Steemit how can this thing be workable long term?

[chryspano]

this video reminds me of iamnotback's behavior at some times... https://www.youtube.com/watch?v=_FE7V_8CgmQ&feature=youtu.be&t=1m51s

[iamnotback]

iamnotblack, how much are you getting paid for all this trolling? I've never seen anybody willing to waste this much time and energy on something that they have no stake in.

Potentially $millions or $billions. I am analyzing Steemit, because I view Dan's work as one of the potential competitors to my (under development) project. So I want to make sure I understand what he is doing and whether it has any value.

My current analysis (my upthread posts) is that Steemit has no value. But I am for example interested to view the chart data that CoinHoarder has linked to.

I understand you two guys (chryspano) don't value peer review. That is unfortunate for you if you don't understand the importance of peer review. Apparently CoinHoarder has come to understand that I am sincere in my desire to analyze the facts. You two guys seem to confuse peer review with trolling.

[bacchist]

Oh, I see. You view Steem as competition. Now it's clear why you are so relentless... You just want to hurt Steem, and by extension Steemit users.

What a guy.

[iamnotback]

You just want to hurt Steem, and by extension Steemit users.

What part of "peer review" do you mistake with your "playing the victim card".

This is "Altcoin Discussion" at "Bitcointalk". The entire point of this forum is to do peer review. You are welcome to point out any mistakes in my analysis if you can.

[chryspano]

iamnotblack, how much are you getting paid for all this trolling? I've never seen anybody willing to waste this much time and energy on something that they have no stake in.

Potentially $millions or $billions. I am analyzing Steemit, because I view Dan's work as one of the potential competitors to my (under development) project. So I want to make sure I understand what he is doing and whether it has any value.

My current analysis (my upthread posts) is that Steemit has no value. But I am for example interested to view the chart data that CoinHoarder has linked to.

I understand you two guys (chryspano) don't value peer review. That is unfortunate for you if you don't understand the importance of peer review. Apparently CoinHoarder has come to understand that I am sincere in my desire to analyze the facts. You two guys seem to confuse peer review with trolling.

Some of your posts if not the majority of them, have nothing to do with "peer review"

[bacchist]

You just want to hurt Steem, and by extension Steemit users.

What part of "peer review" do you mistake with your "playing the victim card".

This is "Altcoin Discussion" at "Bitcointalk". The entire point of this forum is to do peer review. You are welcome to point out any mistakes in my analysis if you can.

I have repeatedly corrected you. You simply refuse to have an honest discussion in good faith.

[iamnotback]

You just want to hurt Steem, and by extension Steemit users.

What part of "peer review" do you mistake with your "playing the victim card".

This is "Altcoin Discussion" at "Bitcointalk". The entire point of this forum is to do peer review. You are welcome to point out any mistakes in my analysis if you can.

I have repeatedly corrected you. You simply refuse to have an honest discussion in good faith.

I have rebutted every one of your posts that was directed to me. Readers are free to review the thread. Let them read and decide.

Some of your posts if not the majority of them, have nothing to do with "peer review"

I disagree. I don't think you are smart enough to understand what I have written.

Please both of you stick to debating the facts, not debating about me. You are filling the thread with irrelevant noise when you talk about me.

[Zer0Sum]

Some people boasted about 10,000 people using Steemit but, judging by the pending payouts, almost all the activity is $0 / "freemium users".  Getting a force of 10,000 out is sizeable in the crypto but it makes it nowhere as popular as Bitcointalk dotorg and isn't indicative of viral adoption.  

As I've said before - Reddit clones have been tried a dozen times before and none end up viral.

You must be high or retarded if you think the hard data recorded on an immutable block chain is not indicative of viral growth: https://steemle.com/charts.php

https://en.wikipedia.org/wiki/Ad_hominem

This guys resorts to logical fallacies when he gets owned.  

Steemit is 10,000.  Even that GetGems stuff, which was a clone of Telegram, had over 300,000+.

I've been looking at Alexa Rank and Google Trends, Steemit is nowhere as popular as other Reddit clones like Voat.  People will realize shortly there's no people coming onto Steemit (other than crypto regulars and a few friends) and that's when the capitalization will tank.  

You mean Steemit isn't as popular as web sites that have been released and marketed for years? Shocker.

