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RE: Vlog #94: Steem thoughts (development, investment, users, growth) + Thank you @intelliguy

in #dtube7 years ago

Great vlog! While I watched your video my mind went to a blog written by Luke Stokes today discussing the issue of traders hurting the value of an asset by distorting the true price discovery. I've felt this way for some time regarding Steem. There are some whales who use Steemit as a personal piggy bank. It's their prerogative as they can and should do what they want with their money, but I think they're costing themselves so much more by not letting Steem find it's true market value. By flooding the market with liquid Steem they're artificially suppressing the price. They stand to make much more by holding and letting the price of Steem rise than by constantly powering down.

I also feel Steem is very misunderstood, and a lot of that has to do with how it has been and continues to be marketed. If you go on youtube 9 out of 10 videos will pump Steemit by saying you can earn massive rewards by blogging and then showing the trending page as an example. I feel this is creating unrealistic expectations for new users and is simply setting them up for frustration and failure. When I first discovered Steemit and starting learning about crypto I immediately hit all the forums to learn all I could and Steemit was absolutely taking a beating (and still does) from people who tried the blogging angle and didn't see immediate results and quit. Now they look at it in an unfavorable light. Blogging is one aspect of Steemit, but the real value I believe lies in the Steem currency and it's utility along with the communities just starting to form and it's business dynamics. These qualities inter mingled in a social media platform is completely unique and incredibly powerful. So powerful that any reasonable person would instantly see the limitless possibilities and incredible value. This is the primary reason I feel Steem is so misunderstood. It's marketing doesn't align with Steem inherent strengths. If this can be fixed and Steem gets a face lift so to speak by a re-branding campaign, the sky's the limit. I think this is why it's taking so long in attracting investors, which you so correctly stated is what will really make the price of Steem take off. Right now we're getting new users who are trying to make money from blogging, not new investors putting money into Steem as an investment vehicle. Great topic as always brother and I'll stop here, lol, as I could write quite a lot about this. Helping companies brand and market themselves properly is what I do.

It's always interesting that companies see themselves for what they want to be or think they are, not for what they are and what their customers need or want them to be. Looking in the mirror and being honest is just as hard in the corporate world as it is for humanity. Have a great night man!

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