RE: Open letter to Steem stakeholders: What adds value to Steem?
In simple terms other than building a great content delivery network, with lots of views, with a well rounded community....
There has to be 3 reasons to BUY STEEM:
- You want to trade its volatility for a profit
- You want to earn interest by holding Steem Power
- You want bigger and better voting rights
We also have to look at fungibility.
If you consider it takes 10 minutes for a Bitcoin block, and 2.5 minutes for a Litecoin block, and only 3 seconds for a STEEM block....
STEEM could, and should be more fungible than it is...
Which means more exclusive products and services that take STEEM as payment, which makes it desirable to use and hold.
Some ideas for that are:
Easier wallet both mobile and desktop for making transactions
Easier merchant integration. Especially for Woocommerce and other Wordpress websites
A "Hot" random expose of products for sale on the main steemit website. For instance "most popular product" add to cart / "randomized product" add to cart
More meetups at public events. Getting some sponsors on board who want exclusive advertising. Ie: The "official soda of Steemit" or similar.
..but it has to be fun, and not seen in a gross marketing / advertising way.
Once you have a large enough crowd, you instantly create opportunities as long as you have enough infrastructure ready to support it.
Consider a strip mall, or local shopping plaza. As long as they have a bank in that strip mall, that brings traffic. Traffic will also visit the other smaller stores in that mall too.
Each one depends on the other. :)
Let's revisit this post I made 2 years ago on steemit.... that saw a need for what I was saying back then even:
https://steemit.com/steem/@intelliguy/let-s-use-steem-and-consume-it-in-our-new-steemit-shop
Steem is a currency. The question of the long term value of Steem will be determined outside of SteemIt.com. People will start seriously buying and using steem when it is used outside SteemIt to buy real world goods.
The actual value of SteemIt.com is driven by the reward formulas used by Steem. My post for today points out that SteemIt is driven by a seven day cycle. The activity I do today can get rewarded. The post I dropped 15 days ago cannot be rewarded.
15 days ago, I blasted out a post titled The Thermodynamics of Steem . This expressed my fear that SteemIt currently has too much of an internal focus. The reward structure focuses our attention on new posts by whales.
My conclusion so far is that the reward structure dictates that SteemIt should be seen as social media platform. Steem, of course, is a currency. The long term value of steem is for its use as a currency.
The system is not an ideal publishing platform.
I agree with everything you said except the last item:
Due to its decentralized nature for posting, and allowing its content database to be read and re-published by anyone... It is an ideal publishing platform "for sure".
The rest of your points are very valid though. :)
https://steemit.com/utopian-io/@therealwolf/steem-chat-wallet-v0-1-1-previously-steem-messenger
Sorry, but your 3 reasons to buy Steem is lame, I'll rather buy NEO in that case.
I believe the delegating of SP to bot give reason to investors to buy Steem and hold to SP.
For me it’s not about ‘buying’ Steem or its fungibility! It’s about earning Steem by blogging/posting original content. Do that, and rest will take care of itself.
Most of it will take care of itself. Just not all. We're at $2.37 now. We could be well over $5 with some more roads to Rome. :)
I guess what I’m trying to say is, our goal is not the value of the token. It’s embodying our Rome - Steemit - with a reputation for quality original content on all subjects. That’s our goal and we don’t have to wait for anyone to do anything before we start. Steemit! It’s now!
If no one buys it it's value is going to go to zero.
But someone needs a reason to buy it. Without that no one will. It’s the original content that gives it it’svalue. Take care of content - the basis of value - and the value will take care of itself.