Steemit Winter Update: 2017 reflection, our Vision Statement and Mission, and a look forward

in steemit •  4 months ago

In this post, we want to bring you up to speed on what is happening inside Steemit, as well as give you our perspective on the successes (and failures) of the past year, let you know what we see as our mission going forward, and provide some insight into what we have planned.

Steemit’s Vision and Mission

Through our vision of empowering entrepreneurs to tokenize the internet, our primary roles in the Steem ecosystem are providing the community with software enhancements to the Steem blockchain, modular framework applications made up of components that can be leveraged by application developers and inspiration through these platforms to entrepreneurial end-users. We believe we must build in ways that create as many opportunities — and catalyze as many amazing Steem-based entrepreneurs and communities — as possible.

With more than a dozen self-sustaining user-oriented applications (such as Busy.org, D.Tube and Uptopian.io) already integrated, Steem has more widely used applications than any other blockchain. There are more tools coming to spur adoption of Steem much faster, such as Steem’s Smart Media Tokens and Steemit’s Communities. Because of these developments, as well as the active Witnesses, community-oriented developers, and the platform’s track record - we believe there will be more than 100,000 entrepreneurs of meaningful standing building businesses on Steem within five years. Our goal is to deliver the tools and interest that crystallizes this future — one rich with opportunity for people to build their business on Steem.

2017 a year of growth

2017 was a year of growth: growth of the applications building on the Steem platform, boon of its currency STEEM, expansion of the Steem community, and development of the Steemit organization. It is exciting to see that the price of STEEM has risen by more than 5000% to over $4.00 since the $0.0691 low back in March. Steem has attracted hundreds of thousands of new members, many applications have seen 1000%+ growth, and our portion of this ecosystem, steemit.com, attracts millions of unique active visitors each month.

2017: What we did right

Scaling

In 2017 (and early 2018), we dedicated massive resources to scaling — more than we had anticipated. This took a significant amount of time away from feature development, but we feel it was time well spent, because it lays the foundation for us to grow the platform significantly larger, in a way that is economically scalable for exchanges and developers.

TONS of new applications

We have seen massive growth in the number of third-party applications built on top of the Steem blockchain that are now flourishing. This includes Busy, DLive, DMania, DSound, DTube, Utopian.io, Vessel, and many more! We are very excited to see the innovation coming from our developer community, and we are looking forward to seeing a lot of new applications in the coming year.

Free image hosting

Free image hosting and an easy to use interface was added to steemit.com, so that users can quickly upload their images directly into the posting editor as they are creating their content.

Delegated Steem Power

The blockchain rules were updated to allow users to delegate Steem Power to one another. This has allowed large stakeholders to share their influence with other members of the community, so that their stake can be used by others to benefit the platform. As a result, entirely new businesses have been created that provide new opportunities for users to bootstrap their presence on Steem.

Multiple Beneficiaries

The change to allow multiple beneficiaries for a post/comment has provided a means for application developers to build on top of Steem in a way that provides a use-based revenue stream. This will be an essential feature going forward, as it will allow many new businesses to form on Steem.

Linear rewards

The change to a linear reward distribution has ensured that the impact of each user’s vote on the rewards pool is directly proportional to their Steem Power (i.e. their stake in the platform). Users now feel more empowered, and they can see the direct correlation between the amount of Steem Power they have and the strength of their vote.

Condenser improvements

Many improvements made to the condenser/steemit.com website make it more attractive and improve the user experience. This includes a new design, multi-language support, night mode, and many other enhancements. We have many more improvements in the works (such as notifications 2.0), but a lot of the larger improvements are on hold until after Hivemind and other back-end services are ready to support them. We are happy with the progress so far, but many more changes are planned for 2018.

Steem Developer Portal

The launch of the Steem Developer Portal has laid the foundation for a centralized set of documentation, tutorials, and onboarding materials for the Steem API and core client libraries. The portal will continue to evolve in 2018 (with better everything), as we expect this to be a critical tool for fulfilling our commitment to a quality development experience.

Steem software open source

We deeply value freedom and innovation, which is why we changed the Steem license to the MIT open-source license. This gives developers and entrepreneurs in the community the freedom to use the software we create for whatever they want, which we believe will maximize innovation and growth for the platform and ecosystem.

Steem Park

History was made on July 16, 2017, when the first public work exclusively funded by cryptocurrency was erected in the Herbert von King Park in Brooklyn, New York.

Improving signups

We have made multiple updates to our sign-up process, which will improve the onboarding experience for new users while preventing abuse by bad actors. There have been a few bumps, but the trend is strongly upward for security and overall experience. Signup and login continue to be a focus, and we are actively working on further improvements.

Updated whitepaper and bluepaper

A new whitepaper was released, which is now in sync with the current version of the blockchain. We also released a new “bluepaper” designed to be a helpful guide to our protocol that is comprehensible to the widest range of people.

Updated steem.io

The steem.io website is one of the main sources of information for the Steem blockchain and STEEM currency. This was updated to ensure it presented accurate and up-to-date information. It will continue to evolve in 2018.

SteemFest2

SteemFest2 was amazing! It was great to connect with so many great Steemians in person and discuss our plans and vision. We got a lot of valuable feedback from community members and are integrating many of the suggestions we received. The ability for so many individuals from across the world to come together and experience an event like this is something that makes Steem unique across the cryptocurrency ecosystem.

Expanded exchange listings

We are working hard to get STEEM listed on as many exchanges as possible. One example: STEEM was recently added to the fastest-growing cryptocurrency exchange, Binance.com.

Team restructure / hiring

We have spent a lot of time building an all-star team. As many of you know from working in organizations of your own, recruiting A+ people is not an easy process, and progress often has to slow before it can speed up again. We are privileged as an organization to afford A+ talent, and culturally we’ve never been more energetic and creative since setting our bar so high. We are thrilled to highlight several of our new talented team members in the “Steemit Team” section below.

Announcement of SMTs

SMTs are going to be one of the main tools that will allow entrepreneurs to interface with the Steem blockchain in a way that provides them with economic incentives for building their applications and improving the platform. SMTs will also provide a mechanism for communities to distribute token rewards to their members, with influence that is proportional to the distribution of their SMT.

2017: What we didn’t do right

Roadmap

We have not delivered on several of the items we included in our 2017 Roadmap. We were a young start-up that failed to know what we didn’t know. Growth of Steem surprised even us, and scaling required more resources than we had anticipated.

After gathering feedback from developers and entrepreneurs, we also made the difficult decision to switch focus mid-year to new projects like SMTs, which, while not in the roadmap, we are convinced will increase the value of the Steem blockchain to entrepreneurs by orders of magnitude.

We apologize for falling short of our stated objectives, but we believe our decisions will greatly enhance the success of our vision in the years to come.

Mobile

We did a lot of work on a mobile application, but it just isn’t where we want it to be. We want to put out the best blockchain-based, component-oriented, modularly tooled products in the world. After a year in operation, steemit.com and the other amazing Steem-based applications like D.Tube, Utopian.io, DLive, etc. are the only blockchain-based applications that ordinary people use. Right now, our mobile application just is not up to snuff. We’re not abandoning it, but we are not going to release it until we are satisfied that it meets our quality standards. It may take us some time to get this right and to ensure that, ultimately, the project is a success.

Communication

We have not done a good job of keeping the community informed of our work. We apologize for this. We know we need to improve on this, and we will be making many changes to our communication strategy in 2018.

Steemit Team

Going into 2018, we are critically focused on bolstering our core competencies in ways that enable building a sustainable and scalable organization that empowers our projects and the Steem community of users, developers, and entrepreneurs. Much of this goal begins by bringing in great people at the top, and we have assembled a world-class management team. With this team we continue to recruit more talent across product, engineering, ops, and advocacy.

Today, we are happy to introduce Harry Schmidt (@goldibex), formerly the Director of Engineering at The Information, and VP of Engineering with Casetext, as our CTO. Harry has taken on full accountability and responsibility for building the greatest engineering force possible, already having dramatically improved our engineering organization’s agility and ability to ship with regularity and precision. With that, we’ve continued to build out the engineering organization in a completely distributed manner. Distributed engineering is an underrated strategy for building companies with long-term missions, and thus far it has allowed us to recruit All-Star engineering talent no matter where they live in the world.

We also have a new CFO, Randy Baker, an industry veteran with experience serving as a CFO for a private space exploration company that counted SpaceX as one of its customers, as well as experience running his own successful start-ups.

Pon Kattera (@pkattera) is our Head of Design and Interim Head of Product. Pon has been hard at work, taking the design of steemit.com to the next level. He is working closely with Harry to ensure that our releases are developed with agility and turn out as beautiful as they are secure. (Little-known fact: Pon also attended SteemFest #1.)

Many of you may know Andrew Levine (@andrarchy), who has served as our Community Liaison. We introduce him now as our Director of Content. We have given him the authority — and the mandate — to improve our communication with the community and develop an effective content publication strategy.

It is also our pleasure to introduce Christi White as our Head of People. Christi brings a depth of experience building technology companies, and we’re thrilled with the impact she is making on our organization as we continue to build our all-star team across product, engineering, ops, and advocacy.

Our Board of Directors is more involved than ever. The Board comprises Gregory Wexler, a successful serial entrepreneur lending expertise gained from years spent in the industry; Ben (@theoretical), software architect of Steem and chief software architect of the Smart Media Tokens protocol, whose wisdom and insights are invaluable; Chris Padovano of Decentralized Legal, a pioneering legal expert in the blockchain world; and there’s me — Ned Scott, CEO of Steemit — privileged to work with such a diverse group of talents.

We have also hired several new blockchain developers, front-end developers to work on the condenser (steemit.com) website, as well as other static sites like steem.io and developers.steem.io, and back-end developers to work on our tools such as Jussi, Hivemind, and Steem Blockchain Data Services (SBDS). In addition, we are in the process of building out our content and advocacy teams.

Finally, we've developed new positions such as Developer Advocate, and have begun the process of creating an independent non-profit organization to support even more positions dedicated to supporting developers and entrepreneurs leveraging Steem and Smart Media Tokens.

What’s Coming in 2018

Right now, our top priorities are blockchain scalability (AppBase), Communities (Hivemind), effortless onboarding (sign up + Hardfork 20), and Smart Media Tokens (SMTs). So much progress has already been made, and we are working around the clock to deliver them as soon as we can.

We still can’t give a precise completion date because we recently reorganized our entire development process around agile methodology. The changes we’ve made will enable us to forecast more accurately how long it takes us to launch new features, but only after we’ve used the process for enough time.

Last year one of the mistakes we made was being far too precise in our roadmap. Priorities change, and timelines for developing software when dealing with disruptive technology is often difficult to predict. Going forward we will not be giving specific dates for changes that are not yet completed - to give ourselves the flexibility to shift priorities if necessary, and to take the time needed to deliver a quality product. We will do our best to keep you informed of our plans and priorities, so you know what to expect.

We know what big features Steemians want: communities, spam management, modular application components for simple and fast development, a great sign-up flow, Smart Media Tokens... and they want it yesterday. That’s where we’re focusing our attention. We have many other exciting projects planned too, and are reviewing all the suggestions made by the community for #roadmap2018. We look forward to updating you as these projects unfold.

Thank you so much for sticking with us through this volatile year. Steemit is nothing without you and the developers and entrepreneurs building Steem apps. We believe 2018 is going to be a benchmark year for Steem, and we are glad to have you with us on this wild ride

Ned and Team

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Thanks for the update here @ned. You have presented a lot of information that I have seen people asking for.

