RE: Steem: The Bulls vs. The Bears
I would like to point out a few things.
We have had sub-tokens on the Steem-blockchain for a while and they are traded externally on openledger. @biophil created the pocket-token 8 months ago, if you don't have any you should learn about them. You can get some for free check if you check #pocket for the guy that runs a weekly improv contest to giving away pocket tokens. If you like the idea of SMTs you should thank @biophil for his development work on sub-token on this block-chain.
@biophil and @smooth have talked up the fact that this block-chain has some amazing features for transfer of tokens. All transactions are cleared within 3 mins, and the only cost to make transactions on this block-chain is to hold a little amount of in"vested" tokens.
etherum and bitcoin both charge you for transactions.
Steemit is only one of the gateways to the Steem-blockchain and therefore not solely responsible for the value of Steem(token).
Steem(the tradeable token) and the Steem-blockchain originally had value tied to Steemit but as the user base of the Steem-blockchain has grown we have had spin off companies arise that also give value to the Steem-blockchain.
Not all of that market cap is directly due to Steemit, there are other companies on the Steem-blockchain that increase the value of Steem without needing Steemit (busy.org, dtube, dporn, and the korean site all bring more customers to the block-chain).
As an overall I think Steemit as a company and an idea for blogging platform has failed.... for it to get to its roots of being a blogging company the rewards need to be stretched out more than 1 week and they need to kick all their competitors off the blockchain.
Blogs still have value 2 years later and should be rewarded for bring viewers then. Rewards should be paid out weekly for each upvote that is brought to an item on the blockchain and not be subject to a seven day period.
The current rewards structure suits a social media platform like facebook or a meme site where content only have value for a few days...
Until the rewards structure is changed we should be thinking about the Steem-blockchain as the next social media platform that will compete with facebook, youtube, and maybe paypal.
Good points. There are a few fundamental flaws and I wonder if only a Steemit 2 can fix them.
Since you are a shareholder in this blockchain --> What do you think about where the blockchain should head in direction?
Should Steemit work on fixing the rewards, buy out the other companies that own large stock in the blockchain(dmania, dtube, etc.), and make it a blog only block-chain?
Should we embrace the SMTs; the potential they have for bringing large communities to the blockchain, and stop pretending this is a blog only blockchain? ..... If we as vested users of this block-chain create hype about dtube and we can steal 30-50% of youtubes traffic imagine what that would do for the value of steem???
Do you think we should have a constitution on this blockchain that gives us a more clear direction and consensus as a group about what this blockchain is; what is allowed and where we are headed? <-- this might get rid of the whale wars drama....
very well written... I have a question with you about these other platforms that you mention... Can they be used completely separate with steemit? In other words, do the rules of steemit apply on those sites? For instance, no upvoting required... if that doesn't apply to those platforms, can someone on steemit flag those accounts and somehow take away your rewards? If so, then in a way they are not completely "free"... but if they are, then it is awesome!