RE: 25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!
@steevc thank you for mentioning this because you motivated me to expand on this in the questions and answers at the end of the post! Here is what I wrote after reading what you said!
What about the risk when someone brings out a more attractive platform? Reason number #10 talks about competitors and how Steem has the first mover advantage and this answer provides more detail on that. While it is possible a competitor might take off, going from zero to a million users is very difficult. Very few blockchains have made it this far and even if a competitor reaches as many users as Steem has today in a year or two, how many will Steem have then? 10 million? 25 million? 100 million? Being first is such a huge advantage that another platform will have to be way better than Steem AND grow exponentially faster than Steem to just break even regardless of what the dollar value is of the cryptocurrency today. This will be very hard to do because a lot of the people that would join a competitor if Steem did not exist are already on Steem as we are today. Some of the next epic failures I think we will see in cryptocurrency are the blockchains with the most speculated market value that fail to reach a critical mass of ordinary users. One of these in the next year or two will probably drop 99% within a short period of time as its top investors realize everything was just hype and there are no real users. Those investors will likely want something with proven value instead like Steem.
First mover doesn't always win. Remember MySpace, Friendster etc? Steem needs rapid growth in the next year and that can only come with the next hardfork that we are promised will allow easier sign-ups. Steemit has had little marketing so far as I suspect they don't feel ready yet, but we've seen other services get hyped and grow rapidly, e.g. Mastadon. I really hope Steem can make it, but I judge by results. I think this platform can change the world if greed doesn't kill it.
Steem not only needs growth to succeed, but also sensible and smart blockchain changes that would deal with major concerns in the Steemit community.
@Steevc, I prefer MySpace over Facebook. And if MySpace reverted to MySpace 2007, to how it was then with customizations, I'd probably spend more time there over Facebook & Steemit & other places.
I still have a MySpace and being first does help a little at least, maybe. Yes, Gab, Minds, and others, may surpass Steemit someday but it can still be tougher to do so just maybe.
yes i agreed with you. steemit should have worked in big marketing sector.
One clarification id like to make here is that there is a big difference between an account and a user. Steem may well have 1 million accounts, but the amount of active users is far far less (i believe about 60,000). I don't see that as an insurmountable amount of signups for a new platform. Also, take into account that of those 60,000 active users, a lot are shitposters, plagiarists and people just trying to game the system. A platform that can prevent that level of noise but still offer rewards for quality posting is going to attract a lot of interest and I would expect a lot of the quality posting members of this community to jump ship when that happens.
There are a load of junk accounts. Some may be intended for spam. Steemit Inc are supposed to be verifying new accounts they create. How will they handle when it's millions?
STINC isn’t verifying shit. Phone numbers are available for free in bulk these days.
I have written a point-by-point rebuttal of @jerrybanfield’s incorrect propaganda campaign.
That kind of implies that they are handling it now :D
If it gets to the point where millions of spam accounts are being created, it will probably be a case of, "abandon all hope, ye who enter here". Curating good content is hard enough as it is (and i'm pretty confident I spend more time than most scouring this place for good stuff). More spam might make we want to give it up completely.
(Nice to see another UK steemian on here :) )
There's a lot of Brits here. I've met a load over the last couple of weekends. I can recommend getting to a meetup if you can
As badly as they are now, no doubt, which appears to be badly enough that incompetence is no longer sufficient explanation and we have moved on to conspiracy and malice.
There are under 10,000 users on Steem. The rest are bots and dead accounts, with a spattering of users who stay for a week and leave.
Hallelujah! Finally found a comment that understands reality.
I have written a point-by-point rebuttal of @jerrybanfield’s incorrect propaganda campaign.
We need more of this =D
There only needs to be one other social media app that actually rewards contributors according to merit, and steemit will fall like the dark horse it is.
Indeed. How did you know what I was going to write?
I have written a point-by-point rebuttal of @jerrybanfield’s incorrect propaganda campaign.
@jerrybanfield , I may not be as an interesting steemers on this platform. I might missed some of the points but I really love to know how was your contribution to help out the new Steemers? So far I didn't see your contribution of helping those who need to learn to have a good quality articles or giving them a chance to reveal their talent through contest. All I see is that you are only interact with those who are already been so rich on this platform and you seem so scare to get along with those noobs or you might be afraid that your reputation will be ruin by them. I'm sorry. I noticed that you will never respond to any newbies comments .. have a nice day and hope you will be richer than anyone . Just don't forget..when you build a great Palace ... you need an army to guard your castle.
Why do you think he wants to help others? Because he is a good actor and con man?
I have written a point-by-point rebuttal of @jerrybanfield’s incorrect propaganda campaign.