Don't forget, n log(n) , before it's too late (update, 1.3)
Yesterday I wrote about the dream. I had 5.000 Steem. I sell them. And I bought myself Porsche 911
I joined about 400 days ago. I believed in this concept, and my dream was a reality for 50 days. Unfortunately, I didn't have 5.000 Steem at that moment.
The whole dream collapsed for apparently no good reason.
During that period:
- for 50 days you could buy 911
- for 51 day you could buy Quatroporte
- for 57 days you could buy BMW, 5-Series, F10
- for 132 days you could buy Alfa GTV
- for 135 days you could have Free Mykonos
- and for 70 days - a decent camera
However, there is a reason! The Reason...
We don't have a product
That's the whole point, and that is the problem with Steem(it)
What was the premise? Why should people join Steem(it)?
- you will earn money!
- it's on the blockchain, it pays crypto!
- your voice is worth something!
- it's decentralized!
Premise No.1, You will earn money!
You. Will. Not. Earn. Money.
It's an impossible promise.
Steem is produced every 3 seconds. A piece of that cake goes to witnesses, to voters, to content creators - read the bluepaper and find out more.
There will be about 30.000 Steem per day, to split among users. With the current price, it's about 10.000 $ per day. Unless you are the Cheesus, and you can feed thousand people with a couple of fish and a loaf of bread - you can't earn the money. There is not enough money. Even if the price is 3$, there will be 100.000 $ to allocate. You want to have millions on Steemit, and you want them to get, I don't know a dollar per day.
What is the target price there you can print 1-10 million dollars - per day?!. After 1 year, there will be Billions of $ worth Steem. Ho-hohow...?
it's on the blockchain, it pays crypto!
Ok, nice... Is that crypto accepted, can I buy something with that?
No...
Is it easy no use?
Sure, there are 5-7 keys, don't lose them, you will need to read 20 pages, and you need to wait for about 2 weeks.
Blockchain hype... Ok. Do the test. Go to the streets, and ask people do they know what is "blockchain".
Try to explain it to them, in 3 sentences. Put your accent on applications and practical considerations.
It's a sort of ... database ... which is ... decentralized ... and all the actions are going ... forward ...
The answer, if the person is technically literate: "Ok... For me, what's the difference? FB has servers, Gooogle has them, those are not in the same building? What's the point? I have internet, it works without that block... thing..."
Your voice is worth something!
We know that already?! You can make a website and run ads, banners, whatever...
You can make great Insta profile and attract sponsors.
You can make a Youtube channel and earn.
Tell me something new...
But here, you can pay to your favourite content creator by clicking the Like button!
Tell me something new... I click subscribe / share / like button and my favourite c.creator is more popular?! What's the difference?
It's decentralized!
People don't really care about that.
When I step into my car, put the key, ignite the engine... All I want is to have a working car.
Is the production of my car centralized? Does Alfa Romeo share components? How many cooperators do they have?
I. Don't. Care. Nobody. Cares.
How strong Steem(it) is?
Steemit is a blogging platform, let's compare it with some regular websites:
All of those are working on the same principles...
https://www.worthofweb.com/calculator/
Ok... Steemit is a global product, 7.000.000.000 people can use it.
How it stands when compared with the news website from Serbia, 7.000.000 people can use it, or Croatia, 5.000.000 potential users
1000x smaller population - almost the same value?!
DpReview, specialized website, they review cameras
What?! How?! The market for cameras is only about 10.000.000 units per year, according to Canon and Camera Reviews beat Steemit?! Hooow?!
What about the website where people sell their photos?
What a hell...
Why is it so?
Those who create the value of the given websites are PROS
We are amateurs!!!
What is the solution?
