Getting Ready For Steem 1.0...And The End Of Beta
So what does the future of Steem look like from the perspective of a guy who's been here for 2 years? What do I see brewing in the underbelly that will change the way you and I will interact with the Steem blockchain?
2 Years and still in beta...
Lots of water under the bridge and yet, we are still in beta. One side of me feels discouraged that Steem hasn't made as much headway as we would have imagined two years ago. By now, I imagined that we would have communities and a better way to organize ourselves than tags...or a way to chat directly on the website itself.
But like I said in my previous article, running an incentivized social media blockchain is very tricky and Steem had to solve the scaling issue in order to be poised for growth. That meant sacrificing development in order areas.
Dont' get me wrong, incredible things happened too! The amount of devs and projects that are actually useful is through the roof! Steemit.com is ranked among the top 1500 most traffic website in the world and d.tube among the top 10,000. That's a great achievement and to be honest, even with all of its flaws, the Steem blockchain remains the #1 most used blockchain in the world! (with over 40% of all blockchain transactions every single day - source here)
The Future Looks Good...But Maybe Not For Me
If Steemit Inc can deliver on their one-person-one-vote oracle system that doesn't get corrupted by people creating millions of accounts, the game will change radically. If it works, I believe that this is a core Steem 1.0 feature (along with communities and SMTs).
From there, the Steem experience will resemble what most people expect from social media. What I mean by that is that the most popular and trendy content will make it to the top rather than the one with the most stake-weighted votes.
The stake weighted voting is what keeps many big names out of the game because there isn't a direct correlation between the number of followers and $$$. But when this change, watch out. People with millions of fans & subscribers on youtube, facebook, twitter, instagram will migrate to one of Steem apps in order to monetize their users and THEY WILL dominate the game.
As a CONTENT CREATOR on Steem, it's almost the end of my run...unless I go full-time professional content creator.
But, the INVESTOR side of me would definitely win big time. Steem would become the #1 way for content creator to monetize their audience. Steepshot, would be bigger than Steemit.com is today just with the cheer amount of instagramers migrating....d.tube would eat Youtube's lunch, etc.
The value of Steem, the value of all SMT's, the amount of ICOs of people launching their own apps will burst through the seam and we will be looking at a situation where Steem is where it is supposed to be...among the top 5 crypto by marketcap with a price per Steem above the $100 mark.
Getting Ready For The Future
If you want to make some serious dough in the future as a Content Creator on the steem blockchain, start building your social media presence. That means finding a niche, buying a nice mic and camera and start posting your content across ALL platforms (Youtube, FB, Twitter, Instagram). Build an audience that you will be able to migrate here down the road.
This is a very tough game...your content needs to be more social, entertaining or informative than millions of other people competing for attention...but the rewards will be great for those who plow the field and plant the seeds.
If that's not you, you might want to consider buying as much STEEM as you can right now while it's on discount. Of course, this is not financial advice and I'm just stating my opinion.
Conclusion
I would like your thoughts on this. Let me know what you think, please consider sharing this article on Reddit, Twitter or Facebook and let's get the people engaged in that discussion.
Photo by freestocks.org on Unsplash
So from what I understand, the trending page will eventually become filled with actually trending posts (meaning people actually viewing it, not botted up). But you mention how that might not be good for you, but financially speaking.. Since you have so much SP you'd still be fine (if price of Steem rises), just maybe not as "popular" on the site anymore, right?
exactly. The top earners will change to be the one who actually are the most popular...rather than the one with the most friends with high SP. :-)
@cryptoctopus
for real?
would the bidbots have the same effect or totally not?
Agreed. Would be great for minnows
Hmm.. I may sound dumb.. But what will SP do in that case? Are the financial rewards going to be based off of number of likes or SP? or a mix of both?
SP is vested Steem and it's primarly there to calculate bandwidth on the system. IF you want to run an SMT you will need SP to run it. Steem will gain a lot fo value from it since it will be the only pair on the network to trade all of those SMTs. SteemPower will still work to distribute STEEM like it does right now (but not other SMTs)...if that make sense.