I also want to say thank you for owning up to the shortcomings of the 2017 roadmap. However i am still curious on an estimated priority of the mobile app.

If there exists some base code maybe it could be made open to see if the community wanted to develop it. Couldn't hurt.

As far as the predictions for the amount of business on the Steem blockchain that news is what drives me to keep pushing forward. Steem has only just begun

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Hi @netuoso, I thought the eSteem mobile app is already out there and being used. I personally am a bit more old fashioned and haven't really jumped onto the whole mobile bandwagon, but it sure is the way the internet use trend is going.

Are you referring to a different kind of mobile Steemit specific app?

P.S. Thank you @ned for keeping the community updated regarding the Steem milestones and roadmap ahead. We much appreciate it.

Best regards and full Steem ahead!

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Hi, @ebargains.

The eSteem app is created by an independent company that displays the Steem blockchain in their app. It has nothing to do with Steemit Inc. or the Steemit.com website, which is another company that also provides information from the Steem blockchain.

It can be a bit tricky to keep in mind that Steemit does not equal Steem, but the point is that Steemit also wants to create their own Steemit mobile app. This if great for us users, because more choices is always a good thing (in my opinion).

Best regards from @valth

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How beautiful that we have all data in public so any team could build an app!

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Yeah, that is amazing! We could keep the Steem blockchain going even if Steemit Inc. goes bankrupt or something else happens. Everyone who wants to create and use the blockchain.

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I think in Steemfest 2, it was revealed that Steemit wants to have their own mobile app.

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eSteem is ok, but has never been working well for me. I found that once I browsed out of my feed (the ones I follow), I'd never get back....

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Agreed, new app will come out soon for iOS and Android, stay tuned!

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I find it VERY interesting, that @ned and @steemitblog did not loose a single word about the current bandwidth problem, new users are experiencing on this platform. A solution for this is much needed! People can not even claim their rewards sometimes ...

In my opinion the main focus should lie on HF20 in order to improve the sign up process. We still have people who are waiting weeks for their confirmation email. And for the real good experience when starting on Steemit you may want to solve the current bandwidth problem too?!
The rest is hot air. Sorry.

I mean the communication and even the work done in summer and fall 2017 was great. I had great confidence in Steemit back then. But shortly after it became very very quiet. "Promised" and expected features were not delivered. But as it was written above, better not promise too much within a certain time-frame, because importance of development can change. I can understand that and I´m with you if you say: "we are not going to release it until we are satisfied that it meets our quality standards." Better make it right once, before you release a crappy product.

Blessed are to those who have enough bandwidth to not only write a comment but also post it to the blockchain. That´s real UE!

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Yeah, the Steem on-boarding and account creation process has to be revamped and improved. Waiting a week to get a confirmation e-mail to create an account is really archaic and hurts Steem's image as a modern blockchain based social media (and more) platform.

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Nice voting trail :D

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It's truly amazing how great the transparency system is on Steemit and how it makes the whole platform more win-win. Since it creates more real trust. And as you say people are incentivized to behave well since they have a reputation score they want to keep up! This creates way less spam and creates an overall better user experience. We have so much free time these days and taking 10 minutes to care about someone else by producing some value to them will be so rewarding for both sides! I want to see Steemit be the best company in the world when it comes to transparency and communication!

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I just want to say that the registration question is too disappointing. Waiting for a long time, so I support changing the registration process.

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Yeah especially if it wants to compete with other social media sites. To attract more people it needs to be easy to join.

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They don't need to compete with other social media platforms... People will naturally come on Steemit.

We try to compare to other platforms but it is not comparable yet.

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Absolutely agree!
Account creation and bandwidth are 2 pain in the ass problems for new steemians.

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Ive already come to terms with the fact that i cant do anythingon steem between 4 am and noon because i literally can only stare atthe recharge bar on steemd and wait. But new users may not understand or be as patient as i am.

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Patience is the key!
If you would have been from #deutsch Community I or someone else would have delegated some sp to you. Maybe there someone out there who does it for Canadians 😀
And of course you shouldn't power down all the way..
Good luck 👌

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Im okay, steemit helps with my depression so im here for the longhul my daughter is about to be born anyday. I plan on blogging her birthday.be recorded on the steemit blockchain forever and i can update everybody on her development. Im a cryptodad!

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This is why I filed with my state's attorney generals office to have them look into it. I made that decision after myself being thrown off line with a bandwidth problem and looking the issue over. What I found were people taking anywhere from powering up fifty bucks worth to get five minutes of bandwidth to people taking hundreds and waiting hours still to get back online. There is absolutely no other issue more pressing then fixing this one because you can't sell a product that you can't deliver, that about as realistic as it gets. I've read blog after blog of promised fixes going back for quite a while yet nothing gets done. They claim it's to control spam but spam isn't being controlled. Then they say it's a virus. Who knows what the problem really is but the bigger problem facing them is that you have to state to people right up front of any business venture what the price is going to be to engage, how much money gets you what amount of steam and then the bigger question to me is why do I even have to give up my steam to stay on the platform...why can't that be my accumulated power I earned by being on the platform to do with what I want to do with it. Yesterday I was out of bandwidth when I got on and today to so my next blog was going to be about people writing their attorney generals because short of that I don't see any other way this is going to get solved. It's just basic simple rational thought that you cannot sell a product that you cannot deliver, and you cannot sell a product blindside....you get this much product for this price and that has to also be known upfront. This is a great idea they have but it doesn't allow them to break the law(s). You make money by posting and responding but if you can't respond well....?

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Power up the steem you got 10 days ago from the SWC! Listen, you might complain, but it is how it is. Power up your winnings until you don't have any more bandwidth problem. You literally have to earn your space in these blocks ;p

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Well said. A trial/free-demo isn't a product. It's a sample. Plus I had no troubles with bandwidth ever. It's recommended to keep 50SP. Until you have that 50SP you have no product. Nobody should expect that for free as that would be a commie free lunch which would basically ruin the platform and we'd have to migrate to YOYOW/TRON or something on EOS.