Hire PROS
- call them, with the offer. You will create X, promote Steem(it) and you will be paid Y
- join with them, take their users
See this, people love this website, people are spending 15 min per day on that website
FIX THE MARKETING
This is what you will find on Wiki:
Steemit is a blogging and social networking website owned by Steemit Inc that uses the Steem blockchain to reward publishers and curators.[2]
On July 4, 2016, Steemit, Inc. launched Steemit, a social media platform with virtual currency rewards that runs over the Steem blockchain. On July 14, 2016, Steemit announced on their website that they were hacked.[3] The attack, according to them, has compromised about 260 accounts. About US$85,000 worth of Steem Dollars and Steem are reported to have been taken by the attackers.
Steemit gives small amounts of its cryptocurrency token, Steem, to posters who get upvotes.[4] Posters can also be tipped by readers.[5] Steemit faced financial difficulties in 2018 and laid off 70% of its staff.[6] Steemit co-founder Ned Scott referred to the Steemit blogging platform as an interface on top of a blockchain, akin to a blockexplorer.[7]
FIX IT, ASAP
FIX the TRENDING PAGE
I don't care how, there must be only good, representative materials.
When I enter Insta, I see beautiful girls climbing mountains
When I enter FB, I see what my friends are doing
Here I see complete nonsense
FIX IT, ASAP, MANUALLY, ADD FILTER, BLOCK THE NAMES, Who cares how...
PAY THE BEST, HIRE THEM
For 5.000.000 power, you can give 10 x 100 $ per day!
Good...
- Give 5.000.000 Steem to Gurushots, or 500px, or Tony&Chelsea to promote the platform and bring you the users
- Another 5.0000.0000, split to already established projects, 10 x 100 $ per day: The Great War, Military History Visualized, Thunderf00t, some food, some nature, science, whatever. 10 projects with 1.000.000 subscribers
- and the last 5.000.000 give to individuals, 50 x 20$ per day. Find 10 good photographers, 10 scientists, 10 Instagram Girls, 10 adventurers, 10 speakers
Put them on the trending page. We want to see something beautiful.
Price = n log (n) , Reference, Thanks, @lauch3d
Attract 2 times more users ---> repeat, make more partnerships with websites
Attract 2 times more users ---> repeat, finance real scientific projects, discover new species, get Steem(it) immortalized in the research papers
Attract 2 times more users ---> repeat, call Jordan Peterson to join and pay him 1.000 $ per day to post whatever
Good, the price is 3+ $ now... Marketcap is 1 billion $, position No.10
People want to have a product
Professionals know how to deliver it
Invest in Professionals
Forget the ideology , stick to the facts. Only Facts and Math
You can do this.
@Ned
25 years ago this was the cover for the Yugoslavian computer magazine
Look, technology is Cool. We are creating something new, sexy and exciting for the new millennium while the rest of the Yugoslav people are working for 100 $ per month (yes, one hundred).
This beautiful girl is excited, because You, computer geek, You are the Alpha! You are The Man! You are the one who Creates! You are the one who has a Dream! She doesn't want a warlord, she doesn't want a rich criminal. She wants - YOU!
Straight up your backs, wake up, and start dreaming again! Make new generation of beautiful girls fall in love with you! (*or boys, whatever you prefer, but you get the point)
Don't fall into meaningless nichilism. Stand up and fight for your vision!
Here is the catch... If your presupposition is that FB is junk, or evil or bad, or wrong - you are danying reality.
This is the link, the whole planet is on FB?! 2 billion people
https://www.statista.com/statistics/264810/number-of-monthly-active-facebook-users-worldwide/
This is the price of their stock. Yes there is a bump, the same bump that washed away 1/2 of your Steem value. Don't be happy to see such bump again
Marketcap of Facebook is 500.000 Million $ (25$ per user)
Marketcap of Steem is 100 Million $
Marketcp of the whole crypto is 115.000 Million $
It's 5000:1 ratio, FB vs Steem
and 4 : 1 ratio, FB vs Crypto
How many people work in FB? According to Wiki 30-35.000
In order to act properly, you need to understand the reality, not to deny the reality.
