What future for minnows after HF21?
Hardfork 21 is due tomorrow. Steemit themselves say:
The rewards curve is changing. We expect posts that would make more than 20 STEEM under the old rules to earn more after the changes. Those posts that would have made less than 20 STEEM under the old rules will receive less after the changes.
That sounds bad for small accounts who struggle to make a dollar (~5 Steem). But it is still more than most of us can make anywhere else for a blog post. Maybe we need to concentrate more on quality rather than quantity. You can churn out single pictures or fitness updates, but do those have value for others? If you want to be earning on Steem then you need to work at building a following based on what you have to offer. It seems writing about cryptocurrency and Steem in particular gets good engagement, but we need a broad spread of content to attract all sorts of people to the platform.
HF21 also introduces free downvotes that could be used to reduce excessive rewards on some posts to free up more for others. There is plenty of abuse going on and this is likely to continue. If the downvoting can be coordinated so that many people work together it will be harder to retaliate. Downvoting is a vital part of Steem curation.
The original intention of this account was to promote the support of small accounts to try and get to 10,000 minnows (500SP), but the numbers have been falling lately. We are gaining more dolphins (5000SP), but we cannot afford to be losing users. Having more people with a good amount of SP means the votes get spread wider. HF21 gives higher curation rewards, so make sure you use your votes. You get 10 full votes each day if you want the voting power to recover over 24 hours. Use them well.
@steevc is behind this account and has a couple of offers still open:
- Small accounts can get free Steemmonsters card leases.
- He will also create accounts for people who can add value to Steem. If you know someone who wants to get on board without having to wait to be verified then get in touch. He will delegate to them to get them started. Anyone with a good amount of SP can do this using resource credits.
Steem will only succeed if the users want it to. Just playing it for short-term gain will not help.
Steem on!
I agree that we need people with long term goals in steem and I will try to play with some SM cards soon. Thanks
It sticks for for being a small account during the changes but I remain optimistic. A single penny is progress. A real comment even better. Both are rare on many other sites. (At least for me)
I'm small but I'm not allowing any self pity. None. Complaining just take time away from explorering new paths and options and solutions.
Good luck to us all. The entire steem community.
I don't think there are many crypto projects with a community like this one. That is our strength. We need to keep it growing.
And grow it will 😁 as long as we are all in this together.
Value is indeed the key word, as are community and interaction. Monetary value might be a result of that. A beautiful bonus.
Very curious what this hardfork will bring. Only time can tell...
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I think of this as a move towards the future of STEEM. I would encourage small users to focus on their tribes or (SMT's soon), where they will get more visibility and better rewards. These can be turned into STEEM if you want.
In the future with more users, people will only be earning small amounts of STEEM anyway so it is the different tokens that will be earned by the users.
Tribes have great potential. You get much better signal to noise there and can be earning well from the tokens. I hope that SMTs and communities will also open opportunities for better engagement.
We soon see what happen... but I think this work for as all soon very good :)
I am glad it is already here so we can experiment with the changes and adapt accordingly. It will also lead to see how we can help other join and onboard under the new economic model so we can continue to spread the rewards and truly decentralize the ecosystem. This is what will add value.
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