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Hey flurgx,

First thank you Ned and Team.

  1. Nice point about difficulties in sign process... I know some people they are waiting more than 12 days now... Perhaps you just have to be a bit patient. We got used to things going quickly, but building something big is taking some undefined time.

  2. About bandwidth... My thought is maybe they are doing it for a reason - limited bandwidth - to avoid to fall while success is coming fast. Sometimes retaining the development is a good thing too. I am pretty sure they will improve this.

They might not tell that they are not going to release before quality standards matches... They just might not know when their baby will make its own first step... Every day they are learning, as I learn too using Steemit.

  1. I didn't read all comments yet but my idea is about SERVICES on Steemit. Maybe someone else will discuss this topic...

  2. How can we organize all covered topics in comments?

@ned - do you have an algorithm to classify information? I think something like "Building blocks" strategy to get the most of all these comments will be useful. We used this classification in the company where I was an intern during my GAP year. There I also discovered this book.

41SXHdBJ-+L._SX310_BO1,204,203,200_.jpg

I have an electronic version of this book, but due to copyright, I can't share it here on Steemit... Would be great if I could sell it here and a part of the price would be in the author reward pool.

Will continue to read other comments. The night is gonna be long... :)
Thank's for reading me ;)

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Just a small investment of SP will increase your bandwidth enough to comment and post all day long! Actually I thought that was intentional to encourage people to buy in.. Great idea in my opinion!

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exactly, tell them to invest like i did.

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That could be one way of seeing it. But I´m a friend of non-capitalistic structures. In capitalism you can only participate if you have a budget.
A small investment of how many SP do you think is enough? 20-25? That´s currently 80-100$ .. for some this is not a small investment at all .. And actually I think you need at least 40-50 SP
However I think Steemit should be accessible for everyone all the time .. and yes it is, partly ... It should be fully, all the time imo, without barrier called bandwidth .. Do you want people to stay on this platform because they have a good experience or to invest a little bit of money in order to participate? ... They´ll invest eventually if they have a good experience imo ..
I luckily had a very good experience from the beginning :) that´s why i´m here and that´s why i invested

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It's either require a small investment to participate in any meaningful manner or put up with endless spam. People are more likely to invest energy and time (make an attempt to offer value) if they're required to invest a little money.

Without anything to lose, there are essentially no risks that come with spamming the network. With something to lose, that money can go to waste if you get yourself flagged into a negative rep, making it less likely to happen.

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Every action on the platform requires bw
Follow, unfollow, Comment, vote, everything
This isnt about spaming. Its about user experience and capitalism (if you want people to invest before they can enjoy steemit in its full potential)

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It is a big problem to fight with spam. Above all because it hurts people who work hard making quality content and due to the lack of enough whales to support them, they go unnoticed. I encourage them to help create more whales that support to people and fight spam. You are doing a great job producing reports and useful content for everyone. Thanks for watching and making Steemit a healthy community.

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Dasgtdagsdhasd
As
Da
S
Das

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The "current bandwidth problem" is up to witnesses, not Steemit Inc. Witnesses can publish a higher block size to alleviate the issue at any time. For it's part, Steemit Inc. is doing its best to delegate SP to users running out of bandwidth.

Besides, as others point out, the solution is simple - power up some SP. Of course, it's a very poor experience for new users.

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I just want to say that registration problems are so damn disappointing, waiting a long time

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I'm pretty new on here, so not 100% clear on the issue with bandwidth. From what I can ascertain reading your comment and others in this thread, it sounds like if you just start with the 15 SP that's delegated when you first create an account, you somehow run out of enough SP to participate on the platform at some point. Is that correct?

I've not even been on here 2 weeks yet, and I actually did add $100 of STEEM that I powered up within just a few days of joining, so perhaps I would have encountered this problem had I not done that. As it is, I see on steemworld that I have about 75% of my voting power available right now, not really having done much upvoting today (a couple articles and maybe 3 comments). It says I'll be at 100% voting power in another 30 hours. I assume that means if I don't upvote anything else.

When I do upvote these last few days, I see that I either add .01 to someone or the vote counts but the amount given to them doesn't change at all. If I keep upvoting while my % voting power is low, will I eventually not be able to even post?

I'm sure this sounds like a very novice question, but yeah, total novice here. I have been reinvesting all my earnings in steem power in addition to the $100 I initially put in, but I'm wondering if I'll still run into problems before long. It's already a drag seeing a notice that I need to wait as much as 50 hours before I have my full SP again. I'm also wondering for some folks I'm planning to introduce to Steemit soon, who I doubt will be able to afford to invest anything in STEEM to get started, only reinvest earnings.

Does the amount of delegated SP at the start of an account not really set someone up to be able to stay on the platform if they never buy STEEM, only reinvest earnings by powering up? Is it just a matter of upvoting less often within a given day? Thanks in advance if you can take the time to answer this.

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What do you think will happen when @dan makes a competitor of steem on the eos blockchain?

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It took years from fanboy dreams to real product serving real-life uses.
We will see.

For now one shouldn't compete with someone promises. Promises are too cheap compared with real product.

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We welcome competition in the space. We're lonely :( ;)

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That's exactly what i wanted to say, talking about owning up to your mistakes. We look forward to a better community in 2018. I'm hoping the mobile app gets created quick enough.

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this is the post, here is the development of the page I like to be here in your community, feel like a small fish that does not know where to go, thank you very much for your comments, I read them and learned many things for myself useful. thanks friends

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I was hoping for that too, to help speed up the proccess. I want the mobile app out ASAP! I still love steemit! They answered almost all my questions. A+ to Steemit.