Save your breath crying ad hominem. Anyone that followed the link gets my point.

Also, it looks like you pulled the 10k user number out of your butt (or whoever you ripped it from without verifying the information did.) Actual numbers are 300,000+ users with 150,000+ returning users and 102,000 loyal users averaging 10 minutes per session.

https://steemit.com/steemit/@gavvet/where-steemit-adoption-is-going-to-the-mooooon

FUD on brother!

The 10,000 number is accurate based on 7 day account activity from the steemd blockchain.

https://steemd.com/distribution

My main concern is that STEEM is no longer secured by a blockchain (steemd)...
It is, in fact, secured by a central web site that would require a staff of bank level security pros to function.

How can you "invest" in an unsecure web site?

A possible approach is a GUI wallet on top of steemd (like ETH or NXT).
But I don't see any talk of serious security... it's only a matter of time before a whale is hacked.

[unusualfacts30]

I just don't understand, how some people are making 11k on steem with 500 up votes, while others are making 0.05 cents with 30 up votes.

Math doesn't add up

[iamnotback]

I just don't understand, how some people are making 11k on steem with 500 up votes, while others are making 0.05 cents with 30 up votes.

Math doesn't add up

I already explained that. It was done on purpose to deceive the users by making them jealous.

[Zer0Sum]

I just don't understand, how some people are making 11k on steem with 500 up votes, while others are making 0.05 cents with 30 up votes.

Math doesn't add up

There are about 30 whales and only their votes produce meaningful rewards...
So these 30 whales are busy upvoting themselves and their friends.

I could give you horrific examples of known scammers being upvoted by whales, but why bother.

[nomoreheroes7]

I just don't understand, how some people are making 11k on steem with 500 up votes, while others are making 0.05 cents with 30 up votes.

Math doesn't add up

Those with large vested balances (read: whales) have way, wayyyy more voting strength (like seriously, it's insane how many orders of magnitude larger the difference is) compared to the little guys. This has been my largest complaint since the beginning: whales are completely running the show. Other than that Steemit's on the right track.

[unusualfacts30]

I just don't understand, how some people are making 11k on steem with 500 up votes, while others are making 0.05 cents with 30 up votes.

Math doesn't add up

Those with large vested balances (read: whales) have way, wayyyy more voting strength compared to the little guys. This has been my largest complaint since the beginning: whales are completely running the show. Other than that Steemit's on the right track.

Got you, so you just follow the whale and find out what he likes and create posts based on that topic to get up votes from him.

Thanks. I was trying to understand the trend there because it looked confusing.

so it's like reddit gold but worse. lol

[unusualfacts30]

I just don't understand, how some people are making 11k on steem with 500 up votes, while others are making 0.05 cents with 30 up votes.

Math doesn't add up

I already explained that. It was done on purpose to deceive the users by making them jealous.

Is that Michael Cera in the middle?

[iamnotback]

I just don't understand, how some people are making 11k on steem with 500 up votes, while others are making 0.05 cents with 30 up votes.

Math doesn't add up

I already explained that. It was done on purpose to deceive the users by making them jealous.

Is that Michael Cera in the middle?

Afaik, that is Daniel Larimer, the creator of Bitshares and Steem.

Other than that Steemit's on the right track.

You are ignoring the economic points I've made in this thread which refute you.

[bacchist]

You just want to hurt Steem, and by extension Steemit users.

What part of "peer review" do you mistake with your "playing the victim card".

This is "Altcoin Discussion" at "Bitcointalk". The entire point of this forum is to do peer review. You are welcome to point out any mistakes in my analysis if you can.

I have repeatedly corrected you. You simply refuse to have an honest discussion in good faith.

I have rebutted every one of your posts that was directed to me. Readers are free to review the thread. Let them read and decide.

You have responded to everything I said, but you have been wrong. Your posts have been riddled with factual inaccuracies and wild speculation based on false assumptions (or more likely, outright lies).

[iamnotback]

The 10,000 number is accurate based on 7 day account activity from the steemd blockchain.

https://steemd.com/distribution

If the 3000 signups per day claim is correct, then they are seeing at least 60% abandoned accounts rate, which also is approximately corroborated by the loss of actives of newbies from all history to recent 7 days.

