I've been apart of the Steemit community for a few weeks now and have really loved the idea ofthis platform. It creates an entirely new concept for creating and monetizing content. I've had an absolute blast creating content and interacting with the community. As someone who has never been huge on social media, Steemit has really drawn me in with the great content and crypto focus.
That said, I had a few questions that I was hoping members of the community might be able to enlighten me on:
Questions
How does Steemit as a company plan to make money? I understand that the STEEM tokens and dollars are economic vehicles but, once crypto gets mainstream and some of the speculation dies out, are the Steemit God's planning to find advertisers or fund the business off the selling of STEEM?
Has anyone else encountered bugginess and slow response from the Steemit webpage and the esteem app? I assume this has to do with the recent upkick in new users but, was curious if the Steemit team had addressed the issue?
Is there a long term plan to address the spam bots and upvote/resteem bots? I understand that some bots serve a purpose and it creates a new form of service industry but, it seems like an inorganic way to reward content, rather than letting the good content shine on merit alone.
I've seen that it takes quite a long time to get an account these days. Is this to make sure server load doesn't get to bad? Or are there other reasons for the account creation delays?
I know that Steemit also runs D-tube so, they have a long form blog type service similar to Reddit (Steemit) and a YouTube competitor (DTube). Are there plans to add a Twitter like service?
Thanks in advance for answering a few questions from the new kid on the block. Happy Steeming!
I'm just small fry here too, so I don't have any answers, but I've also experienced a lot of bugginess with esteem :(
They may plan to make money from companies who want to build off the blockchain. I recently read about a company planning to do that in order to connect clients and independent contractors while operating under an open ledger. It's an interesting idea!
Good to see you again @helenoftroy
Yeah, I just assume the bugginess is part of being a new platform.
So, renting out the Steem blockchain or something? Or creating forked blockchains for companies?
Remember to stay away from big wooden horses, lol sorry I had to...
I picked up what they're doing, not really on how they're doing it. But I'm sure you could find out more. The company was @bobsrepair. And I just found the article.
LOL, the big wooden horses aren't the problem, I just make sure to stay away from anyone named Paris.
Thanks for pointing me in the right direction, I'll be sure to give it a read.
These are excellent questions. Questions we all should be asking. As steemians we are investing our time and energy into the system it would be nice to know what the game plan is for the future.
You are concerned about the value of STEEM currency petering out after cryptos go mainstream and the hype keeping many (if not most) of the Altcoins afloat will fail. I beleive that compared to most coins out there some of which are blantