Thoughts on STEEM's current status

in steem •  17 days ago
Activity levels have dropped considerably at this point and of course it's understandable. The hardfork last week, the fear that followed it, and the convenient sprouting of other networks, made for a perfect blend for this to become the case, but believe it or not I'm not worried, not in the slightest.



themerkle.com

Have the rewards gone up?


I'm sure you've noticed that your payouts have increased, and this is happening without the price of STEEM going up, almost at all. Well, the truth here is that millions and I do mean millions of spam transactions have been toned down considerably due to the fork.

You may not think that the less than one cent upvote accounts, most of them using Steemit Inc's faucet to create spam farms would add to much, but If memory serves me right, there has been spam farms found that pull thousands of dollars per day from the system. So what do you know? Resource credits do have a positive side after all.

This basically means that real users, the ones that don't comment 500 times a day, or plagiarise silly pictures and trigger botnets to upvote them, actual humans are being compensated more for the value they put in. Regardless of how much more fine tuning the system may need, I think we can at least agree the future is looking good here.

Account claiming craziness


Yes, some accounts got in trouble for claiming thousands of accounts, but the system is actually working the way it should. I think it's important to know the reasoning behind this idea, the way that it's going to help this blockchain grow in ways that we simply could not prior to this implementation.

As we know, getting your account on this blockchain has never been a two clicks and go kind of situation. As a matter of fact, I clearly remember losing some friends to the the long wait and having to help more than one youtuber get his account up and running.

This new system is the fix to that conundrum, and I can't wait to see how dapps will begin to implement this into their systems. I strongly believe that when @dtube and @partiko, get the ball rolling we will see the influx of new users that would make this blockchain flourish.

Competition is out there


Good, that is always a good thing and I don't think any of us should be worried about that. I mean, we can't claim to like the idea of free markets and at the same time expect for an element of free-markets to not be present, competitors.

This is without even mentioning all over again how this is not necesarily something new. But, for the sake of entertaining some of the FUD concerns, let me ask pose some questions.

Did Facebook kill twitter? Did Twitter kill Reddit? Did reddit kill instagram? I think you get the idea. Since we are bound to become a blockchain of dapps, equating STEEM to Steemit is not actually correct, and that distinction seems to be missed by many people who are signaling the end.

Patience


The word of the week, no, that's not right, the word of the month possibly the year. This whole ecosystem has been evolving right before our eyes and it will continue to do so. I actually remember reading an old post by @ned where he spoke about STEEM as the blockchain for dapps and I sat there scratching my head, but now I can totally see that the path forward is such.

If I was a gambling man, I would say we are about to start moving up any second now. Not only STEEM, I'm talking about the whole cryptosphere. It's been bottomed out for a while now, and we just need a good little bump for "hope" to return.

Until then, and even then, I'll keep on Steemin

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Greetings @meno.

No Nutella here?

Thank you for writing about the elephant in the room.....in the halls of Steemit.

Your well written explanation of some of the changes that will benefit Steemians is appreciated.

Free enterprise and capitalism are part of freedom.....thank you for giving them a mention.

All the best to you.

Cheers!

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Hahahha I figured I could implement Nutella on the next one. Cheers mate

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hola bro! me gusto mucho tu publicación es muy interesante me gustaría ayudarte tanto resteemeandolo como dándote mi voto solo una pregunta he visto en vídeos que se puede fraccionar el voto tanto para dar mas o para dar menos ¿como podría fraccionar el voto para ayudarte mas?
gracias por leer amigo si sabes la respuesta comenta mela por favor gracias :)

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hola nexus, no te preocupes por ello por ahora, cuando tengas 500 STEEM power vas a poder fraccionar el voto, mientras tanto el sistema no te da la opción porque el voto es bien pequeño.

Hi @meno

I fully agree with you. We strongly believe our app @share2steem will pull thousands of new members when we have sufficient SP to create new accounts, as it does not even require to know how the blockchain works (nevertheless it is a nice pretext for someone to get interested in it).

Steemit will not kill traditional social media, for sure, but thanks to @share2steem it will make use of them, as people are now able to post on Steem blockchain thanks to traditional social apps (currently Instagram, Twitter and Youtube) and get paid for it.

Feel free to take a look !

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I love the idea of using existing centralized social media as front ends like a parasitic organism in order to draw in their user base. How good for Steem and its price this will be in the final analysis depends, IMO, on whether a significant proportion of these new Steemians will eventually migrate to dApps. I believe a lot of them will as they notice the fact that they can access countless other apps using their Steem account.

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hey bud.. i'm going to check out your app, i was not familiar with it... but of course, i'm all for bringing more and more dapps into our ecosystem.

