Can Steem still be successful?
The dust is starting to settle from the chain split, can steem still succeed?
Here we are several days post fork and steem is very much alive, though it may find itself clinging to life support in the not too distant future depending on where things go from here.
It's certainly not dead at this point, but the future direction remains unknown and uncertain.
A large portion of the community that values decentralization is now gone, taking with them their resources and assets.
That may sound like a big deal at first, but it may not be. Yes steem lost a big part of its previous community, but we are talking about an active community of maybe a couple thousand people.
A very small number in the grand scheme of things.
If Justin Sun (@justinsunsteemit @steemit @misterdelegation) plans on building value here, it is entirely possible he brings in an entirely new community, one that could easily dwarf the previous one that just left.
The big "if" in that though is whether Justin actually wants to do that.
So far we have some vague statements suggesting he might, but that is it really.
Steem is currently valued around $50 million, likely soon to be less as the people that left are soon able to sell more of their steem for hive.
That valuation is a very small amount in the grand scheme of things.
If Justin decides he wants to make this a success, he still can, regardless of what has already happened. Watch how quickly a soaring steem price fixes all sorts of problems.
I believe steem probably likely needs an overhaul though to be remotely sustainable.
For example, we need it to generate revenue, which in turns buys up steem.
Using ad revenue to buy steem is a great business model, especially if you can get enough people using your website to the point where that ad revenue becomes substantial.
The higher the price of steem goes, the more people will come, which will further inflate the ad revenue.
It becomes a positive loop which keeps building on itself.
Anyways, to answer the question at the top, yes I think steem can still be successful, but it all will depend on Justin Sun and what his plans are.
Some are certain he just wants to dump his stake and be done with steem, I am not so sure.
There is still a ton of potential here, it's just going to take a dedicated and well resourced leader to make it happen.
Justin Sun may or may not be that leader.
For those still holding on to steem, I sure hope he is.
So, lets here it, what's your plan Justin Sun? The future of steem and steemit likely depends on it.
Stay informed my friends.
-Doc
I really share with you the idea that the direction that steem takes in the future depends on so many things, one of the things that depends is what JustinSun does, he as current leader because of the purchase he made of steemit must communicate as soon as possible what are his plans to follow, we still bet that the steem platform can have value in the future we need constant information of the plans that will be executed, even that we are actively involved in these plans so that we all together put a grain of sand in the reconstruction of this platform, I also share the idea of @xpilar in the personal my wishes is that the two platforms (hive and steem) are successful each one separately, I think that it does not have to be necessarily the failure of one for the other to succeed, I think it is time to put aside the grudges and work for a better future, time will say the last word, I really am very eager that Justin Sun makes a publication explaining his new plans.
Greetings @jrcornel and thank you for sharing your ideas and thoughts about the future of steem
Hi @jrcornel
It is difficult to predict the future, but there is still good activity here.
Many people probably think that grass is greener on the other side and almost everyone has doubled their symbols, but will they earn more there? too many move for the new symbols and for it is about money. Time will show it
I hope both chains will do well
It really just depends on what Justin Sun's plans are for steem. Does he plan to build value here or just cash out as quickly as he can? He has said several times his plan is to build value here... there is still a ton of potential for him to do just that, even with all the drama that happened over the past couple weeks.
There has been a lot of server issues after the hard fork on both sides... Obviously that is because some of the Steem nodes switched over to Hive chain, but those need to be replaced and that isn't easy when the blockchain is so big that syncing requires more than 1 TB of disk space and 5 times more memory than most development machines have.
You should get setup as a witness on here... It pays 350 steem per day, and you have the technical abilities for it. Perhaps we could even run one together?
I don't have enough disk space to run a witness node.
Get a new system? 350 steem per day adds up...
I just bought the current PC 4 months ago...
Perfect time to add another one...
I buy new PCs every 20 years, not every few months... I don't live in capitalist world where money grows in trees...
My personal feed has a lot of good contents today to read on Steem!
I'm still using STEEMIT
Hello dear @jrcornel, thanks for this publication, it is a great analysis and something that many of you do not dare to do because of the uncertainty of not knowing what will happen.
Will you stay in steem?
I will continue to hold some yes. I would like to see some clear and specific plans from Justin Sun though to get an idea what is the future may hold for steem.