My Sentiment On The Future Of Steem

in #threespeak8 months ago (edited)

▶️ Watch on 3Speak

Shows cliff notes:
Crypto happens fast; pressure when the price pumps.

I unintentionally get quieter when things get pumping, working.

Everyone is just guessing. I am really good at getting on the right boat, just sometimes I get there a bit early.

I don't sweep a broken economy under the carpet.
Inflation is dragging us down when it should raise us.

You're going to piss off someone being yourself.

If you had a bunch of Steem power, you could be running contest daily, giving away free money via the inflation your steem power is allocated. It is the most powerful futuristic advertising vehicle on the planet.

I've made a lot of seemingly fucked up choices to get to where I am. And if I didn't do it exactly how I did it who knows where I'd have ended up. What seemingly in the moment may seem terrible is really life saying move muthfucka you almost to the promise land, just needing to go through the swamp to get there.

But if I didnt invest in Steem, there would be no 3speak, and there would be no several other projects I'm about to launch, either. So sometimes life digs in you a little to push you in the right direction.

Additional info that's not said in the show but relevant to the topic:

Steem is speculation drive, mostly, atm. So aside from: "Why would anyone buy Steem?" - The new EIP, if it makes content discovery better and brings in more people, does that necessarily mean a better price for Steem? Where is the value damnit?

At the core of Steem, the "intrinsic value" if you will, is resources credits (needed to do anything on Steem), voting power and influence (both for positive/or with free DVs, protector of reward pool). If I see value in Steem as an investor, it would be important to me to be able to play a role in protecting the reward pool via downvotes, because I could better defend my investment from pointless dilution via spam post. A single Steem token comes packed with all three of those things, while also being a good medium of exchange, as Steem is censorship resistance, ships in 3 seconds with no fees.

So why did I buy Steem? Speculation. Right now Steem does do a lot, Steemit has proved that. But what really gets me excited is thinking of all the possible front ends, with their own communities and token. Games will for close-knit communities and build their own economy with crypto, and so will just about every other niche will as well. Steem is scarce digital real estate. The people in this community are builders, this thing has taken orbit, and when you have as many smart minds as we have here, working towards the same goal of making Steem better, magic happens.

Inflation paid to authors is about 17 million STEEM per year. That's about 46k Steem hitting the market every day. For the price not to tank, we need people buying more then what is being sold, obviously. Note, 100% of the author rewards are not sold, but this isn't accounting inflation paid to witnesses.

If we chalk up author rewards, Steemit INC. selling of 800k a month that adds another 26kish bringing a steady 70k Steem to sell pressure each day on average. Of course, inflation goes down every year, and Steemit INC's stake isn't, and they could decide to change the amount their selling tomorrow, but that is what we have right now. I'd say most of the early adopters who were going to sell would have sold by now, a nice year + long bear market will test the strongest of hands.

All of the above happens without the need of Steem being used to curate content. SMTs can quickly fill that role, and we, as a community, should focus on driving solutions that can be built on Steem. However, Steems curation/author rewards were never meant to be the backbone of Steem value. The inflation pool for rewards is a trojan horse for ranking high in search engine results. We were (still are) a very high ranked site at one point, and you can thank that to the reward pool giving upvotes value. The reward pool is a cheat code to greatness, very genius design.
When Steem started, there wasn't a large marketing budget, and with lessons learned from Bitshares, there needed a way for Steem to go viral without it costing any money. Speculation drives investing (bitcoin, gold, etc.) and with the massive traffic came fomo of Steems possibilities. I believe if the reward pool is used right, to reward great content and that results in a higher ranking for Steem on search engines, then we can look at that 17mil Steem each year as a marketing/onboarding budget. Aside from the fact, the reward pool offers a genius way to distribute a currency (dpos being esp important here due to voting rights), it serves as a valuable way to onboard people who need to "try it before they buy it" when it comes to resource credits.
The bigger picture here is 1 billion people all needing a little bit of resource credits, spending 5-10$ to a lot themselves more posting/playing/doing rights on the steem blockchain. The bigger picture for Steem is 1 million people all buying 100-200$ worth of Steem to tip their favorite curators for as long as they wish, allocating their tiny fraction of inflation to the creators they love. The bigger picture for Steem is too big to actually picture, things get blurry, and my head starts to strain when I start pushing the limits of what Steem can do.
Distribution of Steem will always be vital, and for free is the best way to onboard people, the trade-off for free is a form of natural marketing. Without this reward pool, we would have no early speculation because we would have had no marketing budget. Dan Larmier and EOS raised 4 billion USD, ya bitshares played a role, but it was the massive viral success of Steem that attracted the investors.
Steems clever marketing ploy is our cheat code, and we should tweak the code right, so it propels us to the front of trending, not the trending on Steem, but on the internet. People come to Steem every day and produce content, content that will last on the internet forever, each little post bringing in compounding value over time. Content is priceless and will be exceedingly more valuable in our digital age.

