Is Steemit Dying?

9 months ago
66 in steemit

"is it dead?"

In the crypto space, there are few questions more perplexing to me than this one. This is one of the most common, and naturally, the trollboxes have been asking if Steem is dead since its continued to play more chutes and not much ladders lately.

I've yet to understand what it means for a coin to 'die' beyond volume of trade disappearing.

Anyway...

If you can't look at these screencaps of Alexa metrics for steemit.com and see opportunity and potential, you probably shouldn't be making many business decisions and/or your ability to objectively consider incoming data is skewed by emotion.

Screenshot2016-09-2001.09.1722c0a.png

Yes, that number is +164k... meaning the site popularity has surpassed 164k other websites in the past three months.

Screenshot2016-09-2001.05.2565342.png

A little over 10 page views per user? with a 93% increase of daily page views per user? That's certainly not 'dead'. Over 13 minutes per user daily time on site? Good amount of attention coming in... and thats been a 52% increase.

As I said, I think any reports of a Steemit 'death' as of now is objectively false. For those who confuse price with success on a 6 month timeline: nothing I say will change that mentality. Very optimistic outlook from me, long term.

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68
  ·  9 months ago

Doing my bit for Steenit, Reading, commenting and posting, not making much but every penny helps :)

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65
  ·  9 months ago

It's all about the followers. Cultivate new ones and look after your old ones, I don't see anyone with 800 followers talking about how their posts fall short :)

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68
  ·  9 months ago

I always look after my followers I read when I can always leave comments, my followers are growing slowly :)

59
  ·  9 months ago

This further supports my impression that crypto prices are purely speculative, and completely disconnected from the actual long-term practicality of the particular coin. It is of course impossible to objectively determine the fair value for a coin, but I think Steem adds enough value to the crypto world to rival Bitcoin's valuation. Will we be seeing $68 Steem commensurate with that estimate anytime soon? I highly doubt it, but it isn't the most outlandish imagining I've come up with...

64
  ·  9 months ago

The big money payouts was probably not a good way to start this service.

68
  ·  9 months ago

Haha about a week in on Steemit I posted this: https://steemit.com/new/@prufarchy/steemit-obituaries-the-many-deaths-of-steemit

I expect about 92 more

66
  ·  9 months ago

Thank you. Yes, correct.

Further there's the app ecosystem. Nothing with such a large ecosystem has a valuation <$1B. I mean I suppose it could be "the first" but... I doubt it, strongly, which is why when SP went <$.50, I doubled down on it.

69
  ·  9 months ago

Keep it up, we are obviously plotting to take over the web, not dying!

62
  ·  9 months ago

It's rising in popularity but decreasing in value, so that could be a bit of hype playing off with the numbers and all. Still, there is potential to earn a lot of money here but the bigger payouts seem to be becoming rarer, competition is becoming a lot more fierce, it's becoming harder to be recognized. My account value has dropped from 1500 to 485 in the two months I've had it, will it be down to one cent tomorrow. Powering down seemed exciting until I realized how little it's becoming worth. Steemit is an incredible idea and I still believe in it, but this downtrend has to stop. As I've said in a previous post, whatever happened to those 30,000 dollar payouts..

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59
  ·  9 months ago

Reduced whale (full power) voting means high-payout posts are few and far between. Additionally, some whales have started downvoting high-payout posts. This is a good thing! While high payout posts are flashy, they in turn reduce everybody else's payout. By limiting the payout on even the most trendy posts, the rewards get spread out much more evenly, so even the mostly unnoticed posts receive a slightly larger share of the reward pool.

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31
  ·  9 months ago

If you have eyes you can see that the people making money off of Steemit will never be you. Don't quit your day job.

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66
  ·  9 months ago

Yerm come on dude.

Have a look in my wallet. Seriously go for it.

I'm nobody special, okay?

64
  ·  9 months ago

Looks good to me.

69
  ·  9 months ago

I don't think you can write it off yet. It's only a few months old, but has a lot of active users. It's still pretty small though. The price of Steem is a red herring. That will sort itself out if the number of users grows and it becomes more in demand. It only needs a few web celebrities to come on board to make the site go viral.

74
  ·  9 months ago

i hope not.. keep steemin folks!

64
  ·  9 months ago

I agree. I'm in for the long haul.

71
  ·  9 months ago

Well said, Blake. I was just discussing some of this last night in the chat. It's irrational to me how people claim steemit is dead or dying or that the price is way overvalued even now and it will go much lower because of X or Y feature (or lack thereof) on the site. To me, that's silly because those same people should have been 10 times as loud when the price was $5 and the site had far fewer features.

I get there's more to it than just the site functionality though. It's also important to factor in user adoption, the reputation of the site itself, the leadership, etc, etc.

Long term, I think this thing will have a lot of value. I'm hopeful, anyway.

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60
  ·  9 months ago

After years on slashdot, I can say, it is the popular trolling topic. I mean, FreeBSD, which is popular for "X is dying" meme has been doing that for what? 15+ years now, and is still going strong. I hope that Steem(it) does that whole "is dying" thing at least in similar fashion, or perhaps even better than FBSD. :->

65
  ·  9 months ago

Thats cooking the books.

You could also say that steem price has gone up 100% over three months (and youd probably be about right). Any comparison that uses pre jul-4 numbers and post is ignoring a very real trend.

I don't think steem or steemit is dead, but i do think that irrational optimism is as dangerous as irrational pessimism.

40
  ·  8 months ago

sorry but

40
  ·  8 months ago

Regardless of a high number of people visiting Steemit it is blatantly obvious that something is wrong with the Steemit concept. More people want to sell the currency than buy. If anything the high visitor count strengthens this idea. Just because the idea is popular and draws people doesn't mean that it can work.

Here is a 90 day look at the Steemit price -

Steemit price 90 days

I am not using emotion over logic. Actually, it is the complete opposite.

Have you considered what you are using?