Will Steem Go Viral in 2020?

in steem •  4 months ago

An update on Steem's viability for mainstream adoption. Are we on the path towards virality by 2020? Many hypesters claim we'll hit $10, $20, or even $50 per steem by 2020... in this video, I share my thoughts.

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I'm bullish long term. All cryptos seem pretty risky to me. I think Steem is less risky than most if not all of the others but there is still risk.

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Absolutely agree with you, it is all risky! There are no big rewards without the risk of losing it all..

I like to visit https://steemit.com/created/introduceyourself on a daily basis just to see all the new faces. I honestly think Steemit is the fastest growing blockchain project in the entire space, but for some reason the rest of the crypto space doesn't seem to be aware of this fact.

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There is a lot of bad vibes out in the world regarding Steem. Many see it as a scam... I used to disagree strongly, although with all the vote bots, it is harder to argue these days! At least we are still seeing lots of new people join, that is good...

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Have you looked @Smartsteem? They have a special whitelist and abusers are banned very quickly. I think most bots will go the whitelist route as pressure from the community mounts. The unethical votebots will get crushed eventually.

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Nah. I am in favor of any bots that make an effort to whitelist/blacklist, reggaemuffin does well at this too. But unfortunately I dont think that is enough to fix the fundamental issue, which is the economic incentives. Kevin has a good explanation

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The amount of erroneous assumptions and poor arguments in that article is astounding.

"The second lowest common denominator activity is curation"

Really? Curators, the people who are supposed to do all the filtering and manual labor via reading and responding to the daily deluge of content produced on Steemit, are considered "lowest common denominator?"

I THINK (as you say, there's not a lot of communication) that the management believe steemit has very little to do with the future of steem - that is the concept of being able to earn money posting content. Rather the future lies in SMT initiatives hosted off platform (e.g. the alt tokenisation of steemmonsters) - the value of the SMTs are what is hoped (I believe) will drive up the value of steem.

I say this on the basis of the steem blue paper, which hardly mentions steemit.... this is just a test, don't forget... @exyle's done a couple of videos saying the same thing recently, pretty convincing.

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Exyle is very uninformed to be honest, he simply repeats whatever good news he is told and takes optimistic views. He also uses strawman arguments to say any criticism of steem is dumb.

There is a simple principle at play here. If the economic incentives send an increasingly large amount of steem towards bad actors, over time those bad actors gain more power in the network. Once we reach a critical mass, where the bad actors have the majority of the power, the network cannot be saved.

I don't know when we reach that point. But it is clear we are moving towards it, with a majority of profits being captured by the bidbot operators.

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Fair point - he also gets over-rewarded for his videos.

However, I do still agree with him that the future of steem is largely off steemit, in SMTs... that's the grand plan (or lack of one!)

As to the 'too much steem in the hands of bad actors'... eventually they'll powerdown once they can find something else to go shaft, and maybe things will pick up once they've done that?

The future is probably boom-bust cycles, that's capitalism after all!

I think the team do plan for the long term, but they are not great communicators. As a user it's not much of a risk as anyone can make something and if you can build a good following then it could be a nice amount. If you are looking to invest then it's riskier. I'm hoping we will see a big upgrade in the next 2 or 3 months that will allow it to scale up. I've no idea what the price will do, but I want to see millions here playing with it.

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They plan for business stuff and SMTs but they don't acknowledge vote bot problems as far as I know. If the vote bots' influence is not handled SOON, steem is absolutely doomed. I won't leave anytime soon but it does seem like time is running out to fix these problems....

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I'm not sure the bots are that damaging. They distort the trending page, but lots of us earn something without them. If we can turn enough people against them then they will become less viable.

This is a some more honest view on steem/steemit you are presenting here. Well, Steem as it is now, is nearly just a ponzi scheme. Look through the trending page. Look where the rewards go. You call it short term, I call it ponzi as of now. Good things are all on their way down at the moment, just as SBD and Steem themselves. I can be wrong, but this has to proove me wrong. We are both making music here, so it is not all invain if it goes to zero:) It is not all about ROI but the most big players here have nothing else on their mind. Not sustainable.

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Well if you truly think it is a ponzi, that is something to be troubled by. Definitely not good. As for me I agree there are concerns but I don't want to overreact. In another 6 months it will probably be either much better or much worse... and if it gets too extreme I guess I would stop posting, it's hard to imagine walking away from it all though! I hope it gets better. I do love the good things about Steem.

Maybe when ONO launches, having another option will help to incentivize the best behavior...

Hey I buy when it's down, not much cause I'm poor.......😅.....but I do buy in a little. My page don't get much traction but I do get a little for the work I put in. I agree with you on that, Steemit is definitely still iffy but it has so much potential.

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If you're poor then careful not to buy too much. As a fellow poor person I think its safer to just earn steems, not invest, at least not until I pay off my debts.

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I am.... I also trade stocks for the past 20 years so I know about control.

I fully agree and I’m truly hoping we see a rise soon. Funny how the second the price is down everyone disappears

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Well none of my concerns are related to the price really, the price could be exactly the same and I could be excited if it felt like vote bots weren't taking over the platform, and if it felt like good behavior was being encouraged. Right now though the worst behavior is being incentivized, and no bull market can fix that. In fact higher prices might be the worst possible thing right now imo