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Steem is my passion and I couldn't agree more. I am moving towards Orca, something I am very happy about. Some was bought, much was rewarded, all is powered up. It is only recently that I took some STEEM and moved it to Steem-Engine to buy some other tokens on there.

We are an undiscovered gem. For close to two years, I wrote about Steem and what it offered. There were a lot of bards thrown at me like I was a Steemit cheerleaders or that I had no idea what I was talking about. Ironic that the naysayers seemed to die down of late as the development is appearing on a daily basis.

Your videos are always inspiring. They help people to keep on the beam about Steem.

We are all really going to see the result in another 6-12 months. At some point, the world is going to find out what Steem is all about.

Concerning the STEEM price, so far, the "naysayers" are right.

Of course I hope in the long run you and other optimists will be right.

Anyway, pointing out the problems as well, apart from the bright sides, is very important if you want to evaluate something objectively.

Greetings from one of these "naysayers" who - nevertheless - is still around, hoping for the best. :)

masta_ace from the No Limit Slack here.... just found this platform. Looking forward to listening to you here.

masta_ace! my man welcome to Steem!

Always appreciate these man. Keeps me fired up and I know it helps so many others on Steem as well.

I am still powering up every week, I'm not going anywhere....But I can see why people would give up. Especially when you hear the naysayers reminding you how well BTC is doing compared to Steem. LOL

I think it's the tribes man. The people...That keep me here. I haven't seen a more dedicated group of builders or entrepreneurs anywhere on any blockchain. We truly do have some of the best people online here.

Love the message about going through the swamp...And almost getting to that 'magic land'.....$1 Steem and we're going to be seeing a lot of attention back our way.

Stay the course folks...We're almost there :)

I am sure that as time goes by all of these flaws will be fixed. There is higher activity day after day and it's not price driven...
I am also very optimistic about steem. And you know why? Because I find it hard to believe that in other community projects people talk so much and give their best to improve the project/coin itself.

People around here care to fix everything...and I think this is remarkable. Eventually steem will shine...and I don't give a shit what others say

If I see value in Steem as an investor, it would be important to me to be able to play a role in protecting the reward pool via downvotes, because I could better defend my investment from pointless dilution via spam post.

I really hope people are on board with this logic. Not downvoting 'because that's not what I do' isn't good enough for me. Many people have been taking a sh1t in their own office for too long and it's up to the whole community to take part in the cleaning operation.

Wanna start a downvoting guild for people who don't use their downvoting mana? :3

I'm hoping @steemflagrewards will tweak what they have in place so that people optionally can sign up there and have their 2.5 freebies used each day.

A guild would be good if managed by some of the higher stakeholders i think, but I'll support/promote it for sure - taraz, boom, michaelb, flipstar, are all 30k+ accounts who have been open to getting their flag on thus far. is one SMT that is built on top of steem @theycallmedan and it is one example of the use case for steem and with that it gives value to the platform and this will continue as time goes by when new devs create dapps to solve future and current human problems and needs.

Steems clever marketing ploy is our cheat code, and we should tweak the code right, so it propels us to the front of trending, not the trending on Steem, but on the internet.

