RE: This Is What Manipulation Looks Like
I think you bring up some great points. I find the timing of the crypto boom to be very inconvenient in the sense that many people first getting into crypto's first experience was alot of bullshit scam ICO's, buying at the high and seeing their coins lose 70% to 90% value potentially, etc.
Now I think part of the reason for the boom was new people getting in but at the same time you have a lot of people who's first experience of crypto left a bad taste in their mouth and who may not be wanting to give it a second chance.
I think it will be very interesting to see.
I heard a theory the other day, unrelated to crypto but relevant, that stated something like for a new technology to bring people over it has to be 10x better than the previous or its not enough to make people change their behavior.
Part of me wonders what could crypto offer that's 10x better than credit cards, Paypal, Venmo, Stripe, etc?
Steemit seems to check the 10x better box, I think being able to earn and not having some corporation telling me the type of content I can create qualifies as 10x better but Steemit doesn't seems to be getting less popular more so than more popular
Yeah it did sour some opinions on crypto, but only on those looking to make a quick buck. For those that come from a long term perspective instead of a trading perspective, this is an opportunity of a lifetime.
I'm hoping you are right and think you're right about STEEMIT, but STEEMIT was not isolated from those same people mentioned above losing interest in crypto. New sign-ups are slowing and participation is lagging as well. If it holds til' people's interest picks up again it will get around very well! Fingers crossed. Sounds like we'll be here either way! ;)
I hear a lot of people complain about people who are in for a quick buck or people who are here for the technology vs those looking to make money. Don't get me wrong, I get that argument, especially in the crypto community where so many early adopters are legitimately excited about the technology and many of whom are actually part of the industry.
That said it's like knocking people who invest in the stock market saying your just doing this as an investment, your really not passionate about the companies your buying. You bought Amazon and you don't know everything about this amazing new warehouse technology they have.
The truth of the matter is that the vast majority of people are here to make money, not because they love the technology or want to change the world. I come at it from kinda both sides, as a "high risk" merchant who struggles getting payment processing I love the idea of getting middle men out of finance. As a libertarian I love that spect of it as well but as a normal dude, fuck yeah I wanna make some money and I don't wanna wait 10 years to do it.
I love Steemit and I'm hopeful for the future of it but I know @brianphobos recently made a post about two new blogging platfomrs or social platforms. While it is a challenge to setup this type of site I gurantee other people will come trying to do something similar and steal some of Steemits userbase and if Steemit can't get its shit together it may lose the crown as being the most used crypto or the crypto with the most active community. I don't mean most used as in most popular or most held obviously were sitting at like 36 or 38 here but I mean even though a shitload of people own Bitcoin few people actually use it, same could be said of most cryptos out there. Steemit everyone on this platform actually uses the platform and the currency in some form or another, they aren't for the most part just sitting on it speculating like with other cryptos
Oh I'm for sure in it for the $ as well. The difference was only those trying to make a QUICK buck. I have the opportunity right now to invest money I can afford to lose. In the debt n' death society we live under many just bought up w/e was cool and when it didn't go well, a few days/weeks/months later, they panic sold and worked on recovering from there. I am very long term focused person in general. This is how investors in the stock market make money, not by trading but by studying and being patient. The part that I need to work on is knowing when to sell out on bad investments. I'm still holding all of my ICO investments and have lost heaps of money on those and still refuse to sell. Mostly because they aren't worth much ATM anyway lol.
There are tons of social media sites springing up just like "decentralized exchanges" lately, not that any of these other one's won't work out, but the chances are so slim at this point. At least STEEMIT has a firm base, as far as community, and is a very recognizable brand.
Not that I have tons of money but I have "0" debt and waiting 10 years for me is actually the plan. I'm not sure most "hodl'ers" have this advantage, or are just plain in denial at this point. But I understand the perspective as much if not more than your average hodler. ;)