(5 SBD giveaway) Question : how would you kill STEEM ?
In your assessment , what is the most likely way STEEM can be taken out ?
To me , it seems that if/when STEEM becomes a credible threat to Facebook/Twitter and since it cannot be acquired ( like whatsapp/instagram) , Zuckbot can just buy shitloads of STEEM and then dump it on the market and run STEEM into ground.
If you disagree tell me what is the protective measure against it ?
Zuckbot army taking aim at STEEM
edit :
A better question would be
how easy/likely is it for any given corporate to kill crypto based competitors...by price dumping and other means...since the stock markets are more regulated, does that make it easier at all to kill crypto based competition ?
I think it may be harder than that. Though, to be fair to Marky, he probably does have folks above him with MUCH deeper pockets... I mean, obviously he's not making his own decisions. I feel like he WAS trying to at some point... but when you're told what to do- you do it.
And... I honestly don't think STEEM is a threat to them. The biggest threat is everyone breaking up and finding a smaller community platform. There's NO NEED for a global place where EVERYONE goes. It's weird. It also lends itself towards corruption.
Of course, I like that many/most sites ARE global... but that doesn't mean every single person has to be on every site... or even one.
I think we all got so excited about the idea of having a 'one-stop-shop' we just gave our rights away. Now, more folks are rolling over (waking up, if you will) and saying, "What the hell's going on here? This isn't what I signed up for."
Now we just need to spread out. Literally we need to DECENTRALIZE ourselves so it's harder to 'control' ... or 'give information of one type' to everyone at once.
We are a LOT of voices. It's okay to play in different sand boxes.
And finally, I LOVE STEEM and all its platforms. I know there are several others out there popping up doing the same thing- and that's good. Competition is good.
Side note: I've been so upset by all this I wrote a song about it. The first song I've EVER written... So the angst must be there. 😏
Tks for reply...
Agreed smaller niche communites can be more engaging ( https://en.wikipedia.org/wiki/Dunbar%27s_number)
I also fully expect a fight for the virtual town square if/when STEEM becomes a credible threat ...they are already shadow banning STEEM links on FB.
I dunno... Steem is SO small in comparision. Like the tiniest of fishes. I still feel like though they don't want us around.... they aren't too focused on us right now... Maybe in YEARS... but Steemit as a platform is still REALLY hard to get into... And it's not for the ... clears throat slower of the population... if you get what I'm saying... And those slower folks? They make up most of Facebook now...
They started shadow banning my steemit posts (I checked on this) about 6 months ago... And then I stopped posting on Facebook. 😎
Here's a little poem my hubs wrote about it:
https://steemit.com/poetry/@chrisroberts/facebook-shadow-ban-the-daily-limerick-30#
Read the poem , it's perfection...
I also got shadow banning on steemit mention and ig and fb kind of punished algo so I keep it separate now
I guess crypto bear market is affecting everyone and everyone is saying cryptos are failing... this has happened before and will happen again...
IMO STEEM is almost at a "to big to fail" phase, we already got ppl making this their work, living out of STEEM, we already have plenty of dev coming in, etc... I don't think facebook buying a lot of STEEM and dumping it at the market would make any sort of impact, yes the price might lower, but the place won't go down because of it, people would just see STEEM at a low price and put more fiat into, making facebook lose millions in the way, imagine if STEEM was at 10 bucks 1 day and the next day it was at 1 buck, what would you do? Because I would totally buy it! Facebook would lose money... a lot of money... trying to do that, and also, sooner or later regulation will happen, and dumping a lot of shares on the market can be considered price manipulation and someone could get arrested...
The only for STEEM to end in my opinion is for a new better blockchain to show up, and even then i don't know, we have steemians with 3 years of STEEM experience on board... ONO- has KYC which many people don't like, Steemit 2.0 is still no where to be seen and no one knows anything about it, and the other blockchains trying to go for social networks are to small for someone to even hear about them...
Oh and another thing, facebook? Steem is already youtube, twitch, facebook and 9gag at the same time... facebook has got nothing on us, if they actually tried to attack us it would be bad press for them, and good press for us, in the end people would see facebook attacking a competitor and think "if facebook is scared of this, let's go check it out!", which would bring millions of people in just because finnaly the content would be monetized!
This is a really good point , right now though it is a wild wild west
I don't know if it is wild wild west though... when coinbase put bcash people called for inside trading and there was a search for inside trading, some bitconnect people got arrested... tether already had some authorities searching to see if each tether was backed or not... I don't know if it is THAT much of a wild wild west
This bear market is really really good to shake out weak hands and all the scams...
Bitconnect went the MLM route....it was too glaring to ignore.