Yeah I believe the reward pool isn't being utilized properly to marking means to propel steem to trend of the social media, search engine and basically the internet at Large. We have a lot to attract people and thats why I think we have to protect the reward pool from spam and exactly the most vital part of this hardfork is making the free downvotes possible. In other words steem has gotten all the whole ingredients to succeed, we only need to recognise these and put them in the right perspective amazing content here @theycallmedan

I remember well how I first came across @dhenz account almost a year ago now

I was upvoting Roger Ver's post on Steemit and I saw you upvoted it too

Focused on $7.77 STEEM and Not going to check the scoreboard until the year end

I'm extremely bullish on STEEM like all the BUIDLers on STEEM like yourself Dan

Feels good reading this...
Reminds me the days I first saw @dhenz :)

Thank you

I always tell people to invest in people not in projects/DApps

Binance was $0.10 2 years ago and one guy made 400 X to his investors

We just need couple of more people like Dan to take our STEEM to Moon

I had an emotional moment when you spoke about life not being a sole and how important it is to build and commune with other, which is quite difficult for a person like me. I want to be responsible for myself and action and that only. It is easier to focus that way.

Coming back to steem. I think my primary obligation here is to remain active. Control what I can control and that's my creativity. Whatever changes that will come I will adapt to them. I hope the steem blockchain lives up to its potential. It will be in our best interest.

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Mostly agree with you, especially on the fact we need a functional content discovery chain to attract investors. Not guaranteed of course, but much better chance than without one.

Your metaphors are unbelievable. I never enjoyed content this much.

I'm really glad to see other people feel the same way as I do! I have been here since July 2016 and A LOT has changed.. I remember when Dan announced EOS, and I really felt like it was copying what STEEM already had the capabilities of doing..

I had mentioned that Steem had smart contract capability like EOS before EOS even was announced 3 years ago here..

I also talked about a "Future Digital World" all on the Steem blockchain 3 years ago here..

I always felt like Steem was the mainland, and with Steem-Engine and Tribes becoming a reality.. I really think this is the REAL beginning for us, and YES we are finally out of BETA!!

When Steem went sub 30 cents, I bought it up like crazy. Current price is good too, but I feel im over invested. However with btc at probably 13000 by the time I finish writing this, Steem is looking better and better. We are getting back into the mainstreem media. Just wait till those guys jump on steem.

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Always putting everything in perspective! Let's Build Baby!!

Ammm i hope that you are right and this will be the future of Steem , i realy belive on this platform and i agree with you on must of the stuff , now we just need to wait and see ...

We are constantly improving inch by inch on this Blockchain, and thats why Steem will shine one day.

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I don’t know who is the speaker for the top 10 coin.
Today I listen and read a post from a steemian that see something most of us do not see.
I see thing differently than you but the goal is the same.
While I was reading your post and listen I can feel genuinely there is something we all missing.
I wish to discover it myself cause you did your research and pumped up with 1mil SP.
We all need to do the searching soul fundamental of steem and
We will get there.
Great defining moment for all.
Keep on postin

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Today on steem the stars don't look bigger, but they do look brighter.

I totally agree, I really hope that, like most of us, we have a healthy platform, I think that when Steemit is at his best, he does not have any kind of competition, when the difficult moments are like the ones we have had in the past months, the ideal is to buy steem power and steem, it will grow within the platform and the savings will triple when the currency increases its value.

We will see. For example if we have super cool and usefull dapps, onboarding can be really fast.

There are only 1.2 Mill accounts. If on steem 20 to 50 mill accounts, we will see how it works.

Btw, facebook needs arround 8 years from 1 mill accounts to 1 bill accounts.

I can imagine some will hates whales ( because there want to be). But if the users on there Dapp, there are in there community ( less bad actors).

And the shared community, are in my opinion, if we have enough users one of the Keys. Because a Dapp can easy grow there users base with the Steem Users.

So there is no problem anymore. Because like you told, the RC are the really value.

And if more usecases for RC, holding Steem will be really usefull.

Only my opinion.

