What Direction Is Steemit Going?
I think one of the most highly debated topic on this platform is where it is going, and although there is a lot of speculation, there is, of course, no certainty of any direction it may or may not go. But let me go ahead and talk about the speculations and what I personally think.
First off...Let's keep these things in mind.
Here are some of the basic facts about the steemit platform, for one, it is a blockchain based platform, which could be great for some and bad for others. It is also backed or relies on the crypto of steemit itself; STEEM. Also, the rewards pool is very minimal and can only handle so much draining or abuse from the steemit users.
Also...There are so many spammer accounts on here that have been being created in recent times and are growing exponentially by the day, as well as spam bots or annoying bots in general. Steemit is also becoming more and more popular as well and more people are joining, which could be both good and bad.
So, do we all so far agree? Yes? Okay, Good. Let me explain both sides of the argument.
The Steemit Doubters:
A lot of people are losing faith in the platform, and after they had already made their fair share, have been powering down and cashing out. People are turned off by the massive amounts of spam on this platform and how hard it is to grow. Many big users have been powering down and cashing out, therefore draining the rewards pool. So many people believe Steemit could very well go down and crash because of the massive amount of rewards pool draining from not only Spammers/scammers, but also from whales and dolphins who are powering down. Which to be completely honest, could very well be the situation us steemians are faced with.
The Steemit Pushers/Pumpers:
Another big group of people thinks that in spite of the platform being difficult to grow on, the massive amounts of spam, and the massive amount of money being drained from the rewards pool, that steemit will still become big and will explode in the near future. With the massive amount of people, they believe that the more mainstream it gets and the more people use it, the more STEEM will be worth and the better steemit will become.
So which category do you fall in?
My thoughts:
I personally think Steemit is an awesome platform with great opportunities. But I can see both scenarios happenings, either it being Steemit becoming huge or it falling flat or falling. There are truths to both sides of the argument. I agree that there are too many spammers on steemit and people are powering down too much and are draining the rewards pool, and there are too many people on here in general, but I can also very well see the price of STEEM exploding in the near future as well at the platform itself. I cannot definitively give a guess on which direction it is going, but as of now, only time will tell to be absolutely truthful.
There are all kinds of people on this platform, people who invest in it, people who drain it, people who do it for a side hobby, spammers, scammers, people looking for business/advertising opportunities, people looking to make a quick buck, and many others as well. Just keep that in mind.
I believe you have misunderstood some of the dynamics of how steemit works.
Powering down and cashing out is completely separate from the rewards pool. Powering down and cashing out could cause the price of STEEM to drop, if the supply is much bigger than the demand. That will cause STEEM price to drop.
But I don't believe that is directly linked to behavior of the reward pool.
It does in fact drain the rewards pool. Just che4ck out the rewards pool currently, and yes it does also cause STEEM to drop.
The community needs to grow to give it the depth to survive.
The platform needs to improve, not only its functionality, but also its structure. There are alot of developments which are not easily noticeable and takes time and energy to research and implement.
The NEW feed is just awash with so much content, to the point of unmanageable, from where I sit.
The way groups work is also far from ideal.
All that aside, it is the wild west of social blockchain. To me, that is appealing. I am enjoying Steem. I just would like time to mould myself into a better me. There are many inspirational stories and ideas that surface above the spam.
Good post that echoes many people's thoughts.
thanks!
My thoughts align well with your last paragraph especially. The "better me" factor. On that note, someone recommended content provided by @iamrosallie to me. Glad they did. You might like it too if not already a fan of hers.
Thank you for the suggestion. 😊
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there are lot more factors to be considerd
You never cease to amaze me with how well you put together these pieces at such a young age. You covered both sides of the argument and I can appreciate that. I, however, fall onto the side that thinks Steemit and the price of Steem are destined to rise over the extra year or so. I think it is important to limit the number of people coming in if the number grows too quickly. So far, I like everything I see though and I believe in the people of this community!
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Steemit make people happy. Upss... Sorry just kidding.
There is a 3rd group of users which I like to call the "wait and seers".
I agree that there are so many spammers that are annoying and drive some people away but I hope there will be a solution to that soon. Steemit is such a great community of many talented people that there is always something new to engage in with the users. I don't really have an opinion on Steemit growth except to say, it is a great unique opportunity for people to be involved with that I hope it continues to grow.
Thats the fun part of investing, its all speculation. We never know what the future holds, no body can predict it. It does look gloomy, but I'm optimistic. But even if its not as rosy as I believe it will be, I still diversity my investments from bonds and stocks to gold and crytocurrencies.
The only thing you can do is diversify.