RE: Here is the one thing that will make or break Steemit as a Ponzi or Killer App
Nice report. I hesitate to use the term Ponzi here. Remember, Ponzi had a product to sell and you had to buy in to participate. None of that is true here.
Do you think your thinking might be too conventional? Bitcoin doesn't sell ads yet has retained it's value. In order for Steemit to pay out, only Steem needs to have value and just like Bitcoin, Steem can be used in other apps. I know that they are developing a marketplace and there are a few people kicking around an idea for a children's version of Steemit, a little more like Facebook, including a gaming platform where kids can spend their SD (or whatever that token is named)
As for ad revenue, I don't see why the most popular Steemians haven't already invited advertizers to purchase a blurb on their post in Steem, kind of like what Let's Talk Bitcoin does with their LTB token.
Anyways, glad to see you here. I thought I was following you but apparently I wasn't. I am now.
bitcoin is not social media or content platform. internet money and potential hedge against fiat collapse. That's its killed app, that's its product.
Being a global currency is a product.
Perhaps steemit can compete there, but it has fierce competition.
As social media however it has a different market and thus needs a marketable product.
What does steemit sell?
@juansgalt Again, you are conflating Steem with Steemit. While I agree that Steem would have fierce competition if they hadn't built Steemit, Steem in itself is an innovative cryptocurrency: very quick block generation/verification, ability to sidechain, a deflationary 10:1 reverse split every 32,000,000 blocks (which is about three years), etc. It may have taken years longer for Steem to mature without Steemit for sure, but that doesn't mean Steemit needs to place ads everywhere to remain successful.
As long as Steem has value, Steemit will pay. I just think instead of using the tired, old, ad revenue sharing model in this new paradigm, we should focus on giving Steem more value by utilizing the currency with new killer apps like Steemit and let Steemit be what it is and not driven by kissing ass to corporations and begging for money from them. Why be another Google, or Facebook, or Youtube. Use Steem when building your apps to increase it's demand, raising it's value and benefiting everyone who uses Steem, including Steemit. Can anyone say Steemsino? Steembook? Steembazaar? Steemtube?
If Steemit starts ad revenue sharing, then the advertisers get the power and dictate the direction. It happens every time.
Shake the old paradigm and embrace the new. Steemit sells itself. What you should be asking is what app can we make to increase the demand for Steem.
does are interesting ideas. I think there's some good opportunities here for a good product.