Pardon My ignorance, but what is SMT?
Smart Media Token. You will find the explanation in SteemWiki.
I was thinking exactly the same thing
I think they arent going to get rid of the stake based voting system all together but rather add another payout option. I think i read that you will have a choice of offering an upvote based on your SP or 1vote/1account option... I might be wrong but i think i read that somewhere.
What if they decided to not include the posts that are voted by bots in trending page? I think it would be sound more "trending" when no bots are involved.
I really would like that to happen. Because most of us get discouraged as our hardwork doesn't yield. But if what you say really happens, then it will change the way of Steemit forever.
Estoy totalmente de acuerdo contigo amigo @aweber si sube el precio del STEEM, esta página pasaría de su fase BETA a Steemit 1.0, perdería o ganaría con esta posible nueva fase? me gustaría saber la opinión de @cryptoctopuses realmente interesante y además nos genera mucha expectativa.
A propósito, saludos a todos!
I totally agree with you friend @aweber if you raise the price of STEEM, this page will go from its BETA phase to Steemit 1.0, would it lose or win this possible new phase? I would like to know the opinion of @cryptoctopuses really interesting and also generates a lot of expectation.
By the way, greetings to all!
Well, I think that the One person one vote system would change the game as you said. In my opinion in a more fair way. A motivation to dive into this realm knowing that you have to be better than other creators. It's like in sport.
But with the current system often it doesn't matter if you are a good content creator because it's hard to get noticed.
What I want to add is that I believe that the SMT starting with Appics will give the STEEM Blockchain an enormous boost.
For me, this SMT will have a better starting point compared to steepshot.
Haha Appics blocked real support in their Telegram channel. Look into it. They blocked multiple that gave real feedback and spent hours providing value. They only responded to yes men feedback that wasn't asking any real questions so they could have their ICO launch run smooth. They are driven by money and greed above community. They have no clue what they are doing. They are also very elitist.
I should also say that 1 guy from Appics Team reached out at least in the end. Which showed high moral standards from him and I appreciate that. The way I have understood it is Appics will use their own system outside SMT pretty sure I seen that.
Oh this is not good to hear.
Are you sure that they ignored your questions on purpose?
I could be that all the work is too much to handle for the team but i cant imagine that they have bad intention. I also spoke with admins their. They distributed this week the purchased ERC20 tokens. Which is a good sign. They told me that they are just waiting for the finish SMT protocol.
What I heard is that they will definitely use SMTs... Heck, they were closely involved in the SMT programming process... as first project...
I am agreed with you!!
Until reading this I was a fan of 1 vote per person. But you are right, that could have A big disadvantage if famous people subscribe for Steemit.
For you it seems to be quite alright, with already having 500+ upvotes. That could work for just a few months.
I just see were it goes from here. My feeling still says it might end up terrible. Either because Steemit can't solve their major issues. Or because a competitor beats the crap out of them.
Not sure to understand how a brand new competitor can catch up to steem easily. When they are 2 years of experience ahead , solved the scaling issues, etc.
I was making the comment for the current established authors like me @exyle and @donkeypong for example. For the minnows and upcoming author it might actually be a boon. Regardless, we can't escape the 80/20 rules. There will never be a time where distribution will be done "equally". It just means that the top end will be populated by people with huge audience rather than those with friends with a lot of SP.
Nailed it!
Pareto's Law is a reality in every system in the universe; "There will never be a time where distribution will be done 'equally.'"
So long as Steemians keep their expectations in check, keep putting out quality content to grow their following, and continue to power-up their Steem, the way it all shakes out will be in their favour, regardless of the end game.
what is that video about?
The song is "Something Good", as in these potential changes could be extremely positive for Steemit.
Though I do share concerns that once big social media personalities start using or moving to Steemit, most of us smaller or casual authors are going to get squeezed out.
Thanks @retro-room!
That's correct, you nailed the meaning of my intent 👍 🤝
I love that song BTW. Especially that 2008 remix.
