How and why Steem failed ?

[OmegaStarScream]

At some point, everyone was talking about it, I've even seen people in the introduction section writing how they quit their full-time jobs, etc... just to stay with Steem and now, It's pretty much gone with ~100m $ market cap while It was almost 300m $

[fmiboy]

Market correct itself for a while and userbase is keep climbing as improvements and development continues.

[BigSirko]

More like it succeeded based on an ignorant market and the failure today is the market is more educated.

The people buying into the pump did not know a small group of insiders controlled 80%.  Also the trending list has its' own version of political correction and thought committee:  the small group of insiders can upvote anything to the top and send things they don't like to the bottom.  This is why the Steemit Trending Page always seem to be women's travel blogs and wanks to Bitshares.  This practice of Steemit thought committee goes against the libertarian principles which the crypto community is an advocate of.

[vlom]

At some point, everyone was talking about it, I've even seen people in the introduction section writing how they quit their full-time jobs, etc... just to stay with Steem and now, It's pretty much gone with ~100m $ market cap while It was almost 300m $

the problem is not the value of steem. the problem is how it works. you can't earn something without the "help" of the "whales". or you have to buy a lot of steel from the "whales" to be able to vote yourself.

[shanem]

STEEM was being pumped too high in a very short time and is now correcting to find its true value. Besides, the inflation for STEEM is very high so it would be almost impossible for STEEM to sustain the high price without any new buyers coming. STEEM is a good idea but price has risen too much last month.

[amacar2]

Market correct itself for a while and userbase is keep climbing as improvements and development continues.

Yes this is true, actually what steem has got in short period of time is hard pump by speculators as well as from some whales. And now when the hype is over, steem is finding its true market value .

[Patatas]

At some point, everyone was talking about it, I've even seen people in the introduction section writing how they quit their full-time jobs, etc... just to stay with Steem and now, It's pretty much gone with ~100m $ market cap while It was almost 300m $

What goes up Must come down!

Let's not discuss big bold statements like "whales and the steel" or "pump and dump".The golden rule of the market : - The faster it becomes famous,the sooner they leave the trend.It hit the crypto community like a social stigma,like pokemonGo to the teenagers.What was the outcome ? As expected,it wasn't anything great than a poor trolled out meme that exists on the internet for couple of weeks.

[cowboys]

theres really not much incentive for people to buy steem through the market is one reason. 

two. its not necessarily a failure, the market is correcting from a bubble.

[Joint Force]

I like steemit better than reddit.

[freequant]

At some point, everyone was talking about it, I've even seen people in the introduction section writing how they quit their full-time jobs, etc... just to stay with Steem and now, It's pretty much gone with ~100m $ market cap while It was almost 300m $

Bitcoin too is "pretty much gone", see it used to trade at 1200 USD per coin now it's only 580 USD per coin. No kidding folks, price and marketcap never lie, Bitcoin is so dead I tell ya.

[bbc.reporter]

At some point, everyone was talking about it, I've even seen people in the introduction section writing how they quit their full-time jobs, etc... just to stay with Steem and now, It's pretty much gone with ~100m $ market cap while It was almost 300m $

Those are clearly hype and attempts for those users to get their post upvoted. Their plan all along is to get as much Steem as possible and then cash out as soon as possible. That is what is happening right now and it will go on until the price of Steem is very low and also until the hype is gone.

I pity the people who believed in it and are holding Steem Power right now. They are stuck for 2 years while watching Steem falling down really fast. I must be torture. Watch the video of Tai Zen on Youtube, he is clearly very concerned about the situation but still does not believe and accept that the model Steem is following might be flawed.

[cheapcoin]

Steem was 0.0005 before the huge pump, and the peak was 0.0075, which is 15X profit. Actually I think it is overpriced now, 0.0015 there, still 3X. The price should be 0.0005-0.001 is reasonable, because i see so many worthless articles got thousands of usd there.

[DecentralizeEconomics]

At some point, everyone was talking about it, I've even seen people in the introduction section writing how they quit their full-time jobs, etc... just to stay with Steem and now, It's pretty much gone with ~100m $ market cap while It was almost 300m $

Those are clearly hype and attempts for those users to get their post upvoted. Their plan all along is to get as much Steem as possible and then cash out as soon as possible. That is what is happening right now and it will go on until the price of Steem is very low and also until the hype is gone.