I noticed that my rewards went up. I was thinking what's the reason and you just wrote about it. Overall great post! Highly resteemed.

I like your article, I noticed the increase in vote value but thought the system was tweaked during the fork. Competitors are everywhere but steem feels like home. I like the cozy vibe around here and hope it only get better.

The exchange blackout is what bothers me the most, hope they open soon enough. It's been a long wait.

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@themarkymark just posted about @bittrex being back up and running... i tested it this morning, everything is good to go!

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Can you buy steem directly with fiat on Bittrex?

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Yes Amber, but you have to apply for it, its not enabled by default.

Well, the truth here is that millions and I do mean millions of spam transactions have been toned down considerably due to the fork.

Not to mention the SDL downvote bot nets are effectively done for. We have observed a rise of bid bot abuse, however, which is troubling.

Take the blog, @askquestion, for example. This is the kind of stuff that is a eyesore to the platform and I hope we all together will be able to devise a more effectual way to deal with it.

Lately, I have been optimistic with folks like you and other showing support to moderation. I think we work to that end and we will see more folks willing to contribute in meaningful ways and not become disheartened when they see how much more effective it is to manipulate the system to be rewarded.

One of the most pervasive problems is the bid bots that upvote without discretion. No blacklists or reporting mechanism such as seems the case for @emperorofnaps. They continue to grow as it is financially advantagepus in the short term for them to be apathetic. I think it would behoove us all to come up with a solution to put these kinds out of business.

I commend the responsible bot owners out there that are willing to forego profit for the bigger picture. Anyways, I hope I am able to get things going with @steemflagrewards and maybe, just maybe, you can give us a plug in one of your posts so as to help get the word out.

HF 20 was progress in the fight against spam and other activities that compromise the legitimacy of our chain but we have a way to go I think.

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I insist the judo move here is to create an smt based on down vote curation for just this type of thing. Creating an incentive for cleaning out our blockchain is sustainable.

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@meno,

You are absolutely right, sir. I believe it's a great idea. We just need to work out how to implement.

Bot maintenance has been running me ragged but should be getting the bot on @themarkymarks host that way my other team members can share the pain and I can focus hopefully on getting more work on the SMT.

Thinking it will be a sort of flag bank if you will. Good flags are tracked and compensated once threshold is reached. Lot of potential I think. Only wished there was more time in the day.

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This platform has giving me new inspiration! I'm totally in it for the community, knowledge and insights. Thanks for your optimism and realistic attitude. As a newbie, I've noticed that I have more than 2 cents a post now, so something must have changed or getting into @discord might be helping too?

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Just being active on here is massive. Read comment engage. It's the secret to starting off. Once people notice you it is much easier to get engagement and votes on your own work. It takes a while but worth it in the long run.

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getting into discord makes all the difference Kimmy, that is the place to do good networking.

meno with that blocktrades vote, holy shit.

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I just might have to buy blocktrades a beer if I meet him! hahaha

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A Block vote like that is pretty epic... Especially late 2018 with scarce Steem haha

minecraft-154749_1280.png

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Is blocktrades curating again? I remember him and his wife being active like that, ages ago.

Great Narritive! We are in the infancy phase now and every individual needs to ask themself, is the risk worth the gamble. No, I'am not only talking about greenbacks, more importantly I am talking about time. One of the few things that money can not buy is time and that is what most of us have invested. Believe in the process.

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well said my friend, there is no such thing as no risk accompanied by gain, right?

I was just discussing with a friend the other day how Steem seems to have settled from the buzz in January that brought many, many new users who have now abandoned the platform. The monetary value has decreased accordingly, but the intrinsic value to the users has increased - those who stuck around or still read/contribute are less so quick payday seekers.

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you can say that again... the openmic contest those weeks was insanity, i remember having 800+ entries to listen to... most of them are gone these days.

Agree very much with your assertion

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What’s the participation numbers now for open mic? Has it been diminished?

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Maybe around 80 or so lately, but it's completely cyclical. Watch it double within a week of the bull run.

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Been here 2 years and my account has always been in the dumps...LOL

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hey Karen... well, you've made over 12k SP i would not say that's nothing...

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Its been slow going but every penny counts :)

Yes, competition is only stimulating the market and shows that the concept of Steemit is very successful.

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well said...

I agree with you I have full confidence in this place and I am here for keeps.

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keep on keeping on and never, and I do mean never... succumb to fakenews...

I’d be curious to see numbers on how much the curation changes might be effecting post payouts too. With the early vote curation returning to the pool, rather than going straight to the post author, I’d assume that effect could be at least as strong, or stronger than any spam reduction.

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posts are now 75% fixed, its actually easier to estimate - im sure spammers are not happy.