JRcrypto


Price Analysistt.png

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@netuoso I agree with your points and I definitely believe this is just the beginning of steemit and our road map to success is beginning. I believe with our two great developers. I believe in @ned and @dan and I believe with these two great minds we will definitely have the best success and I just love steemit in general and this update excites me. Even though 2017 was a rougher year 2018 is off to an amazing start thanks @ned and @dan for developing this amazing platform.

Image result for ned and dan steemit

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Though I'm still quite new here, I'll have to say that the time taken to get your password delivered is the greatest turnoff here and has to be worked on. Asides that I'm quite excited about joining this platform and I look forward to contributing positively to it.

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☆Thanks for the update here You have presented a lot of information that I have seen people asking for.
☆If there exists some base code maybe it could be made open to see if the community wanted to develop it. Couldn't hurt.
☆As far as the predictions for the amount of business on the Steem blockchain that news is what drives me to keep pushing forward. Steem has only just begun2018-02-22_11-27-25-260.jpg

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@netuoso, I've seen accounts that do not follow the steemit rules, is there any sanction for him ? how do we step to tell him ?

"The changes we’ve made will enable us to forecast more accurately how long it takes us to launch new features, but only after we’ve used the process for enough time."

This some fancy talk for ¯_(ツ)_/¯

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Haha, all software developers know how difficult it is to promise a timeline for a complex project but everyone doesn't have the liberty to say this.

But yes, if taking more time delivers a better product and setting artificial deadlines results in something nobody likes, then all power to TIME-TAKERS!!!

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Exactly, @svkrulze . With projects like this, "how long is a piece of string?" is apt

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Buen día Sr. Te invito a leer mi articulo publicado el día de ayer sobre la criptomoneda venezolana El Petro Dale Click Aqi!

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I agree @zacharius the changes have helped us I am a high-schooler who has gotten more of my fellow high-schoolers to see it is smarter was to make money and one listened and he loves steemit now more than YouTube. So thanks @ned for revolutionizing steemit and making it better. Also thanks for introducing SMT tokens if I can I will buy some.

Image result for thanks

Image result for ned steemit

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Put up a photo of @ned, get a @ned upvote.

It's in the whitepaper. It's a Proof Of Ego blockchain.

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thanks a million to @ned

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yes right zacharius

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This comment has received a 31.35 % upvote from @fredrikaa thanks to: @jassi.

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Hear hear. Well emoted! 30+ years of being in the tech industry and software dev - currently a VP of Tech for an enterprise SaaS firm and steem witness #78, and this single comment so well deservedly pinned by @dan is more apt, accurate, and voluminous in it's message than the entire mind numbing blur of buzz word bingo randomizer strings you posted it beneath.

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The whole post is just some fancy talk for ¯(ツ)
If it would have been talked I'd say: lots of warm air
but because it's written I rather say lots of randomly arranged letters

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I am very glad you are talking about this because I believe your voice is likely to be heard. I know others have talked about this in the past, but I don't see this being taken as seriously as I would like it to be.

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This is one of the best communications I have seen by any blockchain related organisation.

Though that's some bottom barrel bar. But still, any progress is good.

Thanks @ned for the update! This was really needed.

I think though that you could do a more detailed update like @dan does it for EOS regarding SMTs, this stuff is rally a game changer and warrants a more detailed status report...

Thank you so much for all your efforts! I think Steem will succeed!

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Awesome can't wait for these features

and they want it yesterday

Might I interest you in one of our fine time machines? xDTime Travel.png

Linear reward

I could be mistaken but here are my concerns.

The current system inevitably advantage those who engage in 100% self-upvote while under the n^2 reward curve those who hold the most SP under 1 account are the one advantaged.

Unless I'm missing something, this inevitably advantage those who engage in self upvote all the time and sooner or later these people will reap the greatest reward and end up being the majority "shareholders".

No policing of such behavior is currently possible because the policing is all at the cost of the "police". Policing becomes more difficult over time while the "abuse" remains risk free and doesn't increase in difficulty.

One other advantage of non linear reward is that it rewards those who concentrate their votes and thus incentivize the very best authors and posts.

The very best information is what really matters. Nobody wants the second best.

Also n^2 reward curve favors larger accounts and thus create some disincentives for selling delegation and votes.

...whales should be encouraged to vote on good content so that it attracts better content, so that their stake becomes more valuable.

...there are still people out there (like myself) trying to find and reward good content, but by doing that I will lose out and my stake will not grow as fast as that of a selfvoter. @felixxx [1]

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The current system inevitably advantage those who engage in 100% self-upvote while under the n^2 reward curve those who hold the most SP under 1 account are the one advantaged.

The unfair advantage of n^2 is the same if the SP is in a person’s one or several accounts all voting for the same content.

N^2 failed at highlighting content quality content too. It’s biased to the same group at the top, who aren’t or don’t want to be editors/curators of the trending page.

If you’re looking for ways of achieving better results in token-oriented sorting of content, then consider SMT Oracles (there’s a paper coming out soon and it’s mentioned in my blog) and Communities (see the spec and the Hivemind spec linked in OP).

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The unfair advantage of n^2 is the same if the SP is in a person’s one or several accounts all voting for the same content.

True, but at least such a whale would have to spread his Steem power on many different accounts, so that every single account had less steem power - also the ones executing the last upvotes in the row. Apart from that he would have to own quite some accounts to profit from the n^2 effect ...

I still think either a sigmoid reward curve or a curve which starts as n^2 and ends linear are at least worth to think about ...

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Thank you for your answer. I sincerely appreciate it. I also very much appreciate Steemit's overall performance and work. Short comings an challenges are and integral part of any projects.

Just to be clear, I know we are both trying to do our best. We both have a lot invested in its success.

N^2 failed at highlighting content quality content too. It’s biased to the same group at the top, who aren’t or don’t want to be editors/curators of the trending page.

It's bias toward those who have the most to lose or gain from the success of Steem while linear is bias toward those who self upvote the most at the expense of everyone else.

The original whitepaper states:

In order to realign incentives and discourage individuals from simply voting for themselves, money must be distributed in a nonlinear manner.

