Why is steemit stagnating, and does it matter?
View this post on Hive: Why is steemit stagnating, and does it matter?
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!
I think part of it is a lack of progress or perception of it and to be honest I feel that there isn't the level of work being done that there should be.
However all crypto's are correcting right now and I have seen this happen before. When price falls, interest falls. I bet other crypto communities are hashing over the same things we are.
The correction could last for another year. All the quick money people will have left. It is exactly what happened between 2014-2016 with BTC and Alts. But a lot of people are new and don't really realize it.
Very wise words....
I'm not planning on going anywhere, although TBH with steem, I'm looking at my curation rewards and my rewards from my little delegation (investor) experiments and thinking that's the way forwards... a balance of 'cynical' curation, delegation for return, posting and manual curation. Between them with a 3K or so Vest you actually get quite a decent return, even if the steem price is struggling.
Especially if you're more or less mortgage free, which hopefully I will be in a few days.
And of course steemmonsters - Got my first Legendary yesterday. Which was nice!
I'll have to check out Steem Monsters at some point when I have time....
Really good questions that I'd find helpful to have answers to.
But I notice accounts and activity haven't fallen below the levels that were happening before the sudden surge in the price of steem.
I think Steemit has been in stagnation for quite some time now. To me, it feels that we are stuck in a limbo - we are not moving forward towards fixing the obvious problems. And the latter kill motivation. This is a good reason why we see less and less activity.
I agree that there's little to motivate users to stay, especially not stay and engage!
Posts and Price, price and posts.
When the price levels off, check the posting activity and see if there's more happening than the last time this was the case (sept-Nov 2017).
Also, tell friends to join when the price levels off, their perception will be better after the 800% rise than a 90% fall 😁
I'm dimly aware that there's some sort of correlation between price and posting, I need to go back and check out some of the posts done on this, but I don't think this explains everything!
I think a good time to 'get in' might be just around the corner... I'm just waiting until the powerdowns and and transfers to exchanges slow down.
I agree that we could be close to buy-in time. Perhaps see what happens when SBD is at $1.
Personally i think there is a huge correlation between price and posts. Having done the @utopian-io stats for 8 months now, it's pretty easy to spot :)
Two reasons:
I don't buy the first answer as it's been stagnant since February!
The second point is fair enough!
Steem also change their policies and as they starts to collect the data or what.