The Death of Steemit or Any Crypto Social Media Platform – Are We Killing Our Golden Goose with an Unbalanced Ecosystem?

2개월 전
in dses

18 July 2019

I have decided to edit my post a little as I have used a few analogy inaccurately; so let me edit a little and improve it for better reading.

First of all I am truly grateful that my amazing friend @awakentolife has amazingly helped me to invite (indirectly) great influencers like @dreemsteem , @bluefinstudios, @thehive , @dronegraphica and @jackmiller to share their thoughts and frustrations.


Before my thought runs away from me, the moment I read the messages, I totally feel the frustration.

“I didn’t leave Steem. Steem left me.”

Actually I need to say this, and I am not pointing fingers. I have no intention to blame anyone, I am pointing out the truth.


Source

We are killing Steemit (and its SMT SCOT platforms) with an imbalanced ecosystem

It is a huge slap to everyone, including me.

What?? How dare you! We work hard to build this platform and community!

I am pretty sure you will be hauling this in your mind and probably throw it at my face, but I hope you would spare me some patience to see why I am pointing this out.
Since I am an unapologetic Jesus freak let me try to share with you what I learn from the Word of God a.k.a the Bible.

Don’t worry. No slandering, no finger pointing.

It’s really interesting when you start listening to it from the book of Genesis onwards and see how the Maker sees.

We tend to forget to refer to Him for wisdom how on earth He designed this balanced structure of the universe at the first place, and He’s trying to show us how destructive it will become if it’s not balanced.

Don’t worry. No NWO here. Don’t scream conspiracy theory at me first. Hold your rocks and stones and the shouts of “heretic” and keep reading.

I digress! Let me get back to the point.


My doodles and sketches

I vaguely sketched out with my limited (half awake) doodles and note taking this morning with my not very neat handwriting… and you have noticed that I have written some key pointers on how we are killing it.

(It’s a little small to see, I’ll zoom in with cleaner pictures below)

Imbalanced scenario 1

Take it at face value, if Steem was the planet Earth, the WHOLE ECOSYSTEM and Steemit was an unattended forest with no critters and animals, the whole place is infested with only trees, creating beautiful oxygen to the environment, but eventually, it is killing off the ground faster than it is recontributing to re-fertile the land, when nutrients are being sucked out quickly by all the roots that is cramping the ground.

But God, the Creator (whatever you want to term it, sorry, no big bang and evolution here), He’s good at balancing.

(anti-faith people, please hold your rocks and stones from stoning me to death with this analogy ya)

Let’s dissect this one by one with an imbalanced nature, structure by structure

Imbalanced scenario 2

Let’s say the Almighty knows this is not going to work for the Earth with just one type in the ecosystem. He created animals; Herbivores to be more precise, to counter ** imbalanced scenario 1**

Herbivores will consume the right amount of plantation and their discharge will contribute as fertilizer back to the ground. A faster process than decaying of planation no doubt...

BUT…

When there are too many herbivores consuming and the plantation does not have enough time to regrow, it will also kill off the ecosystem, because of overpopulation consumption.

Scenario 3 – possible balance

(excluding the critters and all other expects like natural fire, etc ok?)


Carnivores came into the picture, consuming herbivores that consume the plantation. In whatever natural / unnatural way the Carnivores will eventually die off and return to the ground and the planation absorbs the nutrients and keep generating new plants for consumption.

Ok. What the Heck… How does Steemit / Crypto Social platform come in?

Forewarned: Sorry to say, we content creators are not the centre of the universe.

Let's start with (as I have mentioned earlier) that STEEM blockchain is the ecosystem, the planet Earth...

The soil, that gives life a footing with its nutrients; the backbone where crypto value will hold there.

1. Witnesses


In my observation witnesses and the founders of the Steem blockchain are the planation, the abundant source that is producing the opportunity for us to create content freely with the rewards of the tokens (coins) in STEEM, SBD and SP.

2. Content Creators


We are the herbivores we freely and happily consuming the opportunity of this beautiful platform and its services and created this vibrant knowledgebase where members freely communicate with each other.

This is where many communities are working very hard and the human connection is restoring and reconnecting.

Unfortunately

Section two, like the herbivores, are now overpopulating with overflowing contents. Many of them are junk, manipulated by bots.

