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RE: Would Steem benefit from a Bitconnect style referral program?
It would, greatly but not yet. Steemit has a lot of issues it needs to fix before going mainstream.
It would, greatly but not yet. Steemit has a lot of issues it needs to fix before going mainstream.
Steem is losing active users, this trend cannot continue.
I noticed, it's feeling like a ghost city lately. Also the thing that we can't separate the good content from the bad is a real issue. I'm getting tired of seing the same people on trending / hot all the time.
Wee need a way to incentivize voting on good quality content and rewarding minnows.
Wee need a user retention mechanism of some sort. I got an idea or two that might work, will write about them soon for utopian-io and hopefully someone actually listens and they implement it.
Also the progress seems to be really slow considering the amount of money that's on the table and that's a bit dissapointing.
But with all this considered I think steem doesnt depend that much on Steemit, because we will get a huge influx of new cash from SMTs. It's just the matter of time people start harnessing the superpowers of the steem blockchain. Because who else can provide speed of light transactions with no fees ? :)
Value is subjective so it is going to be very hard to separate good content from bad. On Reddit popular content (not good content) is upvoted. So that goal is a much harder goal in my opinion than to merely grow the size and connectivity of the network. I would prefer we focus on growth and connectivity.
I think the quality of content improves with growth. More users means more everything good. But we need more than just more users, we also need more activities because the range of contribution is way to narrow. If people can only add value by curating or blogging then Steem is doomed because most people will never be great at either.
The more ways we let people contribute to adding value, the more connectivity there is, the more wealth there is. This based on Metcalfes law is how the wealth of a network is measured. And no, do not assume we will get a huge influx of new cash from SMTs.
First why should anyone care about SMTs? VCs might care but ordinary people? So either SMTs will be marketed to ordinary people or to VCs. And that is my point with these posts, you can have the SMTs but if you cannot explain to the normal person what an SMT even is then good luck.
And then if you want people to hold it, they need the incentive to do so. The APR or yield are just one way. In other words you have to make the SMTs sexy. This is something which requires people to actively do, it will not happen just because the tech exists.
I know but we can all generally agree on what can be considered good and what is bad.
We need a way for discovering things like contests and "activities" you can do on steemit and improve the whole concept of browsing through the feed because now it's really hard to find anything.
Also the fact you can't browse posts that are older than 7 days....
Why should anyone care about SMTs? Well look at it from a bussines perspective. If you were the owner of reddit wouldn't you want to increase your userbase and reward them for contributing, thus increasing your revenue and maybe even going add-free in the process improving user experience even more?
There are a lot of projects that could benefit greatly from SMTs. Also the ordinary Joe using a site that has SMTs doesn't even need to know what they are or that it's running on the blockchain. The only thing he needs to know is that he earns them by contributing to the site and that he can exchange them for BTC/cash if he wants.
Also check this out if you still haven't seen it.
I can imagine them getting 100m+ users in a year, easy.And can also imagine this dwarfing and taking over Instagram for good. And when they get a big userbase whales will come who want to market there increasing their value even more.
And every token they have needs to go through steem first so when they grow we grow.