Is it gameover for Steemit & Can it ever make a come back? Im worried
Hello, i hope everyone is doing well on this rainy afternoon. I have hit a brick wall with Steemit/STEEM and im in 3 minds weather to STEEM ON ta fook, power down and post every few days are just jack in the lot are move onto another chapter and find something else to fill my spare time.
I am sure we have all been there and have thought to ourselves at one point are another, 'Whats the point?'. Let me take you back to 2-3 weeks ago when i was living in my bubble as i normally do, everything was going great. My personal account does not get as much comments as it used to but i still get a few so i feel im winning. CryptoSicko is doing very well, currently sitting with a 40k SP voting wallet and giving members 155% ROI for their delegations while still make a few STEEM for myself. Precious is going fantastic, offering just over 200% ROI to members with me and the other 3 horsemen gearing up for MR4 and the STEEM round. Things could not be going better, im building up 2 accounts with SP for when STEEM hits $2-3 during the next bullrun and everything runs almost like clockwork. I like living in my bubble, it's comfortable.
But then.........
I was looking at Precious a few weeks back and playing about with an excel sheet and some figures and noticed she could easily support a Platinum 5000SP level and drop in terms of ROI by 10-15% keeping mind she's is currently inflated by about 25%. Anyways, i put the idea forward to the other 3 horsemen that help to run Precious, 2 YES and 1 NO. We put it to a community vote as its the community bot and about 12 hours before the voting finished. The 2 YES's and 1 NO turned into 2 NO's and 1 MAYBE so i made a quick post from ssg-community the let everyone know that the operators were not ready to add another level. Made me look like a dick and even worse i know that Precious can support a 5000SP level. Easy!! Mark these words when i say that there will never be a better time than now to add a platinum level. Precious currently has around 75 members and on average 37 post day. This is why we have an inflation of 25% cause we need to inflate everyone's upvote so that we are not wasting any voting power. Voting Power = Money !! If Steemit makes a come back and Precious is doing an average of 50 members per day, ROI drops 20% and adding a new level will look impossible. The vote result ended with about 20 yes's and 1-2 nos btw.
So to sum up on that, this really bummed me out. I know she take it and i really wanted to help to get Precious to 200k SP. I feel like she is being held back. If we are not moving forward and growing, what are we doing? Im not motivated.
Then the big one
This week i seen a post titled 'STEEMIT 2.0, The death of Steemit' so i checked it out and what i got from it quickly was that they plan to move Steemit from STEEM to EOS. So that's shit cause i know there will be no solid information out there about this cause it's crypto and crypto land is made up of whispers and back hand deals. Again because i live in my bubble i had no idea this has been a thing for almost a year now. I spoke with a few other stackers and they were like ''How did you not know this was happening?''. Most people i spoke with said they only expect to see STEEM hit $1 again if it gets caught up during the next BTC bullrun. Im feeling a little stupid for buying 5000 STEEM half a year back to fund CryptoSicko and that i never cashed any out when times were good at the start of 2018. I always just thought to myself, stack SP and sell out during the next bull run which is the one we are waiting for now but it appears this might not happen cause Steemit's fooked and they are not trying to fix it. They are moving on and we are being left behind. They have got rid of 70% of the staff and sold off most of their holding's. I have just found out we are on a sinking ship and all the lifeboats are gone. I'll guess i'll be powering down and holding until STEEM hit's 50 cent to cash some out and make sure i get my 180 oz of silver back that i sold to fund CryptoSicko and than HODL the rest just encase in experiencing FUD. There's term i have not seen in a while.
We all have high hopes and think that Steemit will bonce back but let's look at it from an outsider point of key. The interface is rubbish, users options do not exist, posts are displayed like it were stuck in the 90's and most content is from bots. Over million accounts with currently an average of 13,000 new posts everyday and around 45,000 comments, come on folk's Steemit is already dead. 13k new posts a day is complete piss, some youtubers get more comments ffs. There are a few other things i am finding out about as well and there just feels to be a bad vibe about the place lately, hopefully it's just me.
