What falls has wings -- Lee Sang

한글 버전은 다음 링크를 참조하세요. (korean version)

http://www.ddengle.com/bitcoinshare/1373422

I compiled few charts together from steemle.com into this one.

This chart summarizes what is happening on the steem network.

While the number of accounts keeps increasing linearly, the number of posts and comments are decreasing every day. The number of posts and comments per user account show a steeper downtrend as you can imagine.

Interestingly enough, the market capitalization of the steem network shows a similar pattern.

Is it just coincidence? 

If most new accounts are not fake accounts for sotta sybil attacks, we need to think more seriously about why this is happening.

To me it is obvious that a lot of new users are easily disappointed after short-term plays. They heard that someone made $10,000 with one single post, and heard about simple travel posts or make-up videos that made tens of thousands of dollars.  Their main motivation to post is money. They believed that if you post like you do on reddit or facebook, then you will get paid hundreds or thousands of dollars through a mysterious wealth redistribution mechanism. While it is very difficult for them to understand where the money comes from, who cares? They are under the impression that if you just write, you get paid. Their assumptions are supported every day on the front trending page.

However most normal and boring people don't have the sexy white bodies that are constantly topping the front page, jaw-dropping stories that make you feel like you just learned a secret, steemit api powered web engines, nor do they create anarcho-capitalist propaganda. They begin to get the impression that there is nothing much they can contribute here.  They feel feel an increasing gap between the rich and poor on steemit. Their voting power has zero meaning here. After already experiencing this sentiment toward the everyday outside world, they begin to feel equally marginalized by the community in steemit. 

You may think, “just let those dumb and uninteresting losers go.” But if that continues to happen, who will remain to read and appreciate that content?

I think the whales' strategy of creating icons of overnight success by concentrating their voting power on a small number of posts is failing. It does not add new value to the system and it destroys the new active user base.

Here are my suggestions to give wings back to the steem network.

Short Term Action Plan

 

• Stop powering down right now.
• Stop voting for yourself and other whales.
• Do not vote on a post if another whale has already voted on it.
• Do not vote more than 2 times a week for the same author.
• Spread out your voting power as much as you can.
• Don't vote based on your political beliefs or your technological preferences.
• Vote heavily on other blockchain platform and project announcements.
• If you don't know or are not sure, give(delegate) your voting power to someone with better knowledge and experience.
• Steemit, Inc needs to host more free giveaway events, contests, and challenges. Bring more active hobbyist and enthusiast groups and communities to the network.

We have already heard so many excuses for powering down such as server costs, hosting fees, dev costs, and the egg-nest story, etc... You guys already cashed out more than enough to cover those expenses for coming months or even years. You could live your life without power down cash outs up until 3 months ago.

The main goal of this short-term plan is to spread out voting power. It is far better to have 100 users to get paid $100 than one user get paid $10,000. We need a lot more of dolphins and minnows who enjoy the system.

Another precautionary suggestion: Let the market price drop. Don’t actively buy-back to maintain a price floor. Let the market price drop low enough to encourage new investors and whales to dive in.

Mid or Long Term Action Plan

 

• Develop a better reputation system based on true decentralized identity.
• Separate share ownership and curation power.
• Curation power should be governed by the reputation system, not by share ownership.
• Create a revenue stream utilizing the entire steem network power and value.

I am not sure these things currently have any realistic meaning for the steem network and it’s whales, but it is still in beta, isn’t it?

Also don't be afraid of voting on this post. You don't need to agree on everything I suggest for an upvote.

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For your reference, I previously proposed a steem power rental market to reduce the need to power down.

https://steemit.com/steemit/@atomrigs/proposal-steem-power-rental-market

Even I tried to promote the steem network with my own steem dollars for Pokemon Go community.

https://steemit.com/pokemon/@atomrigs/1st-steemit-pokemon-go-gym-contest-beat-me

#steemit #steem #kr