Is It Time For Steem To Start Embracing Investors?steemCreated with Sketch.

in #palnet5 years ago

I once worked for a guy who owned a company that sold and serviced equipment. The guy was pretty successful although he suffered a long term trend downward. His sales peaked in 2008 and he never recovered from the economic collapse. While the industry turned around, he lagged behind.

He had a single problem that, I believe, caused a great deal of his issues. This individual has a visceral hate for salespeople. He thought they were only out for themselves, lazy, and pompous. While a great deal of that is true, he did not realize what he was doing to himself. The simple truth is sales people made his company. Each month, when he had a manager's meeting, he did not discuss how service had a bad month. Instead, it was something about sales being down.

It is an ironic energetic twist when you are dependent upon what you despise. The emotions this guy had to salespeople was evident, especially in the corporate (flagship) office. This was one of the worst under performers in the company.

Why do I bring this up?

Simply because we have a lot of people on here who are doing the exact same thing to this platform.

The problem with a decentralized system is that the message is not controlled. We can say what we want about the centralized entities like Facebook and the censorship taking place, the bottom line is the message they want out there is being promoted. Those who go against it get muted.

Now I am not saying that we are better off with that. I am all for free speech and applaud projects like 3Speak. However, there is a point where we need to act responsibly with that freedom.

So what do we see on Steem? The bashing of the greedy investors. Everyone knows they are after the ROI and many are all too happy to post that. They do not build nor create. Their tactic is to place their holding in an area where their return is maximized. Essentially, they care nothing except for money.

Well yeah, that is what investors do. They speculate and put their money at risk in an effort to get a return. This is what their entire reasoning for getting involved.

Of course, to many Steemians, the ecosystem would be a lot better off without them.

There is just one problem: many of these same people complain about the price of STEEM and how it is dropping. We went from being ranked third at one point to 60something in market cap.

Hence, we have a situation just like the guy I worked for.

People like to come up with creative solutions. We see people screaming for marketing to be done to increase the number of users. Of course, this is a major disconnect. Marketing 101 teaches to identify your market so you know who the consumer is. If everyone is a prospect, nobody is a prospect.

The only challenge with this is users are not investors. We can see this clearly in the numbers.

There was a push for 10k Minnows. According the the latest numbers posted by @arcange, we have 80,000 active Planktons. With the price of STEEM at 40 cents, one can go from zero to Minnow for about $200. Since we are roughly 700 people short of the 10k Minnows, could 1% of the active Planktons afford $200?

I do not find that unreasonable. Yet, here we sit with those same numbers, not really changed since the initiative started.

https://steempeak.com/statistics/@arcange/steem-statistics-20190609-en

For those who are into the esoteric and Law of Attraction, you will know what I am referring too. If you are one outside that belief system, simple common sense will bring you to the same logical end.

Does anyone on here think Mike Novogratz put tens of millions of dollars into Block One to build and create stuff? Of course not. He invested in that for one reason: to get a return on his money. Did that help to fund the development of Voice? Perhaps.

Even if 800 people bought a couple hundred dollars worth of STEEM, that would only be $160k. That is nothing. We do not need people who buying in hundred, or even thousand, dollar increments. This ecosystem needs those buyers who buy in hundred thousand dollar blocks.

That all presupposes that one is focused upon price. If we want people who support the price, that means investors. If we want to look at it from the reverse, what do you think would happen to the price if the bigger accounts decided to dump their holdings?

Many pointed to the pricing pressure put on STEEM by Steemit Inc dumping more than half a million a month to fund their operations. Picture this across 5 or 10 major accounts. What happens to the price of STEEM?

The reality of the situation is that for pricing to move up in a big way, a lot of buying needs to take place. If we want this quickly, it requires deep pockets. The longer term path will see hundreds of thousands of users buying STEEM but this is a slow process.

We are at a crossroads. If we want to focus upon price, which many do, then it is time to stop blasting investors at every turn. These people are needed to place buy orders. And it is true, they are looking for a ROI on their money, we cannot get away from that.

If, on the other hand, you want an ecosystem where the users are investors, then put on the patience hat and dig in for the long term.


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I think I might fall under that investor category. It quickly became clear to me that there was no way I could earn my way into Minnow status or higher in a reasonable amount of time starting from zero. Even now, I do not have the number of followers necessary to capture enough curation to make any significant gains. I've had to put my own money into growing my Steem Power.

With my posts, votes, and comments worth more now as a Minnow, I still don't see how I can get to Dolphin status without making this my job. So, I've resorted to leasing my Steem Power instead. I'm lucky to get anywhere from four to six upvotes on any post, mostly paying $0.00 at 100%.

I get the sense that the content creators here are very insular. They tend to stay within defined circles and vote on those. I'm a bit more promiscuous with my votes and liberal with my following of others. With 50,000 active users, it's surprising that the same handful of people upvote most of my work.

To be fair, I often read that it takes about three years for your account to get anywhere. Having started in September, perhaps I expect too much.

On the other hand, if one gets paid to vote, shouldn't we all be zeroing out our voting power daily? Shouldn't we be posting Instagram-like posts and making lame comments? Shouldn't we be following everybody and their sister to ensure we get a larger number of posts to curate?

There is something odd about the high regard Steem users have about the value of their votes and content. More than anything, I think it's off-putting and is largely responsible for the malaise of the network. This vote celibacy or vote fidelity isn't helping anybody.