(*no, it's not subjective, it's measurable)
Let me demonstrate the scale of this
GDP of the USA is 20,513,000 = Facebook
GDP of Germany is 4,029,140 = The Whole Crypto
France = Bitcoin
What do you think, where is Steem in this story and why I think if could Mooon in Price!?
Any Guess?
- Poland, Belguim, Austria? - No, those have 10x lower GDP, we need 1000x lower than GER
- Croatia, Serbia, Lebanon Lithuania - No, those have 100x lower GDP, we need 1000x lower than GER
- Bosnia? Albania? Malta? - Still too high
This is where we should look
Let me repeat you again:
- FB = USA
- The Whole Crypto = Germany
- Bitcoin = France
- Steem = Montenegro
A lot of things can be done if there is a vision
Indeed, a great lecture. Merci bien! Resteemed.
Cent % upvote pour les Francais :D
Alexs, great post...
but where do you get a 911 for 5,000 * 8.00 USD= 40,000 USD??? ;-)
couldnt agree more. This is good comon sense!
there are 5000 daily active users on steem(it). This is critical! n log(n) also works the way down! linear loss of users means exponential loss of value. If it reaches a critical mass the network becomes too expensive to run.
I think Ned wants exatly the points you mentioned. But afaik Ned is not focussing on steem(it) anymore. He is working on a new company and social media called destiny. But there is no update yet.
3 Month ago by Ned Scott I cant inagine that he abandoned this projekt. Seems that he is not happy with steem(it) but hopefully if there is a new social-media, it will run on Steem.
Exactly!
At this point, it becomes impossible to attract new people.
Even steemSTEM community, very strong, supported by Utopian is struggling.
The top reward is about 20 (real) $
Experts in science, tech, eng... already earn 20$ per hour or more
Every hour (2500 $ per month)
How we can attract them by calling them to join and write posts for 1-2 hours and... Earn 20$?
Yet alone "ordinary users", there is nothing for them
The only group of people that can compete are those who are already earning a lot,
who would not invest too much of their time into Steem(it)
who already have a product and audience
It's the same story in every aspect...
Try to beat IKEA prices and build a box with your own hands.
Trust me, it will be impossible task for 80+ % of people
It's what I've always said in recent weeks, how do we attract more people? at this moment it is impossible. However, stem-espanol still survives because despite the low price of the network, it is still a little profitable for users, although honestly not as much as 6 months ago. My mission has always been to attract users from many countries and I am doing them, but when they ask me how much they will earn and I tell them that it is not safe, they immediately lose interest, nobody works for free. That's the problem, so the low price is not drowning, even with the value of steem at $ 1 would not be profitable.
So what are we doing?
How much more will we wait?
What should we do to increase the value of the steem?
Expect more and lose the opportunity to attract more users?
Honestly, many things are failing, there are few communities that are working for the growth of steemit.
And finally, what is the solution?
I do not think that at this moment we have people who can answer this.
What happens when you roll a realist, a scientist and an investor in one package? You get @alex1320.
On the nail with so much of what you say. What is Steemit's product, besides crypto? Because, as you point out, there's not enough crypto to hold a following.
May I humbly suggest that Steemit has to appeal to a broader demographic? Think more about attracting an older audience. And don't project the platform as male-centric.
Look at FB's demographics. Approximately 46% of FB users are over 55. Older people, particularly retired people, have time and disposable income. 53% of the users are female.
The challenge in attracting older people would be to overcome their apprehension about technology and a new concept. Also the fear that they might be scammed. The blockchain has to appear to be accessible and user friendly. And the fact that it's free has to be right up front. After they are here for a while, they might want to increase their VP (navigability) by buying a little Steem.
I think marketers can sell the experience of blogging and connecting on Steemit. But unless we fix things like the Trending Page, as you rightly explain, that experience won't be very good, and they won't stay for very long.
I hope someone who can make significant changes is reading your blog.
True...
