RE: Will Facebook kill Steem overnight?
I'm not sure what FB coin will be used for exactly I assume purchasing ads space, goods from retailers, promoting content and paying publishers. I highly doubt they would be rewarding every person on the platform with the coin and for the most part users won't even know about it, may just be a faster payment method to what they currently have for the services they currently have
To rapidly change their business model to what steem is doing, I really don't see that happening. Yes they can hire the best engineers and create an awesome project and who knows it could help money flow out of facebook into the greater crypto space, we dont know.
I just don't see the average facebook user benefitting from the change, Facebook has always been an advertiser first platform not a user first.
No shit Sherlock. Facebook has two billion users. Paying them ten cents a day on average would cause Facebook to bleed 200 million dollars a day. That would translate into 7.3 billion in lost revenue per year. Per user, 10 cents a day would be pretty much meaningless. Make it a dollar, and you'd be looking at 73 billion a year and a total annihilation of Facebook as a profitable business.
No, because users can get paid for clicking ads, and this could be used to funnel money into content by monetizing likes or backing the likes with real money. In other words yes the advertiser money in Facebook is plenty to monetize user content and also to filter the low quality content out.
I don't think we should assume Facebook won't do it merely because they haven't done it in the past. If we look at Amazon we can see Amazon used to be a book store online and look at them now.
That money cannot be significant to any degree. The value of a single person clicking an ad is extremely low.
We don't know how much the value will be in the future. You are assuming the value is static? We could say the same about Steem too.
The value is a simple fact of how much it returns. One ad click will always be insignificant squared.
Posted using Partiko Android
You don't know the value of human attention? It's the most valuable thing humans have to offer.
The ads can make as much money as they produce sales. But it's not just selling products. People want attention for many many reasons as we can see Instagram is completely powered by that.
No it's not. The ads can't make as much money as they produce in sales. Simple math. Ultimately, I could name hundreds of things that humans can offer that are endlessly more valuable than attention.
Posted using Partiko Android
The revenue from ads isn't going to end up in users pockets, it would ruin the revenue stream. You talk about backing likes with real money as that would return any revenue or it wouldn't Bleed them dry.
Posted using Partiko Android
Just because you don't want something to happen it doesn't mean it can't happen. You speak with such certainty as if you either don't want Facebook to do it (which I understand) or you have inside info.
Facebook will get money from the ratio in the same way Youtube does. In fact they'd get even more money because more people would use the platform, click the ads, create content etc. It's kind of like if you say "if you give people more of their own money by lowering taxes, it will bankrupt the government".
No, I speak from a logical standpoint. The revenue stream is diverged and eventually it will not be sustainable and bankrupt the company. And yes, if you lowered taxes (if it wasn't already bankrupt) it would bankrupt the government. No revenue. How can you not understand simple math:
Revenue comes from selling ads, giving revenue away for no returns simply to get everyone to join is nonsense and let's sat that eventually everyone joins Facebook, what then? What is the purpose of giving money away for likes and shares or status updates? Incentives for more likes and status updates with the hope of clicking on ads? How silly are you, do you realize that the miniscule amount that one click generates isn't even a cent of a cent of a cent of a cent, and that's IF they clicked on an ad.
Posted using Partiko Android
Take Instagram for example? The model for Instagram isn't simply to sell ads. Instagram is about influence and influencers. It's about the attention economy. There is a scarce amount of human attention in the market. In order for there to be accounts with millions of followers there has to be a way for those accounts to get attention.
Right there you have all the market dynamics necessary to make plenty of money without having to use traditional ad models. What you're talking about is traditional revenue generating business models. Instagram isn't the traditional model and neither is Facebook or Amazon.
I admit you can make a case that currently the Facebook like economy which is a market of it's own, is currently not using a currency which people are valuing in USD. While Steem has the same upvote economy which is using a currency people value in USD.
If Facebook has a stable token and it's more stable than the Steem Dollar this changes things. Suddenly Facebook at any time could decide to integrate this token into Instagram, Facebook, or WhatsApp. This token alone would potentially kill Steem depending on how Facebook chooses to integrate it.
Facebook could choose to for example pay the user to watch ads or interact with certain accounts. The money would come from accounts which want more attention from users. Facebook could take a small cut of the profit, say 20%, and the 80% goes to the users. So there is no reason to believe Facebook would somehow lose money.
We see the model already on Coinbase with Coinbase Earn. When you watch a video and answer some quiz questions you earn tokens. This model scales, and Instagram could integrate it.
Who said it's about getting clicks? You did. I didn't.
To watch a video is worth more than a click. A click obviously has some value measured in some microtransaction, but to watch a video also has value. To watch a video and learn (pass a quiz) has much more value than to just watch a video, and to do some action such as to re-post something has as much value as your account is worth.
Just because you're not creative enough to figure out how many markets can be formed using a token on Facebook infrastructure it does not mean Facebook employees aren't creative enough to know what they have.
Steem made the mistake of not knowing what we have. And now we are in a position where the value of our tokens decreases continuously.
You think that the revenue stream is irrelevant, nothing more needs to be said. So yeah, who said anything about the revenue of Facebook, lol.
Posted using Partiko Android
It has absolutely nothing to do with what I want, but nice projection, Mrs."will steem get killed/nofud".
Posted using Partiko Android
I don't make posts based on what I want to happen. I'm looking at data. Look at the current trajectory of the Steem price to BTC ratio. BTC is going up, other alt tokens are going up, but Steem consistently is going down.
So until the data says something different my post is justified by the data and not by emotions.
What data? Lol?
Posted using Partiko Android
Fear=O no look at the price of steem
Uncertainty =O no will steem's price go up anytime soonest
Doubt=O no will we Survive Facebook
Ridiculous
Posted using Partiko Android