Crypto winter truly took out most people here. Only if you could have seen what it was back in january. There were so many let's players and anarchist philosophists but they all left. Gaming was one of the biggest tags in Dtube.

In business, when times are rough you should increase your advertising. Most businesses, however, cut back.

Similarly, crypto winter requires doubling down. Go against the crowd. Buy when everyone is selling. It’s one thing to know it. Quite another to have the discipline to do it.

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I would agree, there is a high regard for the idea of "quality" content on here when, looking at the Internet, most of it is not quality. Yet people balk at the fact that Steem is not taking off. Perhaps if we focused upon what the masses care about and not what a few early adopters, we would be much better off.

As for the investing, I bought a number of batches of STEEM over the past two years and powered them up. That is really the way to grow ones account. Having more SP makes one stand out more...it is really that simple.

We are looking at a move to a 50/50 split on the curation so that might be incentive for people to curate more. We shall see.

I think we first need to have a solid base. Try to help STEEM become what it promised to be.

high regard for the idea of "quality" content on here when, looking at the Internet, most of it is not quality.

Most is not quality, but quality is the most rewarded most of the time in one way or another. That is not the case on STEEM at all. I think that is the problem. While internet has a lot of low quality content, high quality content is rewarded, on STEEM there is as much low quality content but almost all of the top rewarded content is of low quality.

That i think creates an impression on the investor that STEEM is fake. They look at the most rewarded things and instantly think that there is something wrong here.

I could not agree more.

As one of those financially-minded people who is in it for a return, I find crypto-hippies annoying and dangerous.

Crypto will never go mainstream until it is actually used by people as a money. And in order to be a money, it has to have value.

to quote whatsup again

if you have to pay yourself to take care of your own investment... It's not much of an investment

i had utopian thought that people that have a lot of steem, especially those that really invested, are here because they believe in steem's future. gaming the system and extracting max in today is from my point of view not really taking care of your investment.
and maybe i am stupid but i would think that someone that has 500.000 and more steem should have in his best interest to make the steem blockchain better. you would think that steem for 10-50$ should be their goal?
maybe i am just a utopian crypto-hippie.

That's equivalent to betting that the Raptors will score the 101st point with 3:08 left on the clock.

Pure speculation has its place, but it's not anywhere near everything.

Not really sure how good are Raptors in scoring 101st point and in what time (i watch few highlights of Nikola Jokić from time to time, but it has nothing to do with Raptors :D )

for me it looks like buying majority of stocks of a firm and just extracting all the profits and not investing in further business of it.

Crypto-hippies. 😊

*trademark pending

interesting thing is how many of those planktons are selling and how many are powering up. why would a plankton buy steem when they are ignored. for fuck's sake i was in top 200 curators for acc with less than 55 rep last week. so you can conclude how great is for the new acc.

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Just a question:

Who buys all the steem stinc sells?

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I do. Because I believe in the future value of STEEM.

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Indeed a good one 😂😂

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I've got my patience hat on.

I feel your frustration at the lack of Minnows buying even a little more Steem! It would be nice if they put skin in the game as nanzo puts it!

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Dear @taskmaster4450

His sales peaked in 2008 and he never recovered from the economic collapse. While the industry turned around, he lagged behind.

I witnessed few businesses who reached their peaks and then slowly fell into oblivion. Including my owns little online store I've been running for years with a good friend. He did great with customer service and running daily operations, but any changes he considered a threat.

Your friend clearly couldn't figure out that he is facing real problem.

Everyone knows they are after the ROI and many are all too happy to post that. They do not build nor create. Their tactic is to place their holding in an area where their return is maximized. Essentially, they care nothing except for money.

To some certain degree we're on the same page. However many of so called "whales" help to create. They delegate SP to solid curators and this way they are helping create real value.
@mariusfebruary is an excellent example.

The problem is, that majority of current stakeholders seem to focus on building their own wealth.

We are at a crossroads.

Indeed we are. We surely need investors but we also need ways of reducing abuse that may start happening right now. Because new reward system will create huge opportunities for such an abuse.

Already upvoted. Yours,
Piotr

Could you please provide definitions of investor and profiteer? It appears there is no difference between them in your grasp of financial operations.

Is someone who participates in a hostile takeover of a public stock corporation and then forces the sale of it's assets to profit an investor? Is someone who acquires an interest in a public stock corporation and then proceeds to use their equity to improve the underlying value of the stock an investor? There is a fundamental difference between the two MO's, and the code determining how rewards are paid out from inflation attracts the former and repels the latter.

Thanks!

Hi @valued-customer

I wonder why was your comment downvoted by @iflagtrash ...

@berniesanders has a horde of bots he uses to incite pandering to his stake and censor those who refuse. I ain't pandering, so am on his list.

It's kind of cute, his obsession with me. It's flattering, but as nothing I value is harmed by his flags, it's nothing more than confirmation of the value of self-respect. We are only opposed when we are being effective, after all. The enemies of freedom don't waste their resources on opposition that does not harm them.

If you really want to understand why Bernie flags, read his account history. One of the original ninjaminers, he has significant stake and uses it to sensationalize and create visibility for his account by creating drama. He always has, and I suspect he is incapable of doing otherwise. The flagging began when I attempted to prevent flagging of one of his bots, @madcurator, from being flagged by @fulltimegeek. Somehow he twisted up my attempted defense of the manual curation account he funded with an attack on him, perhaps because I failed to pander to his stake in the process.

There is no substitute for doing your own research, and our accounts of publicly auditable.

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