3 outside-the-box ideas on how to stop the price of STEEM falling
Many of us in the community have been attempting to develop ideas on how to stop the price of Steem from falling, whilst preserving the integrity of the site. This eliminates the possibly of any type of advertisements being utilised on the site, as that would only serve to cheapen the platform we have all come to love.
But, with the price of STEEM continuously dropping with no signs of a recovery in sight, something must be done to stop the bleeding. I have been thinking about this a lot and I have came up with 3 potential ideas that could serve to prevent the price of STEEM dropping any further, as well as potentially improving the platform and creating new ways for users to communicate and come together.
Steemit Lottery
An official Steemit lottery could help to stop the price of Steem from falling if executed correctly. It would have to be an integrated part of the site, rather than a user profile requesting upvotes with a chance to win the payout.
There could be an active tab, or perhaps a selection in the drop down menu, which allows you to purchase a ticket worth 1 STEEM, giving you the opportunity to win the draw at the end of the week. Users would be allowed to purchase as many tickets as they desired, increasing their chances of winning.
The catch is, all tickets must be bought using STEEM. However, the payout, which will be the entire amount of STEEM spent on tickets, will be paid to the winner in STEEM POWER
This could be helpful for the value of STEEM because it would ensure that more of the currency is being invested into the site rather than withdrawn and sold.
Steemit Poker
Another idea would be to have a poker client, where users use STEEM to bet against one another. All deposits to the poker client would have to be made using STEEM, and withdrawals from the client back into Steemit, would be divided into %50 STEEM and %50 STEEM POWER. If this attracted enough people, this would increase the amount of STEEM being invested into the site big time.
It would not necessarily have to be poker, it could be pool, or any other game that users could enjoy playing against one another for a little STEEM.
Investor rewards
My final idea involves users being rewarded for powering up "x" amount of STEEM, or purchasing "x" amount of STEEM using the Steemit platform. This would encourage users to invest in the site which could not only stop the price of STEEM from falling, but make it increase.
A few potential rewards could be;
Decreased rate of voting power depletion
Increased frequency of posting before the payout is affected
Increased number of tags per post
Boost in promotion efficiency. For example, someone who has purchased or powered up "x" amount of STEEM in the past month could spend 10 SBD on promotion, but their post would show up on the list as if they had paid 20.
These are just a few ideas, there are plenty more incentives that, if applied correctly, could not be abused and would encourage people to power up and invest in STEEM.
What do you think of these ideas? If you think they could be helpful, then help me get the word out about them and let's see if we can't bring at least one into fruition.
I like the lottery but I think it should be a lottery based on activity(voting commenting posting ) That's what we really want.
This made me think of a variation of your last one. What if when you post you have an option to buy a vote. You invest steem (like promotion) and you get a strong vote, like a $ 1 vote to start you off. It actually has the impact of turning $1of steem into steem dollars steem and steem power. But people might use it to hope to start some momentum on a post.
Well if people aren't paying 1 STEEM for their chance to win, where is the money for the winner coming from?
I do very much like the sound of your iteration on my idea. I think I would probably make use of that when posting.
A new account would need to be seeded by the devs. So out of steemit.
Well I was thinking of a way to turn STEEM directly into STEEM POWER so as to decrease the amount being sold, but your idea would have the same result just taking a different route to get there.
I want to kill three birds with one stone.
These ideas would certainly help to some kind of extent.
Yes. I wouldn't expect one adjustment to fix all the problems, but if a number of ideas were implemented, it could go a long way towards getting the price of STEEM back to where it belongs.