I wish i stayed in my bubble with my happy thoughts of $5 STEEM
If i decide to jack it all in, i'll still always be around. I have group holding of crypto and im not into ripping people off so i'll still need to take care of that and then theres the rest, CryptoSicko and community roles which will take longer to phase out so i guess im stuck here.
Thanks for reading my moan post
My attitude changes day by day about steem. Heck maybe hour by hour! lol But there is still love there, and I know lots of others fell the same way as I do. So will steem go to 10$? I really think not, but 1-2$ is a real possibility. Best thing people can do now, if they decided to stay, is take advantage of the low price of steem, :)
Problem is it keeps going down, we thought we hit the bottom and then it lost 20 spots on marketcap while everything else is still up compared to 4-5 months back. I'll be power downing and just HODLing for a while. Thanks for checking out my post man
I'm still optimistic when it comes to Steem. Currently there is no better or more developed social media blockchain. And don't conflate Steemit with Steem. If you don't like the Steemit interface, use Steempeak or Busy or eSteem or whatever. In the long run, Steemit liquidating their holdings would be better for Steem (though in reality they are unlikely to do this) because that means it will likely become more distributed.
As I understand it, a "Steem 2.0" based on EOS has been planned ever since Dan left Steemit to work on EOS. This is separate from Steem and will be a competitor. How well it does remains to be seen. For the moment it is vaporware. Right now Steem has a big advantage in that it has an established user base and a number of dApps built on it already. However, the Steem community, especially Steemit and other large stakeholders need to figure out how to maintain this advantage so that Steem doesn't become the Friendster or MySpace of social media blockchains. But like i said, I'm still optimistic.
EOS seems overly complicated so I'm not convinced of its long term success. I've played around with other blockchain based social media (like Whaleshares and Weku) but I find they have fewer users and they have no dApps to speak of. For now, Steem is still number 1 among social media blockchains by a long shot though that is no guarantee of future success.
Brillant reply, thank you
I have never really consider any other steem interface to do my posting from. So steemit 2.0 is not really something to worry about in the short term, that makes me feel better. I do hope things start to happen and they add things like steemit communities and get their SMT released.
I have a few EOS but not many, i never really got the hype back when it was coming up.
I’ve contemplated the same thing but I don’t think Steemit is going anywhere. While i don’t see the price of Steem ever blowing up again like i hoped, it should get back to atleast $1 at some point. I’m not going anywhere.
Until the next best thing comes along....... wink, wink
Don’t feel bad UK. I bought EOS at $13. Talk about fucked....
I brought most my Neo at $130.............. and a half a smartnode at 20 cent each. Mumma memma!!!!
What else you got? lol.
It's been brutal for sure. I have confidence is most of my top 20 holdings, trons abit iffy. STEEM has dropped 30 spots on marketcap over the past year, im sure you know and Steemit is it's biggest dapp so unless someone brings something amazing to the table, STEEM is pretty dependent on Steemit.
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I don't what will happen with Steemit, but to put all your eggs in a basket that's not even yours doesn't seem like a winning proposition.
I'm sure people have made and still make good money on Steemit. If you're just starting, however, build your own website. It's not hard with WordPress and it will be yours to fail with or succeed. 🤔
Used wordpress for years and i've been thinking about it lately.
@silverstackeruk - I think you may have gotten some bad info. As far as I know, they're not moving Steemit from STEEM to EOS. What all the talk is about is EOS releasing a dapp similar to steemit possibly called, "MEOS". Dan Larimer had sort of dubbed it, 'steemit 2.0' but it's a completely different project apart from steemit.
That said, I do share some of your general feelings of doubt. The thing that always gets me is that STEEM has dapps that actually work. Sure they could be better, and they are always being worked on and improved... but really the talk about a new 'steemit 2.0' is just that, it's all talk.
We will have to wait and see but it’s still fun to earn
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