Can Facebook or Google buy Steemit??
Hello Steemers,
As of now our steemit community has ~181,000 total accounts and ~10,000 active users (see here), this is a day over day increase of 2% in new accounts and 23% day over day increase in Active users.
If the pace continues, then Steemit will hit a million userbase mark in the matter of months, and you verywell can calculate the cummulative growth then.
With such a massive growth, do you think today's giants like Facebook or Google will simply ignore this space?
Lets look at some big ticket acquisitions in the recent past.
- $1B - Facebook bought Instagram with 30 million users in 2012
- $3B - Facebook pitched for Snapchat with ~35 million users back in 2013, the deal didnt happen but you realize the potential
- $19B - Facebook bought Whatsapp with 450 million users in 2014
One thing that we understand from these acquisitions is Facebook want to be social media king, whatever the prize may be.
Steemit is one such growing community which is just over 1 year old.
So now the question arises
- Can steemit be bought? Given steemit's business model and decentralized structure
- Or can Facebook or Google buy majority of Steems from exchanges and claim the ownership
If this is possible, it can give Facebook a foot in the door to enter cryptocurrency world through social media route.
Dear steemers, please help me understand the extent of possibilities
Or please resteem so that we can get the right answer - crowd intelligence
Or maybe it'll be the other way around ;)
I like the way you think
As I see it there are two options for competitors:
If Steemit grows large at a rapid rate in this niche and becomes big enough, competitors would be interested in buying it up to gain all the followers and impement it in their own system.
If Steemit grows at a slower rate and just shows a good potential but does not take of,f the competitors might as well just copy the idea in their own system. which is very likely just think about all those likes in FB being converted to crypto currency.
Currently using Steemit for a book project check it out in my blog:
Millionaire Shortcuts: Money should just be a byproduct of your goals in life
well said.
The #whales doesn't want to give a chance to @facebook because they gain more than billions in cash using the benefits of cryptocurrencies. I am right @steemit @ned @dan @val-a @smooth @berniesanders @ben and others.. ?
Really a good question here. Unfortunately, I am at the bottom of the totem pole and under the dirt when it comes to knowledge about these things. Would love to hear more about what people have to say.
In my own opinion, i think Steemit should just find their own way of scaling without selling to any of the tech giants. The idea that steemit is bringing to the table has changed the common way of how social media works, that anyone can share, interact and at the same time get some income is revolutionary.
I think steemit should not sell at any case.
Theoretically, I guess they could purchase Steemit and monetize/ad-infest it however they like. However, they wouldn't be able to directly control the block-chain. Would they be able to modify rewards, or directly impact price by preventing cashouts, etc? These seem likely possibilities.
That'd be cool, but who knows; maybe Steemit will raise enough capital to buy Facebook.😂 Its a long stretch but hey.
I don't think Steemit would actually do that.. that's so anti-steeming... I can very well guess how much creators of steemit must be facebook averse
Thats for sure, this platform is genius.
I'm going to comment just to see what the big brains have to say, but it's an intriguing conjecture. All I know at this point is steemit is 'taken over' I'd be outta here!😎
that's a very interesting subject
It is very interesting, I wrote on this subject too: https://steemit.com/steemit/@steve-speaks/steem-is-gonna-boom-or-will-be-doom
I believe it can happen of course, IF they see it in time. It could also well be that they set up something for themselves or join forces.
A construction like Steemit has already been used by Youtube (creators get paid) but is much more complicated.
Just read your article - interesting thought I would say... Going by historical trends, Google wont create its own 'Steem' but would go for buying one... Like Google bought Youtube...