We are killing the plantation, the platform cracks, the earth is suck dry where value of the crypto keeps going downwards.

And I am not saying that the witnesses are all angels and saints. Most of them are not only content creators; they are also farmers and business minded traders who want to earn and sustain… including becoming rich.

Everyone wants to be rich to meet their needs. Let’s just not make one holier than another.
And now, we are missing the crucial “Carnivores” entity.

3. Commercial / Services

Nothing is being consumed or circulated further than witnesses (miners) and content creators (consumers), and this is going to die off very soon, no amount of #seven77 or whatever manifesto we are trying to pull off with JUST content creation will keep this platform afloat and turn it into a content junk-pile / landfill.

Steem blockchain (and its SMT) in my view are now becoming like a Federal Reserve Central Bank, printing and printing more crypto that is not reusable in mass adoption in beyond the walls of Steemit (and its supported UI and DApps) or crypto trading markets.

It doesn’t take a rocket scientist to realise that over printing becomes – inflation. It will eventually become the well-known Banana republic paper money in the history of WW2.

This is the part I digress and truly now appreciate why history is important. Ngeh. Should I know sooner I’d be a millionaire by now.

So how can we make STEEM (and its SMT tokens) worthwhile?

(this actually applies to any crypto social platform)

SET ASIDE POLITICAL STRIVE

Which I am feeling this is almost impossible with the sin of human nature. Shoot me. It is an ugly truth; because we are all skewed eyed, staring at one direction.

We need the missing element that could help (maybe) sustain this platform

Before more disgruntled influencers cry take flight because it is no longer sustainable.

How?

I am not admitting I have the ultimate answer, because I am not a professional in this sector. But what I have learned as not only a content creator but also a hustling mini entrepreneur wannabee I encountered the crucial missing part.

What if we start shelling it to business owners who are already adopting the Crazy Sales drive by many e-commerce platforms out there?

Steemit / other steem-blockchain backed social media platforms doesn’t need to be an e-commerce site, but it is a good source for business entities to advertise their content here (just like that they do in mainstream social media), and I think this is what @share2steem has been trying to achieve.

Take example in Malaysia what our telco / services and e-commerce platforms are trying to build together (and competing)

  • Grab is getting people to use their platform and earning points, and then using those points
    are exchangeable for commercial purposes!

Take another example I just enjoyed for my company
(yes. I have a day job. Or else I will starve to death)
Digi (a telco) started their rewards structure many moons ago, and with that, they one of them recently is to hook up with MBO (cinema) with discounted movie tickets should consumers use Digi services to buy the ticket.

What if in Steemit, there are business entities who are already giving out voucher discounts to trade with content creators’ steem / sbd / tokens so that they can enjoy some benefits from these business entities?

The one thing we did wrong in #teammalaysia

We tried this method with @bighugin and @veenang ‘s tourism services. But we took it too soon for full crypto adoption. Instead of vouchers for cheaper purchase, allowed full payment in crypto (which is volatile) an business entities like these cannot survive.
For example as I have scribbled...

  • What if business entities (for example) offers Steemians to exchange their tokens for special discounts visiting their premise?

Like… 1 steem entitled for 15% discount out of the whole bill?

(it can be different, it depends on the business entity’s creativity)

Instead of blank voucher from the business entity, now this entity holds a crypto, where it can be either re-invest back into the platform (with their own accounts and power up) or just burn it to @null as part of the sales motive?

And probably this is where volunteer marketer steemians like @karinzdailygrind once approached me how to go about this.

Sorry Karin, it took me so long to figure this part out, with so much trial and error.

Let’s face it, the day the platform is monetary based, we got to think about the commercial / business entity.

I am not saying this is a bulletproof method to keep a monetised crypto (blockchain) supported social media platform afloat. As long as there are human stake holders (witnesses), there will always be greed, and there will always be politics; because it’s a fallen world.
(Please...I don’t want to preach it holy moly, but you know the ugly truth)

But, we need the Carnivores in the ecosystem.

Or else, ANY PLATFORM will die.

We can just set aside personal preferences and look at this as a whole and get our heads together and start fishing this missing entity; unless we keep pointing fingers to the founders of the platform that it’s a shithole (pardon my language) and just whine that it is no longer valuable and abandon ship...