The reason why Steem was designed with nonlinear reward can be read in the whitepaper under the quote I just mentioned. Why nonlinear is better for content quality is also stated.

When self vote is the most profitable strategy, voting for quality content is always at the expense of the voters.

Original Whitepaper

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Yes I also wrote in the paper it “is an experiment...”, and we have learned much since then.

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I understand. We'll see how it goes from here.

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Hi @ned , thanks for bringing this answer and making a mention about SMT Oracles. I will search on this to know more about it.

Regards, @gold84

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I still think either a sigmoid reward curve or a curve which starts as n^2 and ends linear are at least worth to think about ...

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Upvoted for rationality.

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💪🏼🙌🏼💯

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Hi @teamsteem ! I hope we can finally get a way to make rewards as fair as possible, so that the way they are improved, helps for the entire ecosystem grow, and makes the value of the blockchain go up! There should be a way were the incentives are no longer self votes, but for the discovery of great content, as you do, every day!

Regards, @gold84

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you are an amazing curator @teamsteem ! I believe in karma!

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Upvoted for self-realization!

This is actually one of the best communications I have seen from SteemIt, Inc.

Looking forward to the rest 2018 and excited to hear you are adding some new people and skill sets to the team!

I really want to acknowledge that startups do need the flexibility to change the focus and switch directions. The key to getting buy-in from investors is communication.

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Lmao. So good

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Ahhhh @inertia we meat again!
What hoobris have you brought to me this time?

A meme of Ross? Really? 🙄 Ross is the best meme you can do?

Perhaps you would like to hear whats on the Menu of Logical Fallacies for today?

Or maybe we can go over the new Steem Communities Screenshots

oh by the way I made an instant steem account creation hotline (and email ) , I am just going to start making instant invites for people using steeminvite.com and postng about it to help pay for the costs, see how much I can do to help, I posted on that subreddit r/steemit and alredy someoen requested n intant invite, I believe they will pay meback the 0.1 steem or 30 cents when they make there first payouts, that way I can keep delegatingandpayingfor new accounts, I wonder how many I can help create until HF20 I bet I can do my part to fill in the potholes :D

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Holy Shit! keep us posted with the the instant invite and delegation. Im very interested in the ratio of people that wont pay back the 0.1 steem agaisnt the whole.

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It appears that the Ross meme went over your head.

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Very professional indeed. I am glad they kept up with scaling as we cannot afford a mis-step at this juncture. DTube, DSound, DMania and Steepshot - the applications are amazing. I am looking into IPFS technology and would gladly support servers to keep it functioning fluidly.

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Yea, there’s so much opportunity in so many places we can’t afford for the team not to grow!

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This is one of the best communications I have seen by any blockchain related organisation.

Though that's some bottom barrel bar. But still, any progress is good.

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fun comment, thanks

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No need to exaggerate. These messages very much and they are all monotonous. Do not praise yourself - no one will praise... Need more critics!!!!!!!!

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Wow so detailed, i use to be skid steemit might fold but with this communication, am stronger.

I look forward to building stronger bonds on steemit.

2018!!! Yay? Its steem to the moon!

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This is actually one of the best communications I have seen from SteemIt, Inc.

Here's the bar for achieving that _________________

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I'm just so happy for being here on steemit, with this I know steemit and the steemians has a bright future, thahanks @ned for the update

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I really enjoyed the post! this information is extremely valuable and a great read. I'm excited for the future of steam!

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Superman | Mosharof Karim | Sonia Hossain | Mabrur Rashid Bannah | Bangla
http://1ink.cc/gxiih

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STEEMIT is a COMpany with COMmynication inside))

I saw some tokens with zero communication with their community, and you know what? They fall, it's scam or developmen is in hell. STEEM will rock. It's only matter of time and betterment.

What @ned and team think about scammers here? People who rape reward pool. They use delegation for profit.

5 - 12 posts with nonsense per day with 300$ per post.

MAYBE BAN THEM?

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You realize no one can ban anyone from a block chain right?

You realize steemit.com and steemit, inc are just a company ON the block chain at this point just like all the other ones. Steemit is not the steem block chain and can't "ban" anything in that way.

You also realize that unless given delegation for free, leasing it is no way to "profit" at all, you will generally "lose" money.

@SirCork
Steem Witness #78
Founder @YouAreHOPE
Founder @SteemStarNetwork

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no banning! Steemit is as close to pure anarchy as ive ever seen. It is amazing to witness it working. If you start banning people you end up basically starting down the wrong path.. a very contentious one! I believe in consensus and the organic way of things finding their balance.. Despite the issues you mention, this IS working incredibly well!

Best to focus on your rewards and posts is my advice!

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yes a ban would require a hardfork, that requires witness votes, it would have to be snuck in, I doubt it would ever happen, even in extreme cases, and soon with will have communities which will allow you to block someone from flagging in your own subreddit syle 'commmuity" or so ivebeen lead to believe :D I hav no idea howthis would actually work :D

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Don't worry about not understanding how the communities will work, Ack, Neither does steemit.

That's the kind of post I wouldn't mind seeing get aggrandized by @misterdelegation.

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is there really a point to this comment?

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Should be upvoted by steemit so it stay visible for longer. That's what it mean.

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You have missed the post most probably, a pearl of the last month.

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It means he wouldn't mind if this post gets that $2000 upvote, instead of the comment on @dan's post about aggrandizement--a joke which I'm starting to believe will never get hold.

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Oh it's caught hold among basically anyone who has been here more than 5 minutes lol.

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Just for the upvote of course

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Hehe, I for one get your sense of humor Transisto. It's not for everyone, but neither is a Proof of Brain block chain, eh bud? :D

I think you continue to ignore the 1000 pound gorilla in the room, the rampant abuse on steem. You don't mention it, you don't talk of solutions to it. Why? Without addressing this issue, the rest seems like "self-aggrandisement" at worse, theatre at best. The incentives are so bad currently that Steem has begun to resemble a power centralisation scheme. It certainly isn't about quality posts and engagement. How can you simply ignore this and why aren't you doing anything about it?

