Yes, with steem only being valued around $80 million or so, there isn't a ton here... I mean Tron is close to $2 billion, that is a long ways apart... Not that we have a say at this point, but I think this partnership may end up being what saves steem, or kills it depending on which way they go. :)
Well just about everything was headed in the wrong direction. From price, to ranking on coinmarketcap, to number of exchange listings, to user numbers on steem, to website rankings, to financial resources etc etc etc.
Lots of things were pointing to a slow death.
Yes we had major development coming in communities and SMTs, but without enough financial backing it was always going to be that much harder to make them a success, not impossible, but difficult.
As a very optimistic developer I see this place as more of a gold mine. Unfortunately no one knows what they are doing. The pickaxe hasn't been invented yet and everyone is clawing at the veins with plastic spoons.
Developers don't quite understand yet the recipes that make for amazing distributed programs. Everyone is stuck trying to jam a square peg (the legacy economy) into the round hole of this cooperative space.
It could be, though the code is open sourced and anyone with money and a plan could do this on their own... that is if they had the desire to. Steem needs to do something before someone else does... you don't get these opportunities forever in the business world, even if you had the better mouse trap first.
This isn't the business world. That is the entire crux of this problem: Projection of a competitive business environment onto this arena.
Before crypto, it was really really easy to build value by selflessly putting time and energy into creating open source products. Often, the creators of said value had no way of capturing any value for themselves.
With crypto, the system we have now automatically captures value because the coins gain value. Selfless open source programmers can generate value without having to capture it and they're still guaranteed to make money because they have stake in the network.
There are also a bunch of other things like being able to subvert regulations (like gambling/banking)... the point is that the vast majority of value in these platforms is the quantity and quality of the community members in them. We actually can afford to not be innovative and just copy other chains and be just fine in the long run... However unidealistic that scenario is.
Yes, with steem only being valued around $80 million or so, there isn't a ton here... I mean Tron is close to $2 billion, that is a long ways apart... Not that we have a say at this point, but I think this partnership may end up being what saves steem, or kills it depending on which way they go. :)
Did Steem need saving?
I thought we were doin alright.
Well just about everything was headed in the wrong direction. From price, to ranking on coinmarketcap, to number of exchange listings, to user numbers on steem, to website rankings, to financial resources etc etc etc.
Lots of things were pointing to a slow death.
Yes we had major development coming in communities and SMTs, but without enough financial backing it was always going to be that much harder to make them a success, not impossible, but difficult.
This may greatly increase those odds of success.
Spot on.
As a very optimistic developer I see this place as more of a gold mine. Unfortunately no one knows what they are doing. The pickaxe hasn't been invented yet and everyone is clawing at the veins with plastic spoons.
Developers don't quite understand yet the recipes that make for amazing distributed programs. Everyone is stuck trying to jam a square peg (the legacy economy) into the round hole of this cooperative space.
It could be, though the code is open sourced and anyone with money and a plan could do this on their own... that is if they had the desire to. Steem needs to do something before someone else does... you don't get these opportunities forever in the business world, even if you had the better mouse trap first.
This isn't the business world. That is the entire crux of this problem: Projection of a competitive business environment onto this arena.
Before crypto, it was really really easy to build value by selflessly putting time and energy into creating open source products. Often, the creators of said value had no way of capturing any value for themselves.
With crypto, the system we have now automatically captures value because the coins gain value. Selfless open source programmers can generate value without having to capture it and they're still guaranteed to make money because they have stake in the network.
There are also a bunch of other things like being able to subvert regulations (like gambling/banking)... the point is that the vast majority of value in these platforms is the quantity and quality of the community members in them. We actually can afford to not be innovative and just copy other chains and be just fine in the long run... However unidealistic that scenario is.