...to another pasture and suck it all dry again like any consumer; just like we humans are being
accused of (by the SJW and the NWO supporters.

Oh! I can seem some snowflakes feeling fuelled with anger.

Sorry to burst your bubble 777 crew, ulog crew, it’s great to get content creators to keep making great contents, but this ain’t gonna budge the commercial sector, investors in trading might just going to come in and yes, temporary boost the value; but what happens next? Have you thought about it? You might be happy and reap the benefits short term, but what happens if investors see the high value and start selling it fast and make it volatile?

This actual is not a bad idea; but this ain’t gonna make it stable – long term.

I am pretty sure it is not.

Sorry that I am slapping your face straight on. I am very critical thinking today. Feel free to enlighten me your long term plan / stone me to death if you feel insulted.

Because I have been noticing unkind chatters under these manifesto, and no, I am not going to sell out people. But this is the truth, and we can enhance this better with what you already have if there’s a stuck in encouraging better contents.

And we need all the help we can get to keep this afloat, and the first step is to wake up and face the reality.


If you have survive the entire reading before flagging this article out of disgust, congratulations; and thank you for being patient with me. I would like to apologise for being blunt, but my good amazing friend just shared with me yesterday,

sometimes, you got to be harsh to tell the truth.

I am sorry that I have been dwelling in my own depression for too long and lost track of my zeal why I love this platform, and let this rot in the hands of an unbalanced ecosystem. I am also in need of paying my bills and no doubt that this platform does wonders to help me to stay at least nose above the flood just enough to breathe, and because I love this platform I truly hope that before #steamfest4 is here, there is something that everyone who are passionate of this platform can put their heads together.

I have seen this happened in TSU. I really hope it will not happen in Steemit (even though the taboo of Steemit taking similar colour of TSU’s colour).

Why am I starting to feel taboo with aquamarine colour? Haha... just kidding

I hope to hear your thoughts in this, and hope this will stir some conversation. Maybe if PYPT still exist, we can have discussions about it there.

Until then

HQ @littlenewthings

#dses initiative member.

A technology can come and go; but when a lifestyle is applied to it, it becomes a new revolution.

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I've read this through twice now and I have to admit, there are so many analogies in the post I maybe have missed a lot your points. Your main point seems to be there is a lack of business on the STEEM platform. There are business models on the platform. If you are in doubt of that maybe talk to the Steem Business Alliance which requires a business model for membership.

Also, Steemit is not the platform. It's a frontend or the blockchain development firm depending on how you are using the term. Steem is the platform/ecosystem.

Unless a person is powering down and cashing out their Steem constantly, they are stakeholders. We are stakeholders, all of us, it's just a question of how much stake we have.

Witnesses are not all whales or large stakeholders. Some of them are.

Sorry, I'm not trying to be critical but if you want to do an analysis, the terms of reference and understanding are important.

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Hey taking the time to read through twice.
Yes I a know Steemit is a front end, that is why my title and intro picture was STEEM, not Steemit.

To me, Steemit is the first platfoem supporting steem and its build up. The plantation is the steem.

The compiled knowledge base Is Steemit.

My concern is not the Steemit business department.

But I am pointing out that we are missing the business sector to keep steem blockchain alive and steem valuable for the long term.

Steemit is just the first phase, where witnesses are supporting the blockchain content creators' content and interaction with all the ledger created.

But this is just one part of the ecosystem. As stake holders kept holding and content creators keep writing, there is no healthy input of outside fiat source to make STEEM / SBD valuable, because it is not expanding fast enough.

So in summary, we are generating a lot of crypto that eventually is not circulating healthily because even for all of us who needs to pay bills and feed ourselves, the limitation of steem is now either sell it back to steem blockchain users (social media or gaming) or trade it off in trading for a stronger crypto to hodl or fiat to put food on the table.

I am not say what we have is not good, but we are missing the mass adoption to make steem like BTC, where when it was first introduced, it already targeted commercial sector.

(to understand more what I am saying you can read my previous article) 🙂

Imagine if steem value actually holds something to someone else in the real world sector (not in trading) and steem is beginning to be used beyond the context of gaming and social media platform and it monetary value rises, the witnesses should have no problem happily sustaining this backbone (blockchain) because they can pay the bills with what they are doing now.

