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RE: STEEM CAN DROP BACK TO 0.0001 BTC IN THE FOLLOWING MONTHS - HERE'S WHY
I was trying to tell a manager at my company today about STEEMIT and he could NOT believe there was no advertising. He was asking how they can afford it and add value without ads? I wonder what the plan is for long term? People won't pay for something if they don't have to. They MIGHT tolerate some ads as proven by FB and YT. Thanks
Technically speaking we do have room for ads here. It's called promoting your post. It acts like deflation as well as the system destroys the money that is spent on promoting a post. But currently, the promoted posts appear under a tab called the "Promoted" tab which almost nobody checks. I know I don't but I also hardly ever check the other tabs. They can definitely change this in the future if need be and cause the promotion feature to become more advertiser-friendly in order to support the platform. Another way of advertising here is of course through buying upvotes or STEEM and powering up which is fairly expensive even now; but basically if the platform becomes popular enough, then the only guaranteed way to get attention here will be to buy STEEM and power up which will create a huge demand for STEEM and will push the price of STEEM up but I don't think this platform is going kick off like this. New users need a lot of reasons to ditch the other platforms and many are simply skeptic and/or too "dumb" per se to learn about a new platform, especially one that is still under development and deals with a huge amount of cryptography.