STEEM without Steemit INC? Contingency plans?

in #steemit6 years ago (edited)

After reading this post by @ned, where he discloses the fact that apparently Steemit INC is in trouble, financially, and had to lay of 70% of its staff, I must say I'm a bit worried. I know @reggaemuffin has been putting some efforts into making the core project more of a community effort, but till today, it seems that most of the code base and an important part of the hosting are handled by this private company that apparently is in dire straights at the moment.

While chances are that STEEM will drop below $0.10 before it passes the magic $1.00 again, as most of the crypto market is in a slum right now and we likely haven't seen the bottom yet, it is likely that if Steemit INC doesn't run things by going bankrupt without any contingency plans for the platform, that STEEM shall be well above the $1.00 mark before spring next year.

If we assume for now things will be alright with the smaller (and obviously slower) version of Steemit INC, the fact remains that at this moment Steemit INC and its potential to go belly up appears to be a liability for the platform.

As such, I feel strongly that STEEM users, investors, witnesses , and importantly, everyone of us with VESTS to delegate or development skills to contribute need to put our heads together and start thinking contingency plans.

I haven't given this a massive amount of thought yet, and the big problem I fear is, nobody actually has at this moment, but we really should stick our heads together and start thinking what we need to actually plan for just in case Steemit INC ends up going belly up, hosting gets canceled and the code base gets orphaned. How do we keep the boat afloat first, and running again later?

Things I can come up from the top of my head that we should be looking at are:

  • We need developer tutorials for the code-base so contingency devs can be quickly up to speed if need be.
  • We really need to all support @reggaemuffin and @utopian-io in opening up the process and code in terms of making it considerably more of a community effort than it is today.
  • We need an independent non-profit to own stuff like domain names that can be a pain to get hold of if a private does belly up.
  • We need to really scale up JSON-RPC node decentralization.

Maybe some of the things here aren't actually needed and without a doubt others are missing, it is just a short list to help make you think about these things.

Let us all hope and pray that we won't ever need contingency plans and that Steemit INC will recover and start growing again in a few months when the crypto market picks up again, but at the same time, let us try to hedge our bets. I am pretty sure that the platorm at this moment in time would not be sufficiently prepared to stay afloat if Steemit INC was to go bankrupt overnight.

I believe the @utopian-io crew and @reggaemuffin could and should play a leading role in contingency planning, and I also believe they would need a lot of help, both in pledged hours and delegated SP, in order to create something close to a good contingency plan.

Personally I'd pledge three hours a week to any such project and I'dd delegate 300 SP, and I think with motivated project leads, so would many others. I have no doubt I'm not the only one who is scared witless at the moment by the prospect that Steemit INC might not make it through to the other side on this one without a contingency plan being in place for if the worst case scenario actually ends up playing out.

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I'd absolutely be willing to pledge some hours, don't have enough sp to want to delegate but since this is for survival basically I'll delegate whatever's needed. Would be surprised if whales didn't help out a ton though

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Right! Let's just get a dev team who receive delegations from users as compensation.

STeemit didn't exactly hit home runs last year ... the strength in the platform, an effective BC, and attratcing new young talent. Opportunity !

Even though I am pretty new to the community, I have been informed enough to realize that Steemit without Steemit Inc's full support is a bad strategy, that didn't need to show itself.

As I think has been said before, steemit.com is really just a proof of concept (hence it being forever in beta). There are already several other, arguably better, interfaces. The blockchain will live on regardless of the survival of Steemit, Inc or at least there's no reason to believe it wouldn't. The code is open source and the witnesses still get to decide on implementing changes.

I understand that in practice it is currently Steemit, Inc. driving most of the development for the moment and it is better to change that now vs. being forced to later but I don't think it's the end of the world even if Steemit, Inc. were to go away tomorrow (which I don't expect even with the current difficulties).

It’s not that I don’t agree with what you wanna say, but without the full potential guidance of Steemit Inc, Steemit (the platform) is running in uncharted territory. What you say about open source and decentralization without Steemit Inc can be counter argued with the proposition that open source and decentralization was what they had in mind when Steemit Inc started off to make this platform better. Whether they would’ve kept this promise in the long-term is what I cannot guarantee. But certainly their support would’ve been invaluable.

Right now, it’s up to Steemians like us to take matters into our hands in propagating a better and decentralized future of the ecosystem.

Yes it is. Not being in any way prepared for Steemit Inc to go bankrupt, though, seems like an even worse strategy.

while RC's are happening like they are - steemit on a downward spiral..people can't use the social platform as a ....social platform..

I see a small hole in this logic...

hahahahahahahaha

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