Steem Long-Term? Where I Think We're Heading!steemCreated with Sketch.

in #busy5 years ago (edited)

STEEM long-term?

STEEM price goes up and down, up and down, and the people on the top remove thousands of dollars each day from the ecosystem through bid bot delegations and dumping the "profit". This isn't a bad thing if you think about... These people will slowly lose power over STEEM because they choose to cash out all their SP...

Steem at the moment is mainly supported by us, investors, content creators, bloggers, vloggers and Steemmonsters players we are the ones that buy STEEM and make the price go up... short-term this might be good, it allows one to create a community without much "interference". But this shouldn't be our long-term plan!

If this is our long-term plan we are no better than what Tone Vays says... a pyramid scheme! A pyramid scheme where the guys on the top earn the money of the new investors that come to the bottom of the pyramid. This shouldn't and MUST not be our long-term plan! What, in my opinion, should be our long-term plan is:

First, as I mentioned, the guys on the top of the pyramid will slowly cashout and lose the power they have over the pyramid, the pyramid will shift into more of a Parallelepiped, where there are no guys on the top... time and inflation will decentralize the ecosystem.

Second, this Parallelepiped is made of people, it's a community, and we need to start "selling" this community and pump the Parallelepiped with money! But how? Easy... People only have two things that we can sell... their attention and their data.

Here is the thing, Facebook and the social media giants earn huge amounts of money with our attention and our data, with our resources... We are literally giving out our "oil"(attention and data) for free to the oil company(social media), and the oil company will use that oil, refine it, categorize it, and sell it to the gas companies (ads companies and data companies), and we won't get any piece of the pie even though the oil was ours to begin with! This is incredibly stupid of us!

But I understand why they do this, not only because we allow them to, but also because it would be impossible for them to send a bank transfer corresponding to our piece of the pie. Facebook has 2 Billion users, imagine if Facebook did a bank transfer to those 2 Billion users! The madness, the FEES!! But crypto changes all of this, everyone can create a crypto wallet and get a piece of the profits fast and feeless.

Now, where am I going with this and why did I start by speaking about Steem... Well, we are now at a time where the community is big enough for us to take some ideas out of facebook and twitter.

Facebook earns mainly via two ways, we can apply these ways to Steem:

Ad revenue

Ad revenue, I think Steemit is already thinking about this, at least that's what I get from their "let's add ads and see what happens" idea. If they actually do what I think they are doing we might be seeing for the first time the whole Steem ecosystem supported by ad revenue, the first time in human history where we, as individuals, get rewarded for our attention by using social media!

After knowing that Steemit decided to add ads I turned off my adblocker. I expect them to continue the dumping for a while longer to allow the users to scoop up some STEEM and effectively decentralize the SP.

After we get the ecosystem decentralized enough I expect steemit to start buying STEEM from the market with their ad revenue. This will increase the value of all the STEEM, which effectively will reward people for using Steemit, a social media.

Tribes will play a major role in this ad revenue thing, tribes will increase their numbers with time (maybe some subreddit shilling would make this go faster), after reaching a good mass of people, ads should be implemented specifically for each tribe, these ads will flow into each tribe's token via STEEM, effectively pumping STEEM and their tokens.

Reddit has 330Million users, each user is valued at $0.30 by the company, while Facebook has more than 2 billion users and each of its users is valued at $7.37... And they don't get rewarded for their attention.

If we brought them to the Steem ecosystem and they realize that they get more money if they disable the ad block we might double or triple these numbers! Imagine Steem with 2 billion users, each pumping the price with their attention! Amazing...

Of course, this is not the only way to get some cash flow to the STEEM ecosystem, but the second way is harder and less "ethical". Data...

Data mining and selling

Data is very valuable nowadays, facebook earns a lot of money this way, selling our data, but Facebook has a nice UI and data mining software already designed to categorize and organize this data, steemit has no such feature.

What we like, what we don't like, our top searches, our conversations, where we went, if we liked going there, what we ate, we can't fart without facebook knowing...

We could add a new dapp that rewards volunteers(people would have a choice) with STEEM for their data (likes, dislikes, favorite places, etc...), this would do a great job at collecting Steemit users' data and at being sold, effectively pumping the price of STEEM with the revenue!

Not many people will like this last idea, not sure why to be honest... I would rather be rewarded for voluntarily giving out my data than to have some advanced AI, the likes the NSA might have, collecting my data and not giving me shit back. And at least this way I can get targeted ads that I might actually enjoy.

These are just ideas, I'm just brainstorming over here, but I do think this is the way to go long-term for the whole ecosystem! And these features would make a STEEM buyer short-term and long-term... However, not sure how this would go in terms of STEEM being classified as a security or utility, damn regulation is so unclear at the moment!

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Question of the day: What other ways can we increase the cash flow of the STEEM ecosystem?

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Quite thorough research and good analysis! I am sure Steem will rise again, but at the moment the learning curve is to hard to start steeming. If that’s solved, the sky is the limit

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Yup, those are also things that need to be solved... learning curve, rewards, circle jerking, the system will never be perfect because let's face it, we can't please everyone, but maybe pleasing the majority is achievable.

Thanks for reading m8 :D

I am powering my account up with the cheap steem as I do not see anything close to steem in terms of possible future network.

Indeed... maybe voice might fight it out with STEEM but if we look at it they are different, steem has no kyc while voice will have kyc, which makes it so steem is better for activists and people that want to stay anon like the 4chan and reddit users. But having KYC is also beneficial because it allows for better data mining out of the community and better revenue...

I'm thinking about buying some STEEM, but I need more money xD

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The tokenization of the layers of interface can also bring cash flow and lock it up. Steem and SP fuel the protocol so if the token economy is in demand, the price will be better as we learned with Ethereum and the ICO push. In the meantime, monetizing our own attention is a great path as wel!

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Yup, we still have a long way to go, and while doing all of this we need to try different systems of voting, curating, time, etc...etc... to see which one rewards the users and content creators better.

The system is in place, it's working, the only things we are changing right now are the different settings of the system.

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Very good article, what do you think of translating and also post in Portuguese, kisses

To be 100% honest, I have a harder time writing in Portuguese than I do writing in English even though I'm Portuguese, and I would need a separate account just for Portuguese posts, it's something that I might consider in the near future though.

When I first started out I thought about writing in Portuguese, but I decided not to because Portugal is such a small country with a small community, it was very stupid of me because I totally forgot about my Brazilian cousins and the huge community they have xD I now see that the Portuguese community is much bigger because of Brazil, which might make it a perfect community to expand to.

Cool, there were a lot of Brazilians here, but the vast majority disappeared after the price of STEEM began to plummet, so for now writing in Portuguese is really like a voice crying out in the desert, but I also hope for a brighter future where the community of Portuguese language grow back in Steemit.

Someone needs to convince the government that Steem has a low environmental impact and people need jobs, there's benefits to socializing and supporting each other, etc., etc... If a small fraction of all that funding that goes into quantitative easing was redirected into purchasing Steem the economy would flourish. (At least my economy, LOL) :D
!trdo

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