Advertising on steem: Without it, steem is dead !
Advertising is for steem what oxygen is to life
We are at cross-roads with price of steem touching new lows of $0.92 per steem. This is a time for serious thought and introspection. Last year, steem touched record third highest market capitalization among all cryptocurrencies and behind only Bitcoin and Etherium. It was a new and exploding social platform and Internet marketers were frothing from their mouth thinking about the untapped marketing potential of steem blockchain.
However, things have gone only down-hill and we have not realized even 1% potential of this social platform and the gains we have made on steem are before us. Steem is not Bitcoin and never will be. Let's get pass this mental block. Just throw it out of the house. Let's not try to make it what it cannot become. Let's not bring smart media tokens for ICos on blogs. Let's stop all this madness and make steem what it can become. A revolutionaly social media platform that pays. It is high time. Let's bring in advertising.
Advertising on steem blockchain is esssential for survival of whole steem blockchain. That means steemit.com, busy.org, esteem, dtube and all other wonderful apps being designed to run on the steem blockchain need advertising for survival.
The obvious question that comes into your mind is why can't steem blockchain sustain itself ? It does provide people value in terms of quality content to read and money from creating that content. So, it does have value in it. Why need advertising then ? Why is it a pozi scheme without advertising ?
Lets try to answer these questions logically by getting into the shoes of a steem blogger. Steem is essentially a blogging platform and everyone on steem - be it a minnow or a whale is a blogger.
Me: Why are you on steem ?
Blogger : Money of course. And I also get to create, read and curate quality content.
Me: Who gives this money to you?
Blogger : Other bloggers of course. When they upvote my blog, I get paid.
Me: But, if other bloggers are giving me money, why doesn't their money get used up, the way it gets used up in real world?
Blogger :Because they don't give me their own money. Their upvoting leads to creation of new money which the blockchain awards me.
Me: So, you get money created out of thin air and feel it has value ?
Blogger : Umm. When you put it this way, it feels like a ponzi scheme ! With every upvote, more and more steem will be created. When so much steem gets created continuously, the already exisitng steem will loose value. To maintain the existing price level of steem, we need continuous influx of new users that are ready to convert their fiat to steem. If the platform stagnates and we have less new users or the existing whales cash out their steem. This platform is finished. My steem will be worth pennies. Due to such low prices of steem, mining it will be worthless. Miners will gradually close down their nodes. Transaction times will start to increase. Eventually, steem blockchain will slow down and come to a grinding halt.
Me: Don't loose heart. There is one way through which your steem may worth 20 times in few years !
Blogger : I get it. smiles. You mean Advertising !!
The above conversation gives us an idea how vital constant influx of fresh fiat into steem is and the only way to do it is through Advertising. It may appear to some as unnecessary intrusion or an issue that needs to be debated. However, it is a necessary evil that needs to be endured, accepted and befriended even. The question worth pondering is how to attract advertising in steem blockchain while keeping it less intrusive.
Even newspapers and blogs survive and manage to maintain their profitability due to Advertising. Advertising is also necessary for business to survive. Their have been very few business that have survived from sole word of mouth publicity and advertising on steem may give these businesses cost efficient avenue for attracting eyeballs.
If the above logic resounds with you, please upvote and resteem this article so that it reaches the steem core developers and they start giving this a serious thought. . Steem has a splendid future. It is so revolutionaly that it dwarfs all others.
Get the word out. Shout out loud.
Go steem !!
It is a scary thing that Steemit needs advertisement to survive. But the price of steem right now is due to btc rallying to a new high. Hopefully other alt coins will follow btc's lead.
You are right about the price drop. But, there is no reason to feel bad that steem needs advertising when newspapers and even Facebook does.
I don't think that steemit will advertise any time soon. Maybe you should create your own front end for the blockchain and use advertisement there.
The attraction for users could be that they regularly receive "advertisement awards" as a share of the ad revenue and based on the clicks they get on their content.
Depending on the overall looks and functionality, I'd find that very attractive.
I would if I could. First, I am not a tech. And Secondly, I do not under the privacy policy of steem blockchain. Can I just access from steem blockchain and put on advertising. Chain BB does something similar and I don't understand how legal this is. What prevents someone from really abusing the steem blockchain content for personal profit ?
that's a good question. I have no idea about the copyrights. I would guess that it is ok. Let's see what steemits terms of service have to say:
That was the closest that I could find. There should be an extra TOS for the blockchain. Do you know where to find it?
This post has quite detailed info about the content rights. As per this post, steemit has full rights to content posted through steemit. And yet we have 3rd party web apps like busy.org and chainBB blatantly using all content on steem (95% of that should have originated on steemit.com) blockchain. If this can be done, let's just make a blog, take all the steemit posts, put ads and rake it in.
wow, you're right. It says:
So, steemit doesn't get the property rights but just assumes that the content used from the blockchain does not have a copyright. That means, everything coming from the blockchain to steemit can be taken, published and sold elsewhere.
This makes steemit basically to a collaborative collector of non-copyright content. Quite awesome - if you know what to do with it.
You just have to separate the garbage from the pearls (and there are many here).
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This post has received a 0.28 % upvote from @drotto thanks to: @banjo.