That is well said Sir..... We are at the right place with this segment of crypto business, relating to other crypto, STEEM is the best move in terms of realistic to be trusted %100. Then if we appreciate this, we need to put much effort to sustain it.

Really motivational for the person who is losing hope for alts and steem. I really believe in steem never panic just we need a stable btc to crash every record and I think this time steem is going to 10$ dream point finger crossed 🤞🏻. Thanks for motivating us sir we will keep these things in mind.

i did not invest a lot in crypto as i don't have a lot to invest :D but it is a strange feeling when i think that i could double that if i left it in bitcoin and not invest in steem. i know all that diversify your investments everything but when you invest 300$ there is no real room for it :D i should check, maybe i could buy some steem from the pocket change that i have in btc :)
from the first day i got here i liked the idea of opportunity to distribute steem to people you like, and the opportunity to get some from other people that like your content. maybe because people that welcomed me here had that mindset. when i listen to people speaking about steem opportunities i am just lost how "bad" steem does on the markets.

Lots of things is going on with the STEEM development right now. After launching the HF 21 a lot more good news is going throughout in steem. As we see Dtube has developed their own new version on STEEM with additional DTC token that's great. Hope for the best in coming days.

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This post earned a total payout of 49.904$ and 37.522$ worth of author reward which was liquified using @likwid. To learn more.

That sould be great future

Why not made a video going trough the introduceyourself tag and curate some newbies :)

Steemit inc. needs to take a line of credit backed by their STEEM reserves instead of dumping. But hey, whadoai know 🤷🏽‍♂️

I’m just a minnow.

steem is going to rock the crypto world again i have full hope again :D

I am powering up too steem almost daily.
The different app on steem bockchain will really make the difference.
HF21 is coming. I am sure the price is going to change.

@theycallmedan, In my opinion two points will become point of importance from your vision and those are:

Resource Credits

Every user no matter in which platform, want to access the platform effectively and want to make sure that they are consuming all the benefits. So, definitely to hold the benefits they have to hold the Steem Power too.

Community Empowerment

True vision of Decentralisation comes from the Communities because Decentralised governance will give freedom to communities to know the needs of their community and they can form self governance and inturn they can grow as a community more effectively. Stay blessed brother.

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So all this to say you are against the 50/50 rewards system on this HF21? Because I certainly agree,

Content is priceless and will be exceedingly more valuable in our digital age.

Without consistent content creators the platform will be as good as dead. No need to drive away the few that are striving to keep on creating as as little as they are currently getting Slashing their rewards with another 33% is only going to make this place worse. Unfortunately, it's a man eat man kind of society where the rich get richer and the poor get poorer.

You dont see the bigger picture, when rewards are 50/50 more and more people will invest in Steem to curate more, and then more curation= more author rewards.
We will have more people that are activly curating and that will make some blogs double in value.

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I see that as an assumption. What of curation efforts don't increase? That may as well mean losing the few active users we have remaining on the platform.

I'm currently in the works of setting up a steem giveaways. I want to include those outside as well to be able to take part but right now the entry for new people requires them to pay their way in or to mine new tokens to do so. If steem where to fix one thing I would hope it would be an easier barrier to entry so we can open the floodgates to new people.

I am a user and content creator in steem. I just love this platform and its my passion working in this. I am investing my time for a long term I will get a lot from it. Long term could be 5-10 years and I am not in hurry. Thanks @theycallmedan for nice vlog.

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i'm not new but i did not try to learn about steem, but this time i have 180 sp. i am learning alot with you touch

You are absolutely right. Steem looks not good now a days but we totally believe steem. Last year in these day steem price almost $4. Now steem price almose 42cent only. Everyone worry about steem price why price going to much down in one year. Team working on it. Hopefully steem price again rise up soon as soon. Smt is last way to steem price going up. You know smt date. Kindly tell me.?. We always tells others peoples about steem.

Steem back then was worse than it is right now but the price was higher. Proof that price doesn't reflect value.

You just planted 0.10 tree(s)!

Thanks to @fuadsm

We have planted already
8138.21 trees
out of 1,000,000

Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 21689.44
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku

Steem came a long long way since last year :)

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