RE: What is it about STEEM that its tanking so hard? // An open letter to STEEMIT.INC
There is only one 'large' stakeholder that matters here.
People with 1/2%-3% are not really large stakeholders and they certainly have little say in how development happens (believe me, we have tried).
Your points about rewarding engagement and such are focusing on the social layer which can help things to some extent but has desperately needed improvements for years but has been ignored in favor of long term initiatives that have largely been a bust and probably a huge waste of money (though I'm not privy to the spending records).
There is no substitute for effective development when you start with a system that was barely a proof of concept at launch. The first several months saw a good deal of continuous improvement but after that things went badly awry.
Okay, your points are valid. I just can't see continuing to depend on what has proven to be undependable.
When there is still only one large stakeholder there isn't a choice. Other than a community fork to redistribute stake, and that's a big can of worms.
Like it or not when you hitched your wagon to Steem, you hitched it to Steemit too. Let's hope they can get their shit together, because such hope or just writing it off as a loss are the plausible alternatives at this point. My comments are meant as constructive tough love. I think they are that too.
You've always been blunt and honest and hence someone who's opinion I value.
Which is why I am disappointed to hear you say this, because you are likely right.
Being blunt and honest doesn't necessarily make me correct. I could be completely wrong, though I don't think so.
I've been somewhat of a skeptic but have also kept an open mind on things and sometimes defended Steemit Inc against what I saw as unfair or incorrect criticisms. However, after enough experience, one can start to reach some stronger conclusions and this case they are not favorable ones. I do hope that they make some big changes. If not then the time will likely come when those who, despite further failures and disappointment, continue to support Steem as a blockchain (of which I may or may not be one) will need to consider a strategy for a post-Steemit Steem.
Stronger conclusions based on experiencing further failures and disappointment. I can relate with those words. I tried to envision a post-steemit-steem blockchain. It's non-existent.
Constructive tough love, when directed at the insecure and those with a fragile ego, is only ever seen as personal attacks....unfortunately..