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Hi @benjojo,

It seems you got a $11.0591 upvote from @beanz at the last minute before the payout. (22.25h) and this comment is to make everyone aware.

Please follow @abusereports for additional reports of potential reward pool abuse. Thank you.

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I've only seen you around in passing over the last year, but today, reading this page, I have become quite enamored of your positions which mirror my own in intent, message and tone.

@SirCork
Witness 78
and other stuff.

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Hi sircork, I really appreciate your words of encouragement. I've seen some of your engagement in passing too and I will certainly pay more attention from now on. I would like to learn more about your YouAreHope initiative for instance!

All the best and thanks :)

I am very excited to see things are growing. I have groups of excited potentials waiting to get on board. I have been asking for patience. Venezuela and Paraguay are growing whole towns at a time.

Developments: Drag and drop images to comments was huge for me. The new logo is catching on too. Keep up the good work!

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I was just thinking that someone should do a video on this... Awesome! You should consider making a step by step vlog on this for people to be able to follow along with the steps as well as additional ideas you might have. I wish people would think #Steemit through on something you mentioned in this video. We should all help each other be successful. Doing this not only reciprocates the support, but everyone becomes successful together. And even further, #Steemit then becomes more popular.

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I am a large investor and work tirelessly to bring more in. When all my steem was in one account, I was in the top 70 on steemwhales. Unfortunately, I don't do interviews or anything on-screen since Charlie Shrem when to jail over trumped up charges. I am however able to help in the background.

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Unfortunately, I don't do interviews or anything on-screen since Charlie Shrem when to jail over trumped up charges. I am however able to help in the background.

There is much wisdom in that.

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I would like to find out more about "Chris Padovano of Decentralized Legal, a pioneering legal expert in the blockchain world" and what may be changing / improving / worsening in the legal world. My accountant pulled me out of the fire with the IRS and then quit me because he heard the word "Bitcoin" in conversation.

I live outside the USSA, but I had been a long time stocks and options trader. Then the Irational Removalofincome Scammers had disagreed with my totals. Turns out I was right and they were wrong. I paid zero!

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United Soviet State of America?

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Your the greatest man and I will follow you up and be on your side.

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Why did you cash-out then? Also, what is your involvement with Paraguay and Venezuela, do you live in one of those? I am Uruguayan, living in Switzerland. Both friends and possible investors are turned off when they see the waiting time for onboarding, plus the no-app for mobiles.

A lot needs to be done if we want to kill FB and many other apps. I am trying to bring Venture Capital, but there is no professional Investor Pitch over here to use or adapt.

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I cashed out of bitcoin when it got slow (2016), bought enough dash for a masternode when the coin was at $6 - never cashed out. I got into Steem at a very low price and never cashed out. I just spread my millions over many different keys - as stated above. Don't put all your eggs in one basket.

I am so far outside the system that I am not sure if I still live on planet earth. I am investing in the people of Venezuela, supplying crypto to those who are supplying Venezuelans with crypto. (there is no other cash there). I am trying to get them to start using Steem instead of bitcoin because for over a year and a half BTC has been worthless for sending cross borders or even across the table at a restaurant. Paraguay because I know people who moved there and they took Steemit with them.

Fakebook and Scruetube are killing themselves - we need only be ready to accept those the are alienating. I would love to see Switzerland. Uruguay I have seen years ago, but I hear it is very expensive to live there.

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I am supporting some small minnows from Venezuela is not much what I can do, but I know a couple SBDs mean a whole week of food when steem is around 4-5 USD. Keep up the good work in that sense.

Well I went from the most expensive country in Latam to the most expensive worldwide, Switzerland! haha, fortunately enough I am really close to the Crypto Valley which helps me to be closer to many interesting projects!

I hope you liked Uruguay and drop me a line whenever you are in Switzerland, I would love to show you around Zurich.

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I need to talk to you, are you familiar with the work @YouAreHOPE Foundation has been doing in Venezuela with steemitizens on the ground there? Please do look, this is NOT a waste of your time. I am a VP of Technology for an enterprise SaaS firm, comfortable interrupting billionaires like my former employer Phil Hagermann for lunch break discussions, so I would not dip to wasting your time if I did not think it was bring a valuable opportunity to you for your consideration, with regards to Venezuela and beyond. Including a new project as of yet discussed in public that you might be quite keen on from the look of your positions above.

@SirCork
Witness #78
Founder @YouAreHOPE Foundation
Founder @SteemStarNework

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Drag and drop images to posts and comments was a great development!

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Doesn't everybody already just cut and paste images? I have never understood the image beef. You can literally ctrl-c / ctrl-v images from anywhere into a post or comment.

And it's been that way for at least the 9 months I've been here?

This puzzles me Doctor Pepper. Please enlighten me? Does my cut/paste easy button not work on macs or something?

winter is coming people!

Steemit has legitimately changed my life. I will be forever grateful.. I TELL EVERYONE. My world will never be the same. I mean this in the best way ever. I Have purpose. Thankyou @ned

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This is the kind of stuff that motivates us to put in the long hours. Thank you for being a part of our community.

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Hi @andrarchy ! And there are many people who feel like this in the platform. I just read about a person that is able to feed himself thanks to Steemit. How better can the Steem blockchain be?

Regards, @gold84

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Good thing about sleeping now is that is the time where the voting/bandwidth reloads :D

its 6 am... again....

lol

steem is new for me but i have to agree with you :)

maybe that is why i cant sleep :d

Steem for the win

Thank you for the update. I can't begin to say how much I appreciate seeing, and how much I would urge you to continue, being transparent with the community like you are in this post. It's such a unique experience, for everyone, to be the co-owners and co-creators of a community project liek STEEM. We all want it to be the best that it can be and we are all incentivized to contribute where we can. So please keep on giving people the feeling that they are on your team and with you on this crazy ride in this new blue ocean we call "crypto".

