RE: The Death of Steemit or Any Crypto Social Media Platform – Are We Killing Our Golden Goose with an Unbalanced Ecosystem?
I've read this through twice now and I have to admit, there are so many analogies in the post I maybe have missed a lot your points. Your main point seems to be there is a lack of business on the STEEM platform. There are business models on the platform. If you are in doubt of that maybe talk to the Steem Business Alliance which requires a business model for membership.
Also, Steemit is not the platform. It's a frontend or the blockchain development firm depending on how you are using the term. Steem is the platform/ecosystem.
Unless a person is powering down and cashing out their Steem constantly, they are stakeholders. We are stakeholders, all of us, it's just a question of how much stake we have.
Witnesses are not all whales or large stakeholders. Some of them are.
Sorry, I'm not trying to be critical but if you want to do an analysis, the terms of reference and understanding are important.
Hey taking the time to read through twice.
Yes I a know Steemit is a front end, that is why my title and intro picture was STEEM, not Steemit.
To me, Steemit is the first platfoem supporting steem and its build up. The plantation is the steem.
The compiled knowledge base Is Steemit.
My concern is not the Steemit business department.
But I am pointing out that we are missing the business sector to keep steem blockchain alive and steem valuable for the long term.
Steemit is just the first phase, where witnesses are supporting the blockchain content creators' content and interaction with all the ledger created.
But this is just one part of the ecosystem. As stake holders kept holding and content creators keep writing, there is no healthy input of outside fiat source to make STEEM / SBD valuable, because it is not expanding fast enough.
So in summary, we are generating a lot of crypto that eventually is not circulating healthily because even for all of us who needs to pay bills and feed ourselves, the limitation of steem is now either sell it back to steem blockchain users (social media or gaming) or trade it off in trading for a stronger crypto to hodl or fiat to put food on the table.
I am not say what we have is not good, but we are missing the mass adoption to make steem like BTC, where when it was first introduced, it already targeted commercial sector.
(to understand more what I am saying you can read my previous article) 🙂
Imagine if steem value actually holds something to someone else in the real world sector (not in trading) and steem is beginning to be used beyond the context of gaming and social media platform and it monetary value rises, the witnesses should have no problem happily sustaining this backbone (blockchain) because they can pay the bills with what they are doing now.