Do you still have trust in Steem?
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Trust in Steem?
Well yesterday I did swap some SCR with Steem. And the one with which I was doing the swap, asked me if I still have so much faith in Steem.
So do I?
Well it is hard to tell. To start we will have to put things in perspective. I do have much more voting power on Scorum then on Steem. The difference is huge. I had a lot of liquid SCR and was planning to sell some on the market. This would cost me some transaction costs and so fort.
Since I made it to the Diamond League in Steemmonsters, I did feel that it was needed to upgrade my collection and for sure my summoners.
So that was the reason for the swap.
So the biggest part of the Steem was used to for Steemmonsters, but I also powered up a little bit more than 70 Steem! This is only a little drop in the bucket towards Dolphins level! In the complete Steem Ocean it isn't even noticeable!
But to return to the question, do I still have hope in Steem?
Well yes I do for some part. There are lot of things going on. Both on the positive as on the negative side!
The negative things are known to all, so I will leave this out of the debate!
One of the things that I really see push Steem forward are the Dapps.
Steem still has a vivid community. People are trying to develop things and by doing this trying to add more added value to the Steem Blockchain.
The best example of this is Steemmonsters. This game rocks and is something that brings people out of the steem blockchain towards the steem blockchain. It is also something for which people are willing to purchase steem to power up their decks.
If there could be 2 or 3 more games like this, Steem will have a bright future.
What is needed to make Steem a success?
Well for start there need to be a solid base and community. A community which is willing to invest in Steem and willing to try things.
This requirement is already fully fulfilled.
We do have a blockchain available for us, which is solid. Yes it has flaws, but it can be considered as one of the more evolved blockchains out there!
The problem is that Steem needs business or things for which people are willing to purchase steem. Only this will lift the value of Steem. The blogging platform on itself will not make Steem big(ger).
There need to be things for which new people are willing to onboard the Steem train and things for which people are willing to purchase steem. The only way a coin can grow is that is are more buyers than sellers on the market!
If we would stick with only the blogging part, some people are willing to purchase steem because with more steem power, you will have a better ROI. But at a certain point people will stop buying and will try to recover their investments, so it could evolve into a situation in which there are more sellers than buyers.
What about you?
Do you still have faith in Steem?
And what do you think is necessary to make it a success?
And when do you consider it a success?
Would really like to hear your opinions!
Cheers,
Peter
I was talking to a WordPress blogging friend recently about Steemit, and convinced him to give it a shot, so I definitely still have faith!
You make an excellent point about Steemmonsters (and one of these days I plan to check it out), and how a few other Dapps like it could make a big difference.
At the moment, my Steemit account is worth around $430. Over about the same period of time (16 months, give or take), my WordPress blog made just barely $100 through Google AdSense. I consider that a win! 😊
It indeed is much easier to earn than with a wordpress blog. But to give it some value we also need people willing to buy steem. If there is nobody out there to which we can sell our earnings, that there would be no use case. Than the $100 from adsense would have more value!
Steemmonsters does create a market where people want steem of SBD to power up their decks. Which is something we really need.
If besides the blogging platform there would be more dapps like this, Steem could start it own crypto course within the crypto market, now it is just following the market!
Thanks for the comment.
Cheers,
Peter
If we can create an ecosystem within steem where we can get things we want without local currency, do we really need to worry about selling our earnings?
I do wave some faith in Steem, but yes, at the moment the weak point is as you point out. Why would I buy more STEEM?
I can't buy enough to make an appreciable difference in my daily experience at present, so until something comes up where that is the case, then there is a bit of stagnation in the works!
That is exact why I do see Steemmonsters as a blessing. For the moment it is still a drop of water on a very hot plate. But if other game designers do see that such things can be successful than we could have a real lift off!
Thanks for the comment.
I have some faith in steem, but I think it needs to be easier to purchase if we ever want it to be more widely adopted. Add that to having real things to purchase with steem - like you said, bringing businesses onboard - and we can have a bright future!
Yes having a less techinical way to get onboarded and get money into the steem ecosystem will help. I think developers and influencers will bring businesses on board. Developers to make the experience easy and useful, influencers to get people to take an interest in the platform. If that happens, the businesses will come.
I still have...but, honestly, we should ask this question in a less bearish moment and not now... The negativeness due to the market is so high that affects our impression on Steem...putting aside @ned and Steemit
I know that the timing for the question is maybe not the correct timing but I did feel it an interesting question regardless of the bear or bull market.
I do find it difficult the answer the question myself. It is more a gut feeling.
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What encourages me the most is that a strong community base has been created with the value and ecosystem in mind and having the financial reward side as a secondary goal in the short term. This will alleviate the pressure of value extracting projects coming and going which is helping distribution of SP to a wider and stronger base.
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It indeed does. But there need to be an extra incentive for people to buy steem, besides the curation power it does give you. Things like those will put steem in a better daylight, which is maybe something we need.
I am but at this moment I will not put more money in the platform.
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I also wont put in new fresh fiat money. But this was like investing free money, which I did consider a good investment. The biggest motivation to do this, was because of Steem Monsters!
I have trust in Scorum.
Me too! Without a doubt!
Things like steemonsters give me hope and hopefully we get more of them. Not too confident of the business side of things. Seems like they need a good finance guy to keep things grounded.
PredictEv could also give some added value. But I do guess that they slowed things down because of the more or less hibernation of the SMT development!
A financial wizard is indeed needed, just like a visionary to guide them to the right direction!