Why STEEMIT.COM will Survive, even if STEEM goes to .01 Cents per GABRIEL MARCEL, French Philosopher
Shot in the GUT
A few weeks ago @dantheman posted an article that might have burst the bubble of many who were using the Metric of Total Steemit USERS, which is currently approaching 100K, as a measure of success for STEEMIT.COM At the time of the article, there were approximately 80K Steemit user accounts and growing. The article stated that about 10% of the 80K users were most likely true Steemit users and not bots, squatters or other abusive types of accounts. This was quite a shot in the gut for some.
At the time of the article, the price of Steem was in the price range of about .84 cents. It has since lost about another 33% in price value, and is hovering around US .50 cents. Obviously, it doesn't have much more room to go down in price before it actually hits Zero. I strongly believe that it Will Not go to the price of zero bar some catastrophic devastating code breaking server crashing World Economic Collapse followed by a giant Meteor striking Planet Earth, in which case Everything goes to Sh#t anyway.
But even if the price of STEEM winds down to .01 cent, STEEMIT.COM will continue on, will thrive and will eventually succeed in its own right. This conviction stems from one word; HOPE. One of the dictionary's definition of Hope is the expectation of fulfillment or success. Many of us here are fulfilled just with being recognized or acknowledged by the community when we express our thoughts, ideas and/or feelings. Writers, just like hands on artists, take pride in displaying their work to the world at large. For some of us here on STEEMIT, just the thought that someone might better their lives, or expand their knowledge or understanding of the world around by one of these posts IS FULFILLMENT enough. The Monetary success, if it comes, is just an added bonus that helps validate your contribution to the community and the World.
I AM WORTH IT!
Gabriel Marcel was a French Philosopher, Author, Playwright and Existentialist. Throughout most if not all his works, he attempted to incorporate his ideas on the human subject versus the human object into his works. Marcel believed that the individual, not society or anyone else, created his or her own sense of value or worth. So too here on STEEMIT, it is up to us, the individuals, to create our own sense of worth, and it does not have to include a Dollar Sign. This is and will continue to be the "Secret Sauce" to Steemit's Success. Great Steemit examples range from the recently @charlieshrem tool found at steempower.org (steemit editor), @roelandp with all his great tools, and the up and coming @bullionstackers who recently has found cause with shameful Downvoters. These are just a few of the examples on STEEMIT that validate the idea of the individual creating their own sense of value through their own works or contributions to the STEEMIT society, and not the other way around. The more you feel and know your are worth something, the more others around you will come to see it, know it and accept it. In the end, STEEMIT.COM's value will be the added up tally of each true Individual Steemit User's Worth. Since I know I am worth a lot, and I know you are too if not more so, and so on times oh say 10,000 users, just think when it's 100k true Steemit Users!!
Sources:
pixabay.com
google.com (image/reuse)
flickr.com
wikipedia.org
Full $teem Ahead!
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I really hope that Steemit can succeed. The internet has changed over the last couple of decades. It's become more and more corporate with big companies controlling what we can do. I've hoped to see some decentralised systems gain traction so that users can regain control of their data and have some say in the direction they take. I don't think advertising is the only way to make it pay. We need new economic models that can empower users and bypass traditional banks and other providers who all take their cut.
What we have now is just the start. Steemit is a platform on which the revolution can be built.
Steemit could change advertising. Here's an idea: suppose advertisers purchase steempower and then use a bot to upvote articles everytime their brand is mentioned it it? So coca-cola would upvote anything that mentioned their product, and so on.
I intensely DISLIKE 'in your face' advertising.
I might be the only person on the planet that feels that way.
Don't care.
If advertising come to me...I'm distrustful from the start.
Anything worth having is worth looking for. I've learned from experience.
If I want something I'll go look for it.
Nothing prevents a seller from making themselves EASY to find.
but be discrete.
I assume there's nothing to stop an advertiser buying their way in and doing that. I guess whales could cancel out their votes if they didn't like that behaviour. The advertisers would have to be careful as posts could be criticising them.
It depends entirely on whether the devs will allow the whales to go toe-to-toe with commercial entities that are buying steempower.
Think about it, this project only works if there are buyers. And advertisers can be big buyers. If buyers of steempower get attacked, then they sell, deter other buyers and the whole project collapses.
I can see your point. It will get interesting when commercial entities decide that Steemit is something worth buying into.
But down voting someone who is spending money, as much as some of us might not like the ads, wouldn't be smart.
Beautifully said @steevc
Let us hope that you are correct along with Gabriel Marcel =)
Thanks @serejandmyself for the support. I might not know what will happen with the price, but I know the value being created here by each individual is Worth something. I think this entire paradigm is game changing, and it is only a matter of time.
full $teem ahead!