I bookmarked the post so i can read it again later. For the moment, it's all way over my head... ;0)

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Haha. Not a problem.
Let me just simplify here.
It's great that we keep building the community to create the excitement for a wonderful crypto backed blogging platform, but when the rubber meets the road, when people need to put bread on the table, it is time to look into opportunities to help this currently building community who has needs to feed their tummies

Posted using Partiko Android

People in general have one question
“What’s in it for me?”
Even when it comes to religion (😉)... we do good to gain favours from the above/the afterlife
Something’s got to give right?
There’s no right or wrong to it, it just is

So with that in mind, your analysis of the system and to make it valuable does have merit

I can think of Touch’n’ Go that’s on a massive campaign to convert all of us into using their e-wallet
If you want to buy tealive at half price, use their wallet
If you want to watch a movie, get two tickets free using their wallet ....

There are so many other ways
I believe @actifit is already working on being able to buy sports apparel and the like
So there are ideas already percolating

It can be done of course but It needs marketing
Needs people working on it proper, to step out of the SteemVerse
If you have an idea, propose to The SteemAlliance perhaps?

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Thanks for the encouraging reply @kaerpediem and probably that is why the demographics from the survey is crucial.

You can't present a case without data.

And those data has to be done with honesty.

If you know any #teammalaysia members who have slip off the radar recently due to the crypto winter or different season of life, get them to go do the survey if possible. That is the first step 😊

In regards of religion, you are right, you got to work to get something.

The religion of rat race and the world context of what it is in for me is where it is fueling from.

The thing is. I detest religion.
But faith is different, because...

Notice when you have faith in something you no longer strive to work towards your rewards?

You start to work from rewarded angle (even though the rewards are not there yet) and you reach out without strive.

And that is what my faith fuels me.
(and His name is Jesus 😜)

(I digress!)

so let's place this faith and religion setting to our current community and the blockchain:

If we want to place in the context of Steemit community building for #teammalaysia the last 2 years, look at those who had faith in the community, (or any other strong ones in the Steem blockchain) you don't see people work towards for reward, you work from the love that you already received.

That, is the big difference between religion and faith.

Let's not lead our members continuously working from the religion of earning Steem, if we want to take this to the next level.

Make sense?

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You can lead the horse to water
But you can’t make it drink
So now got to make the horse thirsty 😉

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It's already thirsty haha.... Look at how Steem sliding off the charts lol.

Posted using Partiko Android

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🤪
♥️

#pypt does exist and @shadowspub would love to see you there, I'm sure!

Though I don't post anymore, I still comment and encourage and attend #pypt :)

While we probably won't take up the show time to talk about it (because it's a very big discussion and the show is intended to promote everyone's posts) maybe there can be some good discussion after the show!

Talk to Shadows and see :)

I think you have great points that are shared by many others, but ... As I said, it's not doing much in our heads if they won't adopt the ideas and implement them.

🤷

But you never know...

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Good to know that #pypt is still alive and kicking.
I have been out of the game for far too long and it is about time that some brainstorming comes back online for my head. haha.
If that is an after party talk, probably I'll need to contact @pennsif too... except I just noticed that his father just passed away.
Will maybe look out for him for chitchat later.

Dear @dses

Great publication and solid read.

Indeed it crossed my mind number of times, that current ecosystem is simply not going to work well and it's cracking all over the place already. We're all here on Steemit heading in very uneasy direction.

current unbalanced system resulted with constantly growing supply and steadily vanishing demand for STEEM token. There is almost no incentives to stake your holdings. It doesn't allow to get more exposure, more visibility. It's only benefit is related to huge ROI. That's unfortunatelly not a very sustainable ecosystem.

Yours
Piotr

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Hi @crypto.piotr thanks so much for stopping by.

I belive the bots for a while did serve its purpose, to have more exposure through boosting the post to trending, yet oftentimes that because the post was not organically read by people here is causing the exposure limitation.

When members are driven by easy money generating, the laziness will pop in.

The interesting part with the new influx of SCOT tokens that sits on the steem blockchain appearing, you will see more and more people start to read based on their category preferences, that could resolve the exposure limitations to the right readers.

However, this does not resolve the issue when our coin and tokens' usability stops within the social media platform and the furthest, trading.