I pity the people who believed in it and are holding Steem Power right now. They are stuck for 2 years while watching Steem falling down really fast. I must be torture. Watch the video of Tai Zen on Youtube, he is clearly very concerned about the situation but still does not believe and accept that the model Steem is following might be flawed.

[OmegaStarScream]

At some point, everyone was talking about it, I've even seen people in the introduction section writing how they quit their full-time jobs, etc... just to stay with Steem and now, It's pretty much gone with ~100m $ market cap while It was almost 300m $

Bitcoin too is "pretty much gone", see it used to trade at 1200 USD per coin now it's only 580 USD per coin. No kidding folks, price and marketcap never lie, Bitcoin is so dead I tell ya.

If it increased to 1200 USD then it's pretty much because Willybot from Mt.Gox , even If they wasn't the reason, saying bitcoin is dead based on the marketcap is far from being true as the marketcap is above 9 billion dollar which isn't the case for any other crypto currency.
If we put the price aside and look at the developement ,It also look very promising as the SegWit is coming soon, Lightning network and more...
 

[LoyceV]

I've even seen people in the introduction section writing how they quit their full-time jobs, etc...

That sounds more like part of Steem's marketing plan than actual real life people writing about it. And that worked of course: seeing someone earn $30k from writing an unimportant story on some unimportant website makes people think they can do it too. The problem there is only a few can earn a lot, the rest is just wasting their time.
I've has a look at it, pretending to be a great social network, while in reality it's a website designed to make the creators rich, and they decide exactly what you get to see.
And when it fails, the next thing will pop up. "Social media" and "smart contracts" are the new altcoins, only meant to make the creators rich.

Nothing wrong with getting rich out of it BTW, but it is important to realize when you use it. And it is especially important to realize when you decide to spend money on it.

[jacafbiz]

I said steem vote was rigged in favour of the Centralise founder, steem is designed to self distrust

[DecentralizeEconomics]

I've even seen people in the introduction section writing how they quit their full-time jobs, etc...

That sounds more like part of Steem's marketing plan than actual real life people writing about it. And that worked of course: seeing someone earn $30k from writing an unimportant story on some unimportant website makes people think they can do it too. The problem there is only a few can earn a lot, the rest is just wasting their time.
I've has a look at it, pretending to be a great social network, while in reality it's a website designed to make the creators rich, and they decide exactly what you get to see.
And when it fails, the next thing will pop up. "Social media" and "smart contracts" are the new altcoins, only meant to make the creators rich.

Nothing wrong with getting rich out of it BTW, but it is important to realize when you use it. And it is especially important to realize when you decide to spend money on it.

It's different with Synereo.  With Synereo, you get to choose exactly what you see.  Nobody decides what you can or cannot see.  There is no centralization.  Your attention gets rewarded via AMPs on amplified content.  Everyone will earn money fairly in proportion to their attention and actions.  Synereo is social media and social contracts done right.

[themasknetwork]

https://steemle.com/charts.php?charts=overall

At 100k transactions / day it's far from dead.

[Spoetnik]

Profits.

It got harder to make "Profits" from it so the people wandered off.. the usual.

Further more it also became apparent it was a centralized rigged gimmick game for profit.
Read the scam topics on it and peer into how it works technically.
And what it's suppose to be and how it's played out.

I would have called it doomed from day 1 if i even bothered to care.

If you are looking for gimmicks / schemes tacked onto block-chains for profit
then carefully consider whether they are actually built on a solid concept
..that *ARE* in demand NEEDED / WANTED !

Did Steem solve a problem that needed fixing ?

no.

Does any "not-a-currency" gimmicky token scheme coin ? (such as Ethereum)

no.

[Denker]

At some point, everyone was talking about it, I've even seen people in the introduction section writing how they quit their full-time jobs, etc... just to stay with Steem and now, It's pretty much gone with ~100m $ market cap while It was almost 300m $

Steem was a ponzi scheme from the beginning.
I can not believe some people really quit their jobs just for that.I guess that had been obvious pumpers writing bs.
Steem will bleed out and the only ones whp profited will be the early owners and devs.
The less this coin will be worth the less people will post on tsteemit because they hardly earn any money from it.
In a few months this whole project will be forgotten.