is officially out of Beta! Steemit inc. is healthy again.

in exyle •  7 days ago 

IMG_7495.jpg is officially out of Beta!

You can read the post about here.

I think we can start expecting more improvements to in the future for sure.

But even more interesting was the cool interview @andrarchy did with @elipowell about the current state of Steemit Inc.

It's fast and to the point. With no filler talk. Very pro. Here is the link.

What I learned from it:

Steemit Inc. reduced costs for running the blockchain and from 220k USD a month to 37K and is still looking to shave off another 10K in the next months. Aka. They are no longer bleeding money at an epic rate! That's great news.

We will get a Hard fork soon (mid-June) to implement the STEEM.DAO that has been developed by @blocktrades.

The advertisement revenue from Ad-sense alone without putting in any extra work has generated $3,000 a month for them and this is all before going after it properly in the next 6 months.

The next steps for Steemit inc. will be a renewed focus on communities and then SMT's and also upping the advertisement revenue.

Sounds like healthy sane talk to me with a clear vision and plan.

I like the focus on revenue because it gives off an important signal that selling STEEM or relying on the reward pool as a business model is not the way. You need an outside revenue stream. The website generates a lot of eyes so it makes sense to explore advertisement more.

Also bleeding money sucks, it's very demotivating and creates constant worry. So all I can say is, well done there!

I'm also hoping that in the future some of that ad revenue can flow back to content creators that bring a lot of eyes with them. That would maybe convince some big players to make Steem their new home.

I'm looking forward to the STEEM.DAO to and the proposals that it will bring to make this blockchain better or to find out about new ways how to promote it.

From what I gathered we are going to see communities before SMT's which I think is good, especially now that we have Steem-Engine to take over that role for now and when SMT's are done the projects that want to swap over will be able too.

All in all, this feels like new beginnings and it looks good.

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  ·  7 days ago (edited)

Good news! The crypto markets are currently out of the bear and 2020 looks very promising! 😎

I've had this idea, but not sure whether it's crazy or not. What if Steemit became quite profitable with ad revenue and instead of selling Steem, they started burning Steem? Would that be a good way to "give back" to everyone as they'd be positively influencing the price.


Haha, I truly hope they do get to become this profitable!

Great news, no more Beta! That should be good outward facing sign.

Succinct video conversation there from @elipowell and @andrarchy - cheers for sharing. I missed it first time around!

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"from 220k USD a month to 37K" - They went back to the basics of business. To succeed the secret lays on the buying/producing price, not the current market price.

I read the post last night too and it is all very exciting. I am looking forward to seeing what the future has for us. I just wish we could get some more users on board to help things grow a little more. A lot of the development that is going on seems to be kind of superficial and isn't really bringing in the users like we would hope.


I feel you but I'm not worried. A lot of groundwork has been laid. When the markets turn around we are well prepared to handle it. Users can sign up with different payment methods, RC system will make sure the blockchain doesn't get bloated with nonsense transactions. Blockchain is cheap to run. Many good things have happened.


That is great to hear!

This news is important for those who are worried about steem blockchain running and bleeding your money, can now cost minimising and also next month it will be lower 10k for running coost. could better as new experience and advertise will appear. We are hesitate to take new stuff while we are adjusted with old regulation, good luck for the changes!

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Great news!

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Jep this is very good news what come out... and it makes as very strong in long run :) Now I'm very sure in this summer we get back are 1.50 $ . ;)

Communities should be a good thing for steemit

I think it's a very nice thing to Steem. Something positive is happening. Thank you for this information.

Finally, I was beginning to think that either beta was just part of their logo or a sad recognition that there is an alpha leader.
Hope this boosts confidence and foreshadows good thing ahead.



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I know we are on the right track for this blockchain!

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WOW that's GREAT news of cost cutting and new revenue generation for STEEM. 👍👌

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These are all great news and I hope they'll stick to them and not be shifting the target. Once you start shifting targets again people start getting frustrated. Thanks for the update.

  ·  7 days ago (edited)

It's great to see the beta gone, that was something that had become really annoying. Feels like the months of posting every day during the bear market are going to pay off now.


Every positive news is a way forward. It shows that there are still people and companies who keep vesting in the platform and would not abandon it for more profitable projects just because one has come to a bit of a halt.

Hearing this update does put a smile on every steemian face right now : )

I wonder are they going to shave off another 10k$ by cutting even more of their staff. So, in the end, only Ned will be working there.
It doesn't really look too promising right now.

Great progress indeed although still some ways to go to remain sustainable but the direction is positive. If we could compound these improvements with an improving price, it could help for the protocol and community to thrive!

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