You are viewing a single comment's thread from:
RE: STEEM CAN DROP BACK TO 0.0001 BTC IN THE FOLLOWING MONTHS - HERE'S WHY
Maybe being around STEEMIT too long makes us lose sight of where we are in the big picture. We recently crossed 250k users and the word is spreading quickly on other social media platforms. There is no doubt the number of users will soon explode upwards bringing with it a ton of new investment money. Not saying you are wrong that it is POSSIBLE it may fade down a bit more, especially with a strong BTC rally, but overall I say STEEM is still massively undervalued here and on its way to $10 by the end of the year. But I do appreciate your analysis and alternative point of view! thanks
Steemit is running out of STEEM to delegate to new users so new users sooner or later are going to have to pay for their own accounts which will stop the sudden increase in the number of new accounts not to mention that many of the new accounts are being created by spammers. The other day, we found a voting trail that was upvoting nonsensical comments and posts with ~3500 accounts. I would like to see steemit spending the money on development rather than buying new users which has essentially led to abusive behaviors and is only going to get worse if they continue on with the current system. But as far as I know, they are running out of STEEM for new users so sooner or later, they're going to stop offering free accounts. It's not always about numbers or quantity, sometimes it's about quality and organic growth and that's true specifically with STEEM.
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.