It is not recognised in the real marketplace and authors with the incentives have no where to spend it except staking or selling off for coins more tangible or fiat, to put food on the table; especially for grassroot folks who are financially challenged and they came here to find extra income.

And this missing part is crucial because to keep this blockchain alive with real exposure and authors, you will need the whole ecosystem.

Interesting authors, interested curators, and practical real world circulation, and they go hand in hand.

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hi @dses

Thank you for such a prompt reply :) Amazing comment. Appreciate your time.

I wanted to make some suggestion.

My impression is, that the hardest part of attracting attention on STEEMIT is the fact, that our audience have very little chance to actually find our publications. Lack of solid notification system is an obvious issue. And regardless how hard I would try - there is very little chance I would find out about your new interesting publications (my feed is just flooded with to many posts).

Please allow me to share some suggestion with you. If you would ever publish content related to blockchain, crypto, artificial intelligence, psychology etc. then perhaps you could simply send me memo with link to that post.

This way not only I would have a chance to read your publication, but I will also upvote it right away with 20k SP voting power. If I would consider it interesting then I may also share it with wider audience.

Please let me know what do you think. This surely should sound like a interesting offer :))

ps. I also have some decent stake of PALnet tokens, so my upvotes may bring you some extra reward. Assuming that you have account on PALnet. do you?

Cheers, Piotr

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Hi @crypto.piotr

It does sound like a good idea, but probably I would do that on the main account. This account I am now dedicated to send out dividends every 3 collection from the DSES steemit wallet to the delegators that you have so kindly referred to.
Meaning from this year onwards delegators from your referral will get some steem crypto instead of accumulating SP in the stake because this seems to be a little complicated with the calculations and I think your friends @boxcarcube , @majes.tytyty , @devann and @mariusfebruary will have something in their accounts once a while.

But I will definitely consider your proposal should there be crucial posts like what we are discussing and needed more feedback.

It would make more sense because I wouldn't want to waste your time reading posts that might not need more discussions. :)

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OMG, very well researched about the whole Steemit's ecosytem @dses

A full upvote for you!

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Thanks @good2believe

The Steem blockchain is almost 4 years old now, and it is ripe enough (with a sort of solid crypto generators) for real world adoption.

But we are missing that crucial piece of the puzzle still. It is building on different sectors, but still not real world enough.

Hope that make sense.

Posted using Partiko Android

Hmm introducing 'Carnivores' to control population? Perhaps letting it naturally perish and reborn is a form of 'carnivore' process? As the cycle perpetuates renewal.

What are some of the acronyms mean?

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Neh. Carnivore process is still an unbalanced ecosystem.
Everything has its part.
One cannot be missing over another.

Imagine your world is nothing but carnivores.
It won't last a day and it will become a waste land.

Make sense?

Which other acronyms are you referring to?
List it down. I'll try to expound it 😁

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I was simply equating carnivorous process as the by product of an unbalance ecosystem. Yes everything has its part and one isn't missing over another. Too much of something (abuse) is detrimental. Therefore destruction balances creation. Hope I didn't misunderstood the message in your article's trying to convey.

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The problem is, the carnivores never existed in the steem ecosystem.
The herbivores are devouring the plantation.

These are "healthy carnivores" we are missing, not the abusive bot services if you are referring to that.

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In the beginning, bots are good. As the herbivores kept devouring plantations I am imagining fat, sluggish, lazy and slow 'snorlax' appear. What are the potential candidates for "healthy carnivores" (consumers) of steem? Gamers, advertisers, students, digital or analog service proprietors.

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Bots were supposed to intentionally get articles that deserved to be noticed boosted up, just like Facebook ads, but when people started using it as an ROI, the abuse starts.

Gamers, I would imagine them as critters, their dietary consumption is limited, unless they are the waste management superworms.

And gamers and students are not commercial sector. They are still consumers.


Let's switch it around.

If you are the lay herbivore (not trading expert) who has a bunch of Steem that you do not know what to do about it, say, like @hooiyewlim, classic case. He needs food on the table.

What range of commercial sector can benefit him if they are interested in absorbing Steem like a point exchange program for needs like cheaper groceries, affordable rides and meals, etc?

What do an average person needs?

Those are the missing entities in this ecosystem to make it stable.

Make sense?

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