I'm seeing people pop again in places again ( who left ? ) that means there is something in the air for sure!

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im sure they will all come back this week... look at whatsup's last post.. I got a kick out of it! hahah

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that means there is something in the air for sure!

sorry I had beans prior...
so...

Thanks for mentioning us and being so positive!

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thank you guys for the hard work you put in...

If I was a gambling man, I would say we are about to start moving up any second now.

I'm having the same feeling for weeks. Hope the Universe is not fooling with us 😁.

Things are looking great! I did take a little break but I’m back! 💪🏼🙌🏼💯

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time to stack the tokens right? We got a few more weeks to accumulate before it becomes really hard...

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Totally! Stackin steem 😂

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Really incredible post. I couldn’t be more excited for the future of Steem right now either.

I’ve been wondering why everyone’s votes seems to be worth more right now, even with the price of Steem staying about the same. Thanks for clearing that up!

Very well put. The hardfork changes were necessary, albeit unpleasant to many at the time. I don't fear competition as the Steem blockchain is constantly evolving

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steem is the one everyone has to compare to, right?

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Good write up! Agree with pretty much all of it :D

When everone was worried about hf20 and low RC. My intution asked me to stay calm...i have a firm faith on Steem longitivity and now the increasing payout proved this correct. Even i noticed it and surprised to see the increasing rewards....even when not voted by any whales. Now you help me understsnd the basic theory behind it....resteemed....thanks @meno

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Thank you for this positive report about the future of the Steemit blockchain. We have a lot of great stuff to look forward to. People will marvel someday when we tell them about Steemit back in 2018 before it was cool.

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And from the ashes a Phoenix arises! I wondered why my upvote value was increasing. It was a tough week, but so glad things are coming good and a leash has been put on the spam. Looking forward to seeing how things go.

Well I think it's time to start working hard for the communities to take force, I think it takes a lot of marketing for more investment to come, but also face lack people who have money to grow the ideas that arise on a daily basis.

For example in Venezuela, we want to make an app to make payments with steem through a simple text message, that would give an added value to the currency.

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that would be amazing Enrique, dunno what it would all take... but hey, have you guys been messing with steempayco? i thought it to be a great solution.

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Yes, but the problem is technology in Venezuela not everyone has an intelligent phone to pay for a service through steeem

How can I disagree with what you have said? I mean I'm seeing the future is heading towards DApps and diversity makes them unique and fun. Not all of the previous activity was real activity which in some other terms was also affecting performance and credibility. Does someone still uses Hi5? or Myspace? but I'm sure bots are still there interacting with each other.

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myspace is still quite alive btw... but your point is taken.

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Thanks for reply :)

I did not realize that there was so much spam at Steemit. I am happy that things are now back to normal.

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Post likes this are what get me hyped for putting in all of this work!

That's a good change on platform. It is good for everyone. This will help in promoting steem & stable the use of resources available. Thank You!!

Like you, I'm highly positive about the status of STEEM. At the same time though I am growing increasingly skeptical about the future of STEEM by the mostly positive sounds, and voting for positive sounds, by top witnesses and by steemit inc. The HF20 features are mostly improvements. HF20 though was an absolute nightmare scenario playing out before our eyes and with all the big players getting behind the positive message, nobody really claiming responsibility for their part in this disaster , I'm afraid I don't see any learning going on. As a result the fears that a next HF might end up a platform killer are growing. HF20 should have been HF20...HF24 or even HF20...HF29. Small, well tested, reversable incremental changes. So for me, the status of STEEM does in no way attenuate fears for the future of STEEM. The culture of "we fixed it, right, so what is the problem" is in no way appropriate for a platform representing over $250,000,000 in value.

Ceterum censeo HF20 esse delendam

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i get your frustration and share it, but if give yourself a chance to listen to this:

https://steemit.com/msp-waves/@aggroed/steem-witness-forum-recording

Hi @meno!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 6.005 which ranks you at #289 across all Steem accounts.
Your rank has improved 26 places in the last three days (old rank 315).

In our last Algorithmic Curation Round, consisting of 239 contributions, your post is ranked at #3. Congratulations!

Evaluation of your UA score:
  • You've built up a nice network.
  • The readers appreciate your great work!
  • Great user engagement! You rock!

Feel free to join our @steem-ua Discord server

I am truly surprised that spam transaction with low level amout of cash can that much lower the price of payouts. Now i see the good benefications after implementation of HF 20. Waiting of loading code really helped. Now all works well. Steem community advanced to next level. The future should be better for us, Steemians.

I couldn't agree with your post more. In addition, I think the growing dissatisfaction with the censorship coming from all the centralized platforms, from Twitter to Facebook, are only serving to drive people towards Steemit and other decentralized networks. The future is bright.

hey Meno, hows it going?
i got one question, where do you get your statistics from? cheers.
cos i wanna see the numbers.