Also Tether /Bcash investigations were "internal experts" and "private third parties" , I would not put much trust in the outcome of them , not that SEC is doing their job in a proper way.
Zuck is on a different planet. He can easily expand Internet.org to include more sites. Here in the Philippines free Facebook (limited - no video and internet.org sites) is more important than Steem. Related: Messenger.
His, and also Google’s, future weapon of choice will be free internet in markets where (mobile) connectivity is still more expensive than the average disposable income.
Steem has a decade to go before reaching any level of scale which could become a blip on his radar and even then he’s a decade ahead still.
Also, by then Steem is all SMTs. Not Steemit.
Steem will take several hits to the head when censorfree will he truly challenged. Challenged by possibly becoming a play field for hatred.
Next challenges will be mostly revenge pr0n: while edits are now possible they don’t change the damage done with throw away accounts. Even if hidden from site... the victim’s name will still be indexed directly from the blockchain. Several search engines already crawl the blockchain explorers.
Sites like Steemit (and also IPFS btw) have a DMCA policy but DMCA doesn’t cover those elements.
Depending on how Steem (governance) can act and implement measures against that type of threats Steem, as a token, will thrive or disappear in oblivion.
Tks for reply.
I remember how viacom tried to sue the pants off of youtube when youtube was a baby , something similar is fully expected.
Nah. I didn’t get everything in in first version of my comment but honestly... even not a blip on Zuck’s radar.
That’s a fact and it will take eons before. By then... Zuck will be smart enough to know that you can’t sue DPOS.
Sorry... he won’t give a hoot for a really long time about Steem. He has bigger issues, stuff like governments, and expansion in China, to deal with.
That's true but WHEN Steem is a threat , how likely/easy is it to take it down by price dumping?
When STEEM is a threat STEEM will long not be what you all think it is anymore.
Steem will be fully SMT and all SMTs will be tokenized, this making STEEM eventually limited supply.
STEEM will be a threat because major token but not because social network.
Look now already: we have a producthunt alike platform, an activity (fitness) tracker, and a meditation platform.
Three things FB doesn’t cover. And that’s long before SMTs even. Probably still a year to go for SMT platform release and we already have around 10 SMTs which will tokenize and hundreds more to come. Make that thousands.
All good points but Whatsapp isn't social network either , oculus isn't social network either....
I am not saying Zuckbot has some vendetta against STEEM but more of a question that if one of existing big player wanted to take out STEEM , how easy/likely is it ?
Mark always wanted AR/VR. I think secretly he was a big fan of Second Life.
Truth is in the messenger era, his always goal: connecting people, eventually more augmented visualizations are the inevitable outcome.
So... by the time steem reaches scale he’s in VR WhatsApp already.
Also WhatsApp acquisition was massive user retention. Actually churned users who had opted for privacy already.
All those who paid $1 for WhatsApp (yes, it wasn’t a free app) almost all left since. Telegram thanks Zuckerberg for the WhatsApp acquisition.
Source please
All people I knew who were on Whatsapp are still on it but I am open to new information.
Addendum: Starting September 26 each new account will burn 3STEEM at going account creation fee. That means that there will be always less STEEM as STEEM grows and HODLing will happen much sooner than before we become a threat.
TL;DR: he won’t give a seat about STEEM and STEEM will not become the threat either (because tokenized platforms).
I get the token theory but tokens are still run on STEEM , or atleast have value derived from STEEM , No?
I take your broader point as well that STEEM ecosystem will be so diverse that killing it won't be on the priority list of 1 giant corporate.
Why would he waste his money buying steem to dump it and lose money, when he could just tokenise FB?
https://www.theverge.com/2018/5/11/17344318/facebook-cryptocurrency-token-blockchain-report-david-marcus
Plus FB and steemit are not the same thing anyway.
A better question would have been -
how easy/likely is it for any given corporate to kill crypto based competitors... by price dumping and other means.
The market is not that deep. It would take them a while to build up a substantial position and then to dump it in one go, there would need to be a hell of a lot of buyers, which there isn't. This is not S&P500 futures or forex markets. The liquidity is not there.
The market being not deep would make it easier to tank the price , no?
one can use less capital to force the dump.
You still need buyers. If there aren't any you can't sell.
in the same vein , crypto market caps are also bogus
https://crypto.bi/tape/blog/market-caps/
Re-read your response...makes sense in today's context.
Agreed. Steemit and FB are NOT the same thing. When I first started I totally thought it was... or could be... But it can't be. It's a blogging website for creators. Eventually, all the folks who are more FB in their sharing will leave, methinks. And that's okay. 😍
#interesteem
@itstime Taram-pam-pam
yes indeed