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RE: Steemit $500 per blog post reward limit, and the YouTube network effect campaign - August 24, 2016
You have explained one of the big flaws in Steemit and LariNomics. The idea behind giving out big payouts is to lure in new people but manages to attract a certain "type" of person... Maybe a future HARD FORK will implement some common sense into the economics of the platform. Just be patient... I have a feeling some changes are coming but the whales need to pull far enough ahead of everyone else before the platform becomes fair. #mytwocents
steemit is targeting users who already have bitcoin, as it's easy for those users to invest and get others in the cryptocurrency space to invest. Perhaps if steem ever implements a bridge to fiat without using bitcoin, that's when steemit will care more about targeting users outside of cryptocurrency.
This is not a viable business strategy, except very short-term, because it maxed out at 5,000 daily users a month ago. One social media user is worth about $100. Do the math.
For perspective, Coindesk has about 100,000 daily visitors... and an article today bumped AMP price by 20%.
Synereo is a year away from being something more than Proof of Concept from what I've seen. But if it does have something to show then I'll blog about it and if I earn from blogging about it, I'll buy some AMPs.