Are We Alread Seeing The Explosion That Taskmaster4450 Discussed? Insights Revealed...
I just finished writing my "convergence" series about how we are a tipping point with the steem blockchain and how things are about to explode.
We are already starting to see some if the things I discussed coming to fruition.
Apps are very important and one making headway is steemit.com. Over the last few months, we witnessed steady, albeit not sensational, growth. @stealthtrader posted yesterday that we crossed 500K users.
While this number looks rather small compared to the overall size of the social media market, it is vital to remember we are still in beta. Steemit is still ironing things out. That said, when joining in August, I was somewhere around user 318,000. This means 180,000 people were added in just under 4 months. I think we see the growth rate increase in a compounding manner in 2018. Do not be surprised if there are 1M accounts by the end of April.
One of the things that will drive the growth rate is the price of STEEM. In the last couple days it shot up about 20%. This is crucial because everything on steemit is listed in dollars. Did you notice what happened to all your payouts. Looking on Steem.supply, we see the value of our next week's payments soaring. Suddenly your 50 cent post is now worth 60 cents.
This will only draw more people in. We are going to see $3 in a short period of time which will make all these numbers look even more appealing to people.
Steemit is quickly becoming one of the top sites in the world. I do not thing many are aware of this.
A few months back, people were bragging about how steemit.com was a top 2000 site in the US. That is a fairly impressive figure especially for a site that was about 18 months old.
Now, we no longer are ranked at 2000 or 2100 in the US. Instead, according to alexa.com, steemit is in the top 2000 globally with a ranking of 1988. In the United States, this site sits at exactly 1000.
When we see the break down by country, or at least the top countries, we notice that the United States has the highest percentage of visitors. Second, surprisingly is S. Korea.
What I find fascinating about the South Korea ranking is that steemit is #350 in that country. This site is quickly becoming one of the dominant sites. Therefore, I can only surmise that there is a good chance steemit is on pace to becoming one of the top social media companies in that area. This is a remarkable accomplishment when you consider that S. Korea, while not the biggest country, is very advanced from a technology perspective. I imagine this will open a lot of doors in terms of development.
For those who missed the convergence series, in the last post I mentioned the technological curve. One of the reasons I am so optimistic about STEEM exploding is we are still in the early adopter phase
All technology goes through this pattern. At its core, cryptocurrency is a technology, hence subject to following this curve. While many can point to the run up in bitcoin or other cryptocurrencies, from a technological standpoint, we have not seen even a smidgen of what is coming. We are at the base of that red upward sloping curve. 2018, in my opinion, will see us really starting to ascend it.
It is wonderful to see things unfolding exactly as they are suppose to. None of this is coming out of left field. Each of you can rest assured that blockchain is doing exactly what the Internet, PCs, and cell phones did. One of the reasons people say we are at the Internet circa 1994 is because of this curve. Technology people realize that the adoption rate is only going to accelerate. It does with all technologies. As advancements are made, prices start to come down and the technology becomes mainstream.
The nice things about blockchain, in general, and steem, in particular, is that we are far from mainstream at this point.
500K users on steem is a wonderful accomplishment.....just wait until we pass 5 million...then things should be really interesting around here.
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When I joined in October I was just under 400,000. So in two months 100,000 people joined. 50,000 a month is a strong growth rate! I feel it my friend. I see it moving swiftly!
It is moving swiftly.
I keep trying to hammer home the point of not acting like bankers and promoting sharing is caring.
VP costs us nothing but people are stingy with it. I know that is conditioning of the bankster run world. It is time we break that habit and share openly and with love. We need to do all we can to help bring the newer people forward, give them some motivation to contribute here, so that we all grow together.
I agree with you. I've written about those who are leasing steem as well, which is usury in my opinion. I've since delegated 94% of my steem to new users to help them get started. I am still able to vote with some weight due to the generosity of @FullTimeGeek. So paying it forward is a new paradigm and this platform supports that move! It did not cost me much but it has brought huge emotional, mental and spiritual rewards by giving! Time to break the paradigm of scarcity and use this platform which supports prosperity for all ... if it is used in the right way!
Usury?
LOL then you are going to love one of my upcoming posts...perhaps tomorrow...I am going to point out the banker mentality that is on here as it being the only thing wrong with steemit.
I am also going to review my 1KSP project to try and get people involved in helping newer people get to 1000 SP. I just posted how I got my first success story, she crossed 1K SP last night.
You are right, it feels wonderful to be able to do this for people. I am not sure you are aware, but with me believing that STEEM will be $100 in a year, 1000 SP means someone will have $100K in their account...that is life changing money for most in the world......I feel it is worthy for us to get as many people to that level as we can.