Only 28% of the weeks active are active on any given day. So the majority are not revisiting every day. Given the evidence of a high rate of attrition, it is possible that instead of gaining a set of sticky users which is 40% of the signups, instead what might be happening is after so many days, nearly 100% abandon the site and the new signups are replacing the lost people (mathematically plausible if the rate of signups has been increasing which would also mean the attrition rate is much higher than 60% when comparing recent 7 days to all history). Meaning that it is possible the site has no stickiness. We need see charts on users by age of account and activity in order to answer this question. Also to more accurately see how the rates might be changing over time.

The last 24 hours stats might be skewed by the downtime due to the hack.

You have responded to everything I said, but you have been wrong. Your posts have been riddled with factual inaccuracies and wild speculation based on false assumptions (or more likely, outright lies).

I think you are a liar in the sense of trying to paint the prior posts without repeating all the details again. I will let the reader read all my posts and decide. You are trying to respin what was already written, which is a trolling tactic.

The readers are free to read all your posts and my posts and decide if you were wrong.

You are free to reargue the details of our prior posts. Go ahead if you want, and I will reiterate my prior points in rebuttal.



Readers please note I've put chryspano on Ignore. So I won't be replying to him. I find that he doesn't make any point. If anyone feels he has made a valid point that needs to be rebutted, you may inform me.

[chryspano]

Some of your posts if not the majority of them, have nothing to do with "peer review"

I disagree. I don't think you are smart enough to understand what I have written.

FUD, lies, misinformation, some half baked truths, out of context stuff and a bunch of nonsense, that's what you have "written" so far.
Keep spewing trollish posts left and right.

Please both of you stick to debating the facts, not debating about me. You are filling the thread with irrelevant noise when you talk about me.

Really? finally you start to care about the "noise"? what a hypocrite!
I asked you numerous times why you did't open a moderated thread instead of running ammok in varius trollish and non trollish threads but you didn't answer(I quess you weren't "smart enought" to do so)

It would be more efficient for you and everyone else in the forum if you opened a moderated thread and expressed your concerns and criticism there in a valid way, that's what I would expect from a supposed "smart" guy like you to do, but instead, you choose to run around every stupid trollish thread like a panicked headless chicken, messing your posts with every other crap. The art of proper FUDing and Trolling I guess... Master!

^^^ You religiously avoid to to give an explanation to your... "behaviour"

[iamnotback]

Second hack may be underway:

it looks quite serious someone have found a way to add ilimited steems to the post, look the video (i can not confirm if this is real or fake)

https://www.reddit.com/r/btc/comments/4t4c2l/giving_unlimited_amount_of_steem_to_users_without/

Hopefully the same hacker who drained the DAO is going to put an end to this Streemit retarded shit as well.

May only be a GUI/frontend bug:

looks like you don't need to know much to become a r/btc mod LOL (it's just a GUI bug, he did not check if it's real on the blockchain)

https://twitter.com/btsfav/status/754381407263289345

Bitshares dude claims maintenance is due to hacker stealing more funds, so there is a second hack:

some accounts did not change their passwords, besides the billion warnings posted all day. the hacker cleaned those leftovers today.
steemit.com is now in maintenance mode

Don't you love this corporate run block chain shit.

Why are the fucking passwords (and private keys for signing transactions) stored any where except on the user's private wallet on the user's computer. Probably because they wanted the system to be easy to login from any computer the user might change to. So probably they have a process where you can take control of your private key if you are sophisticated enough. But this is what happens when you make a way for users to earn and hold $1000s and give them a default private key mgmt that stores it on the corporate server. Another reason that their retarded quadratic skewing of payouts in order to make all users jealous and irrational, has another bad effect that it weakens security.

[bacchist]

Second hack may be underway:

it looks quite serious someone have found a way to add ilimited steems to the post, look the video (i can not confirm if this is real or fake)

https://www.reddit.com/r/btc/comments/4t4c2l/giving_unlimited_amount_of_steem_to_users_without/

Hopefully the same hacker who drained the DAO is going to put an end to this Streemit retarded shit as well.

Not true... quirk of the user interface... nothing is being recorded to the blockchain... look at the vote totals... they don't go up... the $ figure is just an approximation... it is based on the share of the current vote pool and the price feed... both of which can and always do change over time before payout occurs...