Bitcoin Forum

I dont even know what you're talking about....

That's becoming more and more blatant. That will go nowhere. I don't understand what is your problem with a premine. The developpers can't live from some random "tahnk you" ::)...

I am thinking there is a very easy way to determine if Steem or any competitor such as Peerplays is failing.

As @xtester wrote in his most recent blog, it is all about the rate of growth. Which is what I've been saying.

Seems Steem signups are averaging in the rough neighborhood of 1000 per day and are not increasing. Of these, about 80+% become inactive within 30 days or less (xtester claims 66% but I think he is fooled by a recent reacceleration of signups and my prior calculations showed 80+%).

So with actually about 200 signups per day, that is ... drumroll please ... a humongous 73,000 active users after 1 year.

And we don't know how many of those are bots. And we don't know how many of those will quit within a year.

73,000 users is freckle on an elephants ass when we are talking about the economies-of-scale in networking that are necessary to make a social network (and merchant) ecosystem viable.

Even if we increase that by an order-of-magnitude, at 730,000 users in one year, it is still at least an order-of-magnitude insufficient.

There is a deeper point. The Steem adoption rate numbers are indicative of lack of viral spread. The signups are merely barely replacing attrition. Intuitively I am nearly certain that the reason is because there is no compelling networking of the reason to signup.

Try to understand the reason people signed up for other social networks. It was because they did something very unique and in high demand. So when all your friends were joining, you caved in and joined too.

Steem has none of those attributes. It doesn't do something very unique that is in high demand. And not all of my friends are joining. The reason is because most people don't give a fuck about storage persistance and censorship resistance, and blogging to earn $ is not something most people can do well (and besides it is not immediately gratification and requires a lot of work, both of which are things the masses hate).

Sorry you need a new formula and Peerplays can repeat this same mistake but it won't cross the chasm.

I have a plan and a design and now I've chosen a 5 letter, one syllable name.

Opposing viewpoint aka my 2 cents:

That's becoming more and more blatant. That will go nowhere. I don't understand what is your problem with a premine. The developpers can't live from some random "tahnk you" ::)...

Opposing viewpoint aka my 2 cents:

"Tsu users, meanwhile, didn’t come because they cared about connecting – they came for the money. That never ends well."

Steemit...They basically lost me when Dan posted his insane plan to have a "whale curation bot arms race"...
And force people to read only garbage dictated by bots in a 30 minute window...
If I see another "Steem changed my life" or "here's more pics no one cares about" I'm gonna hurl.

Imagine if Amazon had 50 college age millionaires pick the only products you can see and buy...
As opposed to real people who work... and spent hard-earned money to buy the item... and write a sincere review...
It's a good parallel because books and music are very widely reviewed on Amazon.

This is the whole problem with having engineers design consumer products...
They have no concept of what usability means for an average person... or the 1000 other options they have.

Like the asshole decision not to release a Windows binary of steemd = massive, deliberate security hole...
How much money can one put in an account secured ONLY by an unregulated, centralized web site targeted by every hacket out there?

I had all the same reactions to those specifics.

But the problem is if we successfully spread the rewards out, then authors won't hardly be earning anything. Then why would 20,000 bloggers switch from Medium, and even Facebook and other more powerful competitors are adding blogging features. The voting paradigm is inherently dysfunctional and I am intending to do something about this soon (https://steemit.com/money/@kaylinart/hacks-to-become-a-millionaire#@anonymint/re-kaylinart-re-shenanigator-re-kaylinart-hacks-to-become-a-millionaire-20160817t073726878z).

You can't because the whales own it. So there is a class war. And if we spread out the ownership uniformly then no one has any control and more over no one has any profit because we are just debasing ourselves to pay ourselves uniformly.

The paradigm is fundamentally broken.

STEEM is just a coin with a marketing budget controlled by the owners, that's all.

Yes the whales own the keys to the marketing budget, and the best way to convince them to upvote you is to post stuff that shows how you marketed Steemit to the masses. 

STEEM is just a coin with a marketing budget controlled by the owners, that's all.

Pretty simple and effective business model, it seems.

Now Charlie Shrem is posting on Steemit exclusively.

All the big bitcoin celebs are showing up there to get paid to promote crypto.  And if you are normally a crypto promoter who does it for[size=40pt] free like Amanda B Johnson[/size], or Mad Bitcoins, then of course you are going to at least post parallel on Steemit.

That is the model.  You ain't going to make a million posting cooking tutorials anywhere.

Are you lamenting the inability to access accounts from a Windows client and thus forcing Windows users to access it through Steemit?

and a paid STEEM employee too obviously


The entire point is to make the network valuable to the people so they use it.  Who cares what the coin is worth as long as people can be compensated adequately for their productive work.

Only speculators care about the value of their tokens.  

That might be the entire point of a simple chain like bitcoin, but a smartchain like STEEM or PeerPlays is designed for an entirely different purpose.