Cheers to 2018. I can't wait to kick ass with all of you.

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Yes I agree with you.

Something that makes Google for example lose out a lot and may make them lose the whole video side online is because of poor communication. All it would take from YouTube is some real care and they wouldn't lose millions of dollars in value by people moving away to other more caring platforms. All it takes is a little bit of care and it makes people feel valued. Don't want to see Steemit go down into that rabbit hole. Even when there is no exciting new announcement it's still good to show what you are working on. Showing a bit of a human side.

It's truly amazing how great the transparency system is on Steemit and how it makes the whole platform more win-win. Since it creates more real trust. And as you say people are incentivized to behave well since they have a reputation score they want to keep up! This creates way less spam and creates an overall better user experience. We have so much free time these days and taking 10 minutes to care about someone else by producing some value to them will be so rewarding for both sides! I want to see Steemit be the best company in the world when it comes to transparency and communication!

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I have seen some of your projects over here, and with entrepreneurial spirits like yourself and others, we can thrive.

Agreed; we need more communications like this from the top. Levin as PR is a good advance and we look forward to see positive results.

I have invested what I could over here, to me it means a lot, hence I feel an active part of this project, and I try to give my best to push the platform ahead. I have even starting paying of my own to promote my Twitter account where I post links to Steemit articles.

No mobile app and long waiting times are dragging us behind, we are the most undervalued Blockchain project according to #blocktivity. We have everything, most of all; our people!

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Without our people, this would be nothing. Your last sentence is the entire message.

Also - yeah, signups, mobile app and crappy 1990s interface need love.

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Indeed, also our people includes abusers, but well, let's try to stay positive.

Thanks for the detailed update, Ned and welcome to the new board members! Looks like a loaded 2018, but during Steemfest² we discovered that in the new world days have 25 hours, so I guess that'll help :-)

It'd be great if you could share a link to the new white paper.

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Awesome, Tim! Thanks. Now this one is from summer 2017. Thought there was an even newer version, in the statement it sounded like that.

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That's the original publish date. It's on github and up to date.

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OK cool, thanks for clarifying that Andrew!

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Always on the ball @timcliff!

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thank you, @timcliff and @papa-pepper for sharing this pdf file with us and I will share it with others too thanks for your help.

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Really, 25 hours?!?!?! That's totally gonna help!

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Haha - definitely :-)

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It's certainly been extremely valuable for me ;)

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Where can I get this 25 hour day upgrade you all have been talking about? hahaha

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Haha, I should create an app for that! Seems that I've found a niche :-)

Looking forward to an awesome year for STEEM and Steemit.com.
It was great meeting @ned and the Steemit team at @steemfest

Here's a look at STEEMPark for those who have not seen! I spent my first morning of 2018 there!

https://steemit.com/steempark/@jeffjagoe/visiting-steem-park-in-brooklyn-ny-an-epic-start-to-2018

Thanks very much for the update and roadmap ahead! I think with all the incredible amounts of money in and around Steemit we do need to be moving on with all these priorities. The quicker we get in there first the quicker we can build and strengthen the whole Steemit brand! Also really the mobile app to me is a priority, again with all the money to get some seriously good developers in we should be really concentrating on this.
I do look forward to communities and SMTs they will add so much, I just hope it won't be close to the end of the year as this industry is moving so fast we don't want other competition to just come in and do it before us.
And glad to see the communication will be improved as this really is soooo important for confidence in Steemit and investing in Steem.

First of all thanks so much for this detailed update with the attached video introduction.

It was so encouraging reading about the successes and I'm all in with both my time and my investments.

What I really liked though was that you humbly listed your failures and this humility will lead to greater success.

Please do keep the lines of communication more open and the Steem blockchian will continue to have a growing crowd of backers and pluggers!

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He forgot to mention that he, sneak, vandeberg and more are assholes who do not help people in need who work hard. If you want to have success your character needs to be good. You can get all assholes of the planet which is making money but the people with real vison, love, sight, respect you won't get. Not good for business. Fuck ned and steemit and fuck you too you greedy nazi fucks. No go and suck your cocks.

Hi @ned We at BeScouted together with thousands of photography industry freelancers are very thankful for what has already been done. We know how things sometimes go south and some plans are replaced or shifted by the others but this is how revolutions are done. Nothing is set in stone. We are waiting for the updates and improvements of course which sound very exiting and promising and continue to work on building photography community on Steem blockchain as we wait. Maybe next year we will be honorably mentioned next to Busy, Dtube, Dlive etc. and other outstanding apps that will form the core ow WEB 3.0

Steemit is improving my entire life from one meal a day to having atleast two meals a day. Thank you @ned for this opportunity. I was jobless, but now i nolonger knock on people's office doors for vacancies Steemit has done it for me.Here in Uganda East Africa,i and the entire steemit family are working so hard to promote steemit.Longlive @ned.

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yah mon, this is big deal and we can have mind be our currency

We surely appreciate the updates, thanks. My own feeling is that there is ample room for a paid support team now and the need is strong - currently the support is essentially a few witnesses helping in the chat system who could be doing more appropriate tasks for their level of expertise and awareness. Given the strong increase in the value of Steem there must surely be funds available for this, no?
Also, I wonder if there is any significant work being undertaken at SEO and exposure generation - I am working with one of the top companies for this currently in the UK and their approach is explosive and refreshingly transparent.. Is the plan to try to slow down the expansion of the system to allow time for the infrastructure to scale to support it?

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Great comment and I second.
I mostly notice "slowing down the expansion" and I understand all the reasons this exists, and we need some kind of expectation when this will resolve and be lifted I think.

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Comments on this issue would really help balance some minds in the community I think, yes.