Is Steemit Stagnating? A Few Thoughts on Yesterday's Witness Ramble
View this post on Hive: Is Steemit Stagnating? A Few Thoughts on Yesterday's Witness Ramble
I've moved to Hive, along with most other people, following Justin Sun's takeover of Steem in the Spring of 2020. I believe hive is a lot more decentralised than Steem!
Again, I think it's very important to differentiate between "Steemit" and "Steem." New user signup for "Steemit" was down 50% last month from the previous month. That's a sobering statistic. However, "Steem" transactions are enjoying a sustained peak since this time last year, even with cryptocurrency in general suffering some heart-stopping lows. "Steemit" is just an interface and it has many flaws that discourage many users, yet right now it's the interface with the highest public visibility. These flaws aren't being focused on at the moment, because the focus is that other, better interfaces may be coming that pull from the same "database," the Steem blockchain. If "Steemit" begins to decline as users find better, more satisfying interfaces, it won't affect either the previous work we've put into the blockchain or the future work we put into it. So I recommend just sitting tight for now, use the Steemit interface without worrying too much about current levels of user retention or activity. That being said, let me assure you this was of great concern for me, too, until I realized that the end goal is not to perfect "Steemit" as the ideal social media site, but to perfect the "Steem blockchain" as the ideal platform to base diverse social media sites on.
Thanks - I am sitting tight... it hadn't ocurred to me to measure steem blocktivity to other chains!
Well said.
Thanks for writing this up, I wasn't able to attend this time.
Personally I'm not worried about the 'stagnation' and see it more of a steady decline from a really hot period.
If price/action drops below October/November last year, then I would be a little concerned - and a buyer 😊
I'd be interested to see a comparison of percentage change of STEEM transactions vs other cryptos over the past 6 months.
My hypothesis would be that STEEM activity has dropped relatively less than other cryptos during the down-swing in prices.
I think that's what @rhondak was getting at above.
Yep. :-) I think we're holding pretty strong, but I would definitely love to see the documentation.
I couldn't see anyway to get changes in transactions over time for different blockchains on bloctivity....
One for the future maybe.
that would be an apple and oranges comparison as there isn't currently another crypto project like STEEM is.
That’s true as far as it goes, but it is a crypto project. My guess would be that you’ll see similar shapes to the declines across all cryptos including steem
Do you feel any better about it, having heard the ramble?
Let's just say that none of the responses did anything to convince me that faith in steem is anything other than faith.
Of all the witnesses @timcliff seems to have most of a grasp on just how much of a bubble we're in here on steem. As in this is very niche, and there's a long long way to go to mass adoption.
Having said that, it's still not going to stop me investing more when my flat sale goes through, hopefully sometime next week.
What can I say, I'm not entirely rational!
I laughed when I read your reply - and the edit!
I felt the responses were a bit inconclusive, and you've summed it up nicely with your niche comment. But I guess that what we are experiencing goes a bit with the territory of being early adopters.
I found this post by @dragosroua more helpful, and also posts about creating more of a middle-class with more dolphins by @whatsup and others.
Thanks, this is exactly what I need, for someone to sum up the main points for me because I'm
to lazy too read everythingin the wrong time zone