You are viewing a single comment's thread from:

RE: Discussion - What are reasons investors avoid STEEM?

in #steem6 years ago

Hi there,

Myself, I've been in crypto many years (mined BTC on graphics card) but only recently discovered, by accident, that I had a Steemit account. I googled something, clicked on an article, it brought me to Steemit, and then I noticed I was 'logged in' while on here. Before that, Steem was never on my radar.

So in my month on here what are my thoughts:

  • I've considered buying/adding steempower, but have decided against it (for the moment). I've only seen the price go down. The ponzi aspect quickly came to mind. The circle-jerk aspect sucks. The social platform aspect is missing the 'social' aspect for the most part, most are here for making money and because it becomes all too easy to work out how the platform is 'gamed' (or how the game is played) you quickly realise your posts will be ignored unless your reputation is 60s or 70s.

So what's the point to hang around? Over time Steem will become more and more centralised in only a few hands.

That's not a community; so most walk away.

Investors aren't idiots, with only hope of riches to come, so they shy away.

I also think Steem may have an identity problem at the moment. How should an investor view Steem:
(A) is it the blockchain that supports a social platform - where writers, photographers, ordinary folk etc can come and socialise, blog, vlog, make friends, have fun. Is is the new alternative to FB, Twitter, reddit etc; or
(B) is it a high tech protocol, that other apps can build on top of. Is it the better alternative to ETH, EOS, Bitshares etc; or
(C) is it trying to be everything.

For those who (1) are in the know and (2) have somehow broken through the initial hard slog -> I'm sure they believe in the platform and how it will ultimately end up successful. For those looking in now - it is not what its cracked up to be.

Thanks for reading (if anyone does)
😕

Sort:  

You are quite perceptive in your short time here.

Thanks.
It's really no different to issues other platforms have - each have similar aspects.

Steem/Steemit/Steemd/DLive/DTube/SMTs..and so on and on... it's too much. They all face similar problems is use-case: the rich get richer while the minnows struggle. Where is all the value of Steem coming from exactly...

Whales have to eat, and if there's no minnows/plankton around... then they die. Seems the initial feast is over and the rate of starvation is starting to accelerate. Some see it and are trying so hard to plan ahead (this is a great post by @timcliff in this regard), while others are still basking in their fat 'success'.

Where is all the value of Steem coming from exactly...

I'm waiting on the highly reputable whales to lead the way and show us struggling minnows! ;)

It will be interesting to see if you stick around and decide to invest on here.

Yes... we groundfeeders are all waiting to see the 'light'. lol

Hopefully there will be a major shift as to how things work - I'm not too familiar with HF20, but it seems that there is acknowledgement change is needed by the powers that be, hence HF20 - fingers crossed :)

It is option A. It is not at all like Eth. Bitshares has many assets. Steem only really has a couple hard coded ones.

I think most are of that belief too. I personally hope it can grow more 'social' - it can really be something if it works out.

Thanks for stopping by, commenting, and socialising :)