I'm very happy that the price of Steem has been going up while I've been cashing out here at Steemit. I've been able to buy much more Simple Token! :D
I think Simple Token is going to do what Steemit promises and that they will do it tens if not hundreds of times better.
I thought Steemit was a great idea, but the execution has been terrible. The spam, the bots, the fact that voting favors the rich and not actual good content, has proven to me that the Steemit organization doesn't have a clue how to run a real social network.
Honestly I'm sad about it because I wanted this site to succeed, but unfortunately this site is really just an eloborate scam. I'm so happy I'm moving my money out and over to Simple Token. :)
Check them out!
@trevorlyman, I don't see how Simple Token is a Steemit Killer. It's not a social media platform.
But if you're talking about Steem (not Steemit) then I can see where you're coming from.
The social media platform on Steemit will never go anywhere. I'm not sure how long you've been here but you'll figure that out before long. To give you a hint, it's a terrible experience to go to a site that rewards content because it's creator has money in the system, rather than rewarding content because it is good. If you think the "best" content rises to the top on Steemit you are very mistaken. I mean, have you seen the Asian girl making hundreds or even over a thousand dollars for posts on food? Come on. That can't last. It's not real. It's a manufactured result.
Add to that the spammers that are stealing money and the bots that rape the reward pool as well (and the fact that those bots could be being run by the sites owners - who better to know how to scam the site?), and you'll soon understand that Steemit simply scams on the little guy for the benefit of the Steem-Rich.
Steemit's only chance to be something was going to be via making tokens for other companies but with the Steemit social networking platform as it is, that's never going to happen. No company is going to want a bot infested, spam riddled, reward shit content system for their community platform. And it especially won't happen when a company like Simple Token (and there will be others) is going to do it tens times better.
I said it over a year ago I think, that another company was going to come along and do it right and that Steem was missing an opportunity, and now they are here. Too bad, but at least we now have better options for our money. :)
@trevorlyman, thanks for the in-depth reply. Just want to reply to a few of your points.
"The social media platform on Steemit will never go anywhere."
Steemit is rather young so I'm not willing to count it out yet. I'm giving it a few years to workout its growing pains.
If you think the "best" content rises to the top on Steemit you are very mistaken. I mean, have you seen the Asian girl making hundreds or even over a thousand dollars for posts on food?
No, I don't think the best content always rises to the top on Steemit. The same could be said for Instagram, SnapChat, Facebook, YouTube or Reddit. We can find examples of the girl posting food picks on every platform.
Add to that the spammers that are stealing money and the bots that rape the reward pool as well (and the fact that those bots could be being run by the sites owners - who better to know how to scam the site?), and you'll soon understand that Steemit simply scams on the little guy for the benefit of the Steem-Rich.
Yes, I agree that spammers & bots are a problem. But as I said earlier, this is still a young platform so I'm willing to give it time to correct.
So far I'm really enjoying my time on Steemit. I've found some interesting people to follow, enjoy the growing pain drama, and like interacting with the community in general.
I think Steemit (with all its chaos) is a better fit for my personality type than other social media platforms. That's why I don't mind the bad parts of it, and am willing to invest a few years into the platform to see where it goes.
HODL :-)
Good luck!
"The same could be said for Instagram, SnapChat, Facebook, YouTube or Reddit."
No way. Not even close to the experience here.
Thanks @trevorlyman!
Not sure if you've looked into Reddcoin, but it looks like a promising social media token.
And the price fell and fell and fell...just like the mean trevywevy said it would, because this same exact cycle has already happened several times. hahahaha
But I will say, if the price keeps going down, and goes under a dollar, buying and holding might not be a bad thing. As I said, this cycle seems to be on repeat. I would also keep your funds out of SteemPower so you can cash out immediately when the price pump happens. I'll probably do this myself.