As we know money does not solve all problems but a lack of money creates many.
Just for giggles, what is the plan for when the US dollar collapses. What is the comparison (valuation) going to be done with instead? Do you know?
My view is the dollar isnt going to collapse like many believe. People like to point to the endless printing of money as the culprit.
Coming from the technology arena, I look at things a bit differently. Society is not going to experience inflationary pressures but rather, deflationary. Costs of things are going to decrease as more of our economy falls under the laws of informational technology.
Many of the debates we have today are going to be a joke in 10 years. Like the healthcare issue in the US...in a decade it isnt bankrupting anything....technology is starting to penetrate the medical sector which is going to deflate the costs of things.
Also, more people will be using crypto so the need for the dollar isnt going to be great. As more commerce ends up in crypto, I think the dollar will ultimately fade away. My article about bitshares yesterday shows there is already a "banking" system starting to form which isnt dependent upon fiat.
For 30 years I have heard the total collapse of the dollar (and the US Government too) and it hasnt happened. The US debt load isnt outrageous...not when compared to the value of the US economy which is, ultimately, the backstop for all government debt. People like to compare the balance sheet item ($21T in debt) to an income statement items ($18T economy) which is baffling (although it makes great headlines). When you compare the value of the US economy, which is estimated to be $300T-$350T, the debt ratio isnt that fine.
In the end, just like government, blockchain technology will cause fiat to fade away. Fiat might be only used for government payments in the future...everything else in crypto.
Blockchain will also make government smaller..it might take a while...they will fight.
The big thing is getting the banking system reworked...getting that out of the hands of the usury slugs that run it now.
Just my 1.8 cents (see it is worth less already).
Well done and bravo to the user who crossed the 1K barrier! Indeed I do look forward to that post! Sounds like the two of us are on the same page! hehehe.
I posted the article I mentioned to you about those acting like banksters.
https://steemit.com/whales/@taskmaster4450/steemit-s-only-problem-whales-and-others-acting-like-banksters
I was upvoting kr posts for a few weeks in the fall. They do not use bots and so they were good for curation rewards over there. Often a kr post gets very little on Day One and then the big guys come in on Day Two and shoot the reward up. Completely different from the other posts I was upvoting.
The quality of the kr posts blows us English speakers out of the water and they are very big on interaction and supporting each other. I was consistently amazed by what I saw. I'm not surprised they are crushing it.
Steemit is very exciting now and I am trying to stay healthy while posting like crazy. I have two fb friends asking me about it now who have previously ignored my steemit posts. One got her login approved today and I told her to say goodbye to friends and family and get in here!
The increase is exponential, I am convinced that the more users enter the page, the more problems such as bots are solved. We will also have to make some changes with respect to "trending", "new" and "hot".
But the sure thing is that all of us who are now in Steemit will be in an advantageous position when the number of users rises steeply.
P.S. I am not surprised that South Korea is second in the ranking, they are very active here in Steemit. They are not the first ones simply because their population is 6 times less than that of the United States.
Next time slap a big number with percentage increases. You mentioned there were only 318K when you joined 4 months ago. We are now 500K
As a percentage it's a 57.23270440251572% increase!
stemit grew over 57% in 4 months! That's the news hidden in numbers.
Good point...Percentages are always good to show.
Steemit is really making waves and this community is really helping people . Am happy to be counted among the first 500,000 and pretty believe in your prediction of hitting 5 million
I was literally not figuratively just asking my wife if she thought our joining a week ago meant we are early adopters and discussing why that's a good thing and bang 2 minuets later I find your article.
Thanks for writing it.
I dont know what your wife said but my answer is yes, you are early adopters.
these are great stats on steemits developement,steem is certainly about to explode and i dont think sbd will be back to the dollar range anytime soon, that might be the main draw in of the sign up increase.
I am amazed there are already 500,000 people here...
Will be interesting to see if your prediction of 5 million holds true. I wonder how the platform will change with such a huge influx.
The big change in steemit will be communities.
The other apps are also very attractive and will draw more in I believe. Dtube and Zappl are both interesting projects with low learning curves for new users. I think people will sign up for those apps alone.
It's great that we can benefit from Steem trending so much in South Korea. And I don't even speak Korean!!
I dont either but the South Koreans could do remarkable things to increase the price of STEEM and to push the steem blockchain forward.
Great info, I am suprised about South Korea! I mention steemt to anyone that I meet if they show the slightest interest in BTC. Especially when they lament about missing the bitcoin boat, which I don't personally believe at all.
Anyways good stuff here! Thanks.