Great article. I think messages like this are important to share as the price of Steem goes down, and a lot of people tend to panic and start to worry that the site is going to die. I totally agree that Steemit is not going anywhere! If it ever got down to that low, I would buy a boatload and make myself a super-whale!
You should check out this article I wrote a few weeks ago. It touches on a lot of the same points as yours :)
Down Down We Go – And why that might not be a bad thing
I believe Steemit will succeed. With the right gameplan and the right people behind it, there is no way it's going to fail.
@snowflake , at point you could buy 3 BITCOINS for 1 PENNY. Today's price is near $600 dollars. Steem is worth around .50 cents now, something that took Bitcoin years to achieve was done in months.
The main difference between steem and bitcoin is that bitcoin can be widely adopted even with a low price.
Steem however can't, its price is essential to the adoption of the platform. As I explained here https://steemit.com/steem/@snowflake/there-is-an-easy-way-to-redistribute-power-without-suppressing-the-price-why-not-do-it the price of steem will always go down, and so I am not sure how people expect the platform to grow?
The price of Steem depends on the apps that are built on the blockchain. Steemit just happens to be first and only currently. I know access is locked to the blockchain now so no new apps can join but that will change once a certain stability is reached. Then Steem's price will be powered by the success of all its Apps.
Plus, you're forgetting about the Steem Backed Dollar. If properly managed by the witnesses, it will also support the ecosystem.
Excellent info. @anduweb
full $teem ahead!
You can have hundreds of apps if there is no money in the pool to reward users, people will have no interest to use these apps.
If steem had already reached that critical mass level it would be a different story because big advertisers would probably help increase the price of steem but how do you go from 10 000 users to mainstream adoption with a constantly decreasing price? that's literally impossible and advertisers would never be interested in a niche forum.
How will SBD support the ecosystem?
I'm replying here due to the comments depth limitation.
There are no actual money anywhere. It's perception of steem's value through exhange.
If there are hundreds of apps, I highly doubt so much attention has been given to something worthless in value. With popularity comes recognition and value.
SBD is steem backed. If it's properly managed and draws trust to be used widely (online, in-store payments etc.), it will support steem as it is powered by steem. Can't have one without the other.
You're mentioning advertisers. Don't limit your thinking to Steemit. One might post something on Steemit, earn SBD and then use SteemUber to spend those SBD, or buy a coffee at Starbucks with the SBD earned through a freelance.com steem powered platform.
How do you achieve popularity with an ever decreasing steem price? That was my initial question.
Right now Steem is searching for a balance as it's over-evaluated following the July pump. Until that is found, the price will keep decreasing. Once there, investors will step in, more apps will be developed, popularity will rise.
There's a lot of potential in Steem that is not currently exploited.
PS. There was a question on steemit.chat slightly related to your question. When Steem was worth 4$, why wasn't anyone asking these questions?
People weren't asking these questions because obviously the price was high and the platform healthy.
There was also no data at all to show how the steem market would behave, so Im not sure how people could guess that it was gonna go back to where it came from on a slow downtrend.
Steem will always be on a downtrend, even if there is another pump to $4 it will go the exact same way it just did and I explained why here https://steemit.com/steem/@snowflake/there-is-an-easy-way-to-redistribute-power-without-suppressing-the-price-why-not-do-it
Sure there is a lot of potential but the system is flawed, a gradual increase in price is essential to support the new users but the system is designed to gradually kill the price due to the unlimited growing amount of steem power ( see link)
man, Steemit wasn't healthy at 4 bucks. It was very early and with few features. It still needs more features, even through it's got some in the past 2 months since that 4$ moment.
That's a personal opinion of yours. There's a lot of people around that continue to invest and believe in Steem, Dan & Co.
Steemit at $4 could support a lot more users than it does today. The capacity of the platform went down 100 times in the last month so yeah at $4 it was pretty healthy much more than it is now.
It's not a personal opinion, it's a fact. Whales are mainly responsable to the price suppression, and guess what they all have more steem power than they had when they first started to dump, don't you see the flaw here?
Agree! But I suggest one edit ..
"In the end, STEEMIT.COM's value will be the added up tally of each true Individual Steemit User's Worth"
.. maybe? "In the end, STEEMIT.COM's worth will be the added up tally of each true Individual Steemit User's concept of the value they have brought to it."
STEEMIT has no worth if the people do not bring their value, that is why the developers must absolutely respond, as soon as possible, when a problem is detected which negatively impacts user engagement.
cheers!
thanks @kurtbeil I appreciate the info. Not sure if I will edit it though. I am currently working on a new post.
full $teem ahead!
not 100% sure i am convinced yet...cause it will destroy the market percentage of Steem dollars, and people will only be rewarded in Steem then...but on the other hand...people use Facebook and blogger and such an it gain them nothing in monetary value.