Part1: Why SteemIt is going to fail, if these issues are not addressed quickly, and what we can do to prevent it....

in steemit •  last year 

This isn't a flame fest against SteemIt...

To make the information more digestible and open it up to the most contributions through the commentary
I've split this post into a 3 part series

Here's how it will breakdown:
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part 1:
Introduction
My background,
Why I am making these statements
What the purpose of this post is
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part 2:
Terminology,
Observations and the Issues that they present
Analysis

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Part 3:
Present some suggestions for solutions,
Map out a plan
Present a call Action

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It's important to give a quick background on myself because these are my thoughts in a field I have expertise.


I have a Masters Degree in Compiler Design & Computer Graphics , at first I consulted for 14 years doing everything from working in a Research Lab as a programmer to being a temporary Director of Development of a mid-sized technology company.

After that I founded, grew and ran the day to day operations of my own businesses over 16 years going from 4 employees to 60 and dealing with over 3000 different businesses and independent contractors.

My long running businesses Included a manufacturing company, a retailer with 97,000 customers, a website with over 15,000 visitors a day, a development company, a crowd collaborated online game, and a software development company.

And because of of my mistakes with management related to cold hard facts (market economics and health issues) they are now someone else s assets. This freed me to pursue a passion, to distribute my hard to acquire learning by assisting business Owners and mentoring management and staff for other companies.

So, I've spent the last 4 years doing exactly that, performing Business Operations consulting for startups, transitions, reorganizations and revitalization, bringing my vast array of previous experience to help prevent the same perils and pitfalls that torpedoed good ideas by bad implementations I had seen in the past many times at other venues from happening at my clients....

In a nutshell my job is to spot things which will become big problems or are already occurring, and explain what is going to happen if it is not addressed and either suggest a solution or help them craft and execute one. This all happens with an eye on ROI....Yes it's all about the Doe Ray Me....

So now you have my background.

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So Why am I making these statements?

I have always donated some of my time for free in projects I think I can make some financial headway in.
I truly believe in the prove me approach, of sweat equality.
Essentially you can trust people more with skin in the game.

As such I am working more in the cryptocurrency field and ramping up a group with a multi-headed/shotgun approach to exploiting the technology/social/business/distributed processing revolution that is cryptocurrency.

This approach includes both investment in Altcoins for short and long term, and exploiting already available block-chain technology to bring a myriad of development projects to market.

So when I learned about Steem and SteemIT from one of @JerryBanfields youtube videos, I started to vet it. And the best way to vet it is to get involved with the community.

images_024.pngI decided it was a relatively above average investment
and convinced my group to add it to our fund as a long term asset in our portfolio, because of the dividends we could get by just farming out our steem power votes.

Let me just say I am not an expert in the technologies of the backend, not because I couldn't learn it. I just don't have the physical hours in the day to do that and get on to evaluating other things. So I defer to others with specific expertise to do that.

But in the past I was brought into look at big systems which were having problems, and without actually looking or knowing the code I have been able to point the development team or myself to where the problems had to rely because I understand the methodologies and relationships that had to be in play.
Essentially a Sherlock Holmes approach to ferreting out bugs.

Some businesses, entities listen to my advice and pay me well and succeed like Game Brain Electronics...
And other businesses don't value the free advice I give them, by not listening to it and pretty much fail, like the mess over at JaoPoker, the Pour house and the hundreds of small businesses who came to my companies with best idea since sliced bread and were not willing to do what it took to make the businesses fly for many reasons.

So essentially smart people see me as a skin doctor identifying those bad looking moles as precancerous and gets rid of it before it spreads and becomes life threatening.
Dumb ones deal with the consequences.

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What the purpose of this post is

After having used the SteemIt Platform for a month, I see some huge issues that will mean SteemIt the flagship of the Steem platform will fail eventually and not have a big upside 3 to 5 years from now. And why...

This is not open to debate and I'm not looking for rah-rah answers...

Im pointing this out as a way to actually support the platform by making it sound and viable for the future.

I want to earn money over a long term successful investment, instead of having to liquidate my position at the next bump up because the long term ROI is not there.

This is to push people towards getting solutions!

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On Thursday I will publish my findings with list of issues and my beliefs on how it would affect us all.

I will suggest other people to comment on other issues in the reply's to that posting.

On Monday my proposed solutions and plan of attack....

Please pass this post to others to read as it's important to get the community involved.
Sopass this forward to as many people as you can because it's going to take us all to move SteemIt to where it needs to be...

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all those that comment with a worthy info I will upvote with steem power...

I'm going to be honest here,

I wish you hadn't broken up the post into multiple parts. By doing so, this first post doesn't really have any weight or impact. There's really nothing to discuss accept for maybe the following:

The only thing I can really add at this point is that you appear to be looking at Steem from a purely financial aspect. Talking about it as an investment.

While I think you can certainly view it that way, I think Steem in general shouldn't be viewed as an investment, but rather an alternative. The power of a decentralized, blockchain based social platform is something that can revolutionize the way content creators host and share their content.

Already we're seeing big names from YouTube begin to trickle in, and part of my reason for moving over was because I didn't feel that my 1000 subscriber channel/community was safe on YouTube. I think the ability for these content creators and communities to move over will determine the success or failure of Steem.

But again, you didn't really lay out any info on why you think it'll fail, so It's almost a moot point discussing it until you do. I could be completely mis-interpreting your stance on the subject!

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take a look part 2 is up 3 days late

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No I am not looking at it as a merely financial instrument.

I was doing this to show where I was coming from and view points,,,,

And frankly to get a response from people like yourself, so you can truly understand why Im doing this.

I have been an and artist / independent consultant / entrepreneur and rejected big tie money to work as a straight employee for big corporations like Microsoft, CS First Bostom, Morgan Stanleu and others that I could have just taken the money.

I like building new things like communities, and organizations to solve problems.

Steemit is a platform to support a Community...

If the Platform cause problems the community does not grow....

But that's a spoiler for the next Post. which will be released this evening I still editing it...

It takes hours....emoticon_write_sly.jpg

But without good underpinnings

  ·  last year (edited)

I love Steem and think it's a worthy project, I do think the upvoting based on steem power and might of those to destroy reputation etc. isn't great and creates centralization of votes and power. If anything reputation should count more than wealth and giving equal footing to all steemians encourages use and growth. This monetary factor is creating a lot of hate and downvotes in a forum ment to unite.

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Looking forward to delving into the financial aspects and how Steem plans to continually pay posters without the funds from upvoters.

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part 2 is up
please read

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I am going to use some very simple business principles and numbers some that have been around a long time. Even ones from 100s of years before the internet...lol

But they are all common sense once you see what I am getting at.

post a pretty useful and you write with writing system is pretty good @richatvns

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part 2 is up...

Hmmm... I'm listening and trying to understand it further. I admire your experiences and want to learn from you. Sorry Im very far from your level of knowledge about all these so I can't contribute any questions or suggestions, but I'm here to listen and learn. Thank you!