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some reports you can pull from here:

http://www.steemreports.com/

however, more detailed reports

https://steemsql.com/

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oh MIGHTY thanks!

we just have to wait and see after all! it's nice that my upvote worth a little bit more though :P

Did Facebook kill twitter? Did Twitter kill Reddit? Did reddit kill instagram?

No but instagram destroyed facebook, that's why they bought it :P

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Hahahaha they made fb uncomfortable but did not destroy them. I get your point tho... Haha

Newish to Steem. No idea what this hard fork is about. Don't care the community around here has been awesome. Looking forward to the future of this platform :)

Too much optimistic view, isn't? At least, now, not everyone will agree with you. But what you are hoping for, if the days comes, people will return back, no doubt.

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I'll keep taking the rewards and it's all still fun for me. The spam and abuse have not totally stopped, but some people are dealing with them. It's up to us to moderate.

I'm interested to see where the next wave of users come from. I'm not sure how we should be creating accounts now. I see Blocktrades charges about 5SBD for it. I'll happily pay to get good people on here.

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dapps are going to be able to make them for "free" - they are not really free, but they are discounted using their excessive Resource Credits.

But, everyone can technically do it too, granted they deploy the right command.

Blocktrades is up and running and anonsteem too... so, if you got someone waiting on the sidelines, get them in here.

You've made the Steemit Minute for today! Congrats!

Check out the Video Here: https://steemit.com/news/@reseller/xlorsupz

Congratulations @meno!
Your post was mentioned in the Steemit Hit Parade in the following category:

  • Pending payout - Ranked 6 with $ 224,8

Great article @meno. Came here from @reseller. I couldn't agree with you more man. The whole of the cryptosphere is down in a kind of stasis slump where the most you see is a little jitter of up and down a few percentage points. I enjoy your positivity too. Thanks again for the info and I'll be looking forward to more of your posts!

Wow amigo, excelente material.
Me encantan tus reflexiones o crypto-reflexiones; considero que la competencia no es mala, por el contrario nos ayuda a prepararnos mejor para competir, no contra ellos, sino por ser mejores, nuestro peor enemigo es uno mismo, así que solo debemos mejorar, y seguir adelante.
Te envío un fuerte abrazo desde Venezuela amigo @meno.

Again...
THANK YOU!

Great post and just the shot in the arm I needed. If the spam goes away and the onbaording starts clipping along, we’ll be sailing!

I am still hanging in there, don't know yet how all these changes will affect me, but time will tell!

What do you think about the memory requirements increasing combined with the value of Steem declining, thereby making witnessing a loss operation, in a long term scenario... ? It’s something that maybe there’s a solution to?

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That is precisely why the updates were needed, for scalability. I'm on my phone as you can see, but with these updates the crazy ram requirements will be solved by solid state drives. Now regarding making witnessing too expensive, that is a concern I do have. I mean, I've been really lucky myself and @helpie has never run at a loss, almost from day one.

But, in my opinion there is a silver lining to it not being so easy. We could say that the effort one must put forth to garnish enough support can either make a would be witness revisit their already shaky convictions, or cement their commitment and resolve.

My experience is anectodal, but like others I've invested so much into this place, that I was willing to run at a loss, because I was comfortable with having to earn the support one vote at a time. I did not want to beg for votes and probably never will, if someone does not feel like @helpie deserves it, then it doesn't.

So again, I hear you... But I find this to be somewhat of a test. Life's way of making sure we are ready.

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First comment I made on one of your post and great article about steemit clones. Your explain your thoughts in an easy way to understand.

Steem is the best .big thanks to steem team .keep go on

You're just good at all steem explanation! Yes, I have seen the $ value of the content been rising and what you explained just clear it all up.

About the Steem clones, I'm actually hanging out here and there (always good to have eggs in different baskets)but still, Steem is home ALWAYS.

I do believe in Steem and can't wait to see all the dapps/SMTs coming out for us to have more fun haha. Can't wait till the whole cryptosphere moves up! :)

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thank you for the compliment :)

Steem is home ALWAYS.

Yes, I echo your sentiment there!

I didn't even know about any 'fork' and don't entirely know what you mean by it. Kinda new to Steemit so that may be why but I am an optimist about Steamits' future. I think it will go far :)

Yeah...I am Bullish on Steem and @Partiko .... hope to see you on the Leaderboard soon @meno

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This post is true. We saw lot of spam comments everywhere and because of the Hard Fork 20 implementing Resouce Credit system we saw a lot of spammer gone out.

The Steem is the only blockchain that has it all...Great read