100% true! Look how scary this is:
In real life, I have the key of my home, my car and the building + 2 codes for my bank card. Here I need 5 to blog?
And there are 2 currencies + 3 options how to save them
Ultra complicated. I can bet that the majority of people would rather forget about the rewards and have a convenient way of using the platform *(some sort of "Guest posting key")
What else... :) Come to our blogging platform, or implement our tech into your established website in less than a day
When I read your response I thought of the first time I went to a casino. It was easy to enter. Entertaining inside. Nobody asked me for money--as a matter of fact, they offered me free chits to "try" their slot machines. I could have stayed all day and never gambled a penny. Or I could have played the nickle slots. But after a while, I wanted to join in. Looked like fun. It was fun. And at the casino, they literally just took my money :))
Here there's an almost Pavlovian reward mechanism in operation (reminds me, in a way, of the slots). Post an article--wait for the response. The money is in pennies, so obviously that's only part of the reward. When you get a big payout it's like 777. And this is real money, that you can earn by putting in real effort. A fun time, plus profit. There's no downside--unless you buy more Steem than you can afford to lose.
I think your idea of free 'guest' privileges is perfect. Let people have fun. Doesn't cost them anything, but of course they don't get financial rewards as guests. Once they are comfortable, once they see that there is nothing to fear here and it's fun (believe me, I'm having fun on Steemit), they'll want to become 'vested'.
And your discussion of the "keys" is perfect. I'm afraid to use Steemconnect and any of the other applications, because frankly I don't understand how it can be safe to share my keys. It's very complicated if you're not (and I am not) technically savvy.
Ex.cel.lent. ! You managed to summarize what many people/steemians think.
Thanks!
Posted using Partiko iOS
Thank you for reading. People like you are returning me the hope
This is a really good post. Thanks!
Thank you
I enjoyed reading
Спасибо :)
Lol you are posting on Steem to complain about how bad things here are?
Why don't you go back to Facebook, instagram and co. and share your mainstream wisdom there? Honestly most good alternative News channels get kicked out of these institutions and you still don't see the benefit of content on the Blockchain?
What is the product of Steem? Haven't you figured out that one Steem Account serves multiple Apps? Try that with your Facebook Account without exposing your whole live to that company...
Your post is full of wrong assumptions and missinterpretazion please show me the car dealer that gets you a Porsche with 5000 x 4$ Steem = 20 000$ lol
Some good points, but STEEM actually has a working product and the product are dApps, Steemit is just one of them: https://steemapps.com/
In that case - we are screwed...
Making the community is incredibly complicated.
They have no clue how to do it, although they have some sort of printing press for money.
This is why I said - join with those who know how
They have already done that, without any help from crypto
Make the whole process seamless - and acquire new users, fast
If people think they will make money with Steemit, they are wrong... that´s the only part I agree with you...
Only early adopters, like every single one of us reading this post, will be able to make decent money and attempt to buy a Porsche!!
"Make money" should not be the selling point for Steem(it)
You can make money on YT, but that's not No.1 point.
No.1 point is: come here and watch video
Some people will make money. As in every single aspect of human life.
Play football - Make Moneeey!??
No... Play football, have fun...
The same should be for crypto.
Have fun. By the way, here is some crypto. That's it - but have a good time.
If Steem(it)/dApps become widely accepted, it will be possible for numerous people to earn something measurable.
If we want that to happen, Steemit must become a funny place for millions to hang around.
With 10.000 users - it's dead. It's way too much diluted and you will not find anyone who can become your "digital friend"
This is why dating apps are disastrous - too small base of users
Now I got it.
Makes complete sense, we might need to change our "marketing strategyes" and promise/offer something that billions of consumers want, a good time.
Correspondence with you gave me an inspiration for my next post: good time vs money
Awesome, that's what I like to hear!!
I´m curious to see how you will explore that relation between 2 concepts that can be correlated, but at the same time are opposites...