesses, as there's ''officially'' no advertising. Bloggers and Vloggers could profit and do some endoresement. But it's not made for business to grow I'd say, Steemit is helping us, the people, by providing a platform without ads, without our data being sold. The ideal would be for Steemit and Dtube to grow so big that it has a respectable market share, and so would decrease the numbers of people on Youtube & Facebook.
Very good point raise, thanks...however steemit has been a blessing to many businesses through exposure examples are the ones build on steem ecosystem like Dtube for example.
The natural side-effect of the whole Steem ecosystem is that it will invariably attract malicious people and shitty bots. Thats fine.
Whats not fine are things like dedicated and organised attacks on Steem (especially within Youtube) to attack Steem directly - and what we stand for behind it.
I'm less than a week old in the Steem-bath but i love this place and will protect whats being built.
The past few weeks have been one heck of a ride and I never expected the price to grow so fast especially since I was buying for a dollar and sometimes a little under a dollar just 3 months ago. Seemed like a lot of folks were questioning the viability of it back then, now it's all sunshine and roses (seemingly).
I'm very happy with a lot of things that have happened, but you do pose a valid point that with greater rewards comes more attempts to scam people and game the system.
The same here buddy...price was below 1USD few weeks ago and now the mooning is just starting...lets keep on powering up because better days will surely come 500USD+ then we can drive together to the moon!!!!😊😊😊
I agree that steem is still undervalued and we should do something about it. But then, Steemit itself is quite young so there are still a lot of room for growth. On the other hand scams are everywhere not just on Steemit. It seems this is inevitable though. As Steemit grows more popular, opportunistic people will start flooding the platform. And yeah, Steemit is definitely good for the ecosystem, no doubt about it. Thanks for the great article.
Good point indeed, I agree
I believe the growth is mainly good for established users. New users will find it increasingly difficult to get noticed, and it will take more effort to earn the same amount of Steem, as the reward pool will be split between even more users.
Patience and consistency is the key...read my older posts for tips...success to you.
Well i guess as for now the growth appears to be a little bit dangerous because it was and perhaps not ready for the new development as such it came crashing down.
Good point, however I think its high time for the growth as it cant remain undervalued for long.
Yes we cant remain undervalued and undeveloped forever, the only constant thing in life is change, and steemit is feeling that positive change now
Good point indeed...
The growth to me mean more money to the people, If all community members are contributing positively to system, then the growth is good.
Point