I think a brand new competitor especially has a chance of they are under the wings of a big company. Which provides them both money and knowledge. This could also be A steemit whale with a few millions USD.
Otherwise it will be indeed really difficult to catch up with Steemit.
How could it help people like me? I still think I will basically earn close to nothing.
Do you have any info about the current reward distribution? At this moment my feeling says it's more like 80/2 instead of 20. If you look at the amount of Steem people have its actually like 80/0.2. That's at least what I concluded from arcange his data. But that data did not say anything about the reward distribution. Do you know any data about that?
I like this idea to be so it is possible for people who have good content but who are not highly voted, due to small friends with high SP.
Yeah, it is really discouraged, "2 Years and still in beta" and we still don't have the roadmap. At least tell us when we will have Steem 1.0.
i agree fake accounts are a problem and might be hard to deal with and again the vote will be prejudiced and manipulated the other ways including collusion but taking away power from those who have chosen to invest in Steem i think is just WRONG taking away our freedom of choice borders on Communism but hey that's just my opinion... they could add a good content reward incentive but who would pay for it?
and just another note FB,Twitter,Reddit have more bots than Mr Christie has cookies so they are not the answer they are what these guys have been practicing with. We have to keep em out that's what the task should focus on.
Well my stand on the one person one vote oracle system is still not quite solid. It will be a great move eliminating the issues of the trashy trending page, not abuse and the quality content creators getting nothing.
But on the other hand, how will abuse be prevented via this system? I believe it would create floor for a different kind of abuse just as you said - users with multiple accounts, curation trails, communities with tons of users and all that. I suppose though if this change is going to come, then plans would be put in place already to curb all this.
Well it's been two long years, only 5 months for me though but my faith has grown in the platform. There are quite some things that need to be fixed though and I suppose staying just a bit longer in beta wouldn't hurt anyone. At least just long enough to get the oracle system running and tested.
The oracle need to be rock solid in order to prevent sybil attacks. That is the very reason why it's been stakeweighted since the beginning. We can't have a 1 person 1 vote situation with a foolproof verification service. If they can deliver on that, I only see upside.
Well that would be perfect then. The trend will move from getting steempower or getting whale friends to creating quality engaging content and getting loyal followers. Just as it's meant to be.
Would be just what Steemit needs to break global publicity and frustrated users are definitely gonna come back. Even better, spammers would suffocated and annihilated.
Back to the first point though; do you think the oracle system will come before the launch of Steem 1.0 or will it be incorporated with the launch?
Curious if you ever can create a system that is about the content. Isn't it just a time before a bot can write like a human. I think it's more about trust and relationships then the content can be whatever.
Exactly! I was just thinking the same thing a couple days ago. It's a popularity contest not a writing contest. It will always involve money in every aspect you can imagine. It's all about quality relationships and consistent quality communications. No voting system will change this.
That would be a question for @ned :-)
Yeah, I mean there are already people that control hundreds or thousands of accounts, I wonder how they will be able to sort that out.
I wish they'd get rid of the "GIF" box out of the reply space. It's hard to type replies when the "GIF" button is hovering over the text you're typing!
Well I have been on steemit since 3 months and I think the future is absolutely brilliant. As we know Steem is a brilliant innovation wherein social-media users are rewarded with STEEM tokens for actively participating in Steemit . Liking, Commenting and Writing quality content apparently earns you steem dollars.
Given how the world needs quality information from as many verifiable sources as possible and social media sites are trending towards enforcing quality, there’s no doubt that steemit will grow popular over the years.
However, people quitting their jobs for the sake of generating quality content on the internet is still a bit far-fetched. STEEM is bound to take off once this starts happening.
I agree with you steepshot and dtube has an upper edge over all of the other ones as they are based on steem.
DTube is the core leader in providing quality to the Blockchain. No more click bait culture of content.
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Steemit has become a game. It is a bot game. The whales are getting bigger and in total control. The meetups are all about meeting people who can upvote each other posts. It is definitely not about quality content. I have tried it all and nothing makes a difference. I made money beginning of year. Now I am powering down and looking for other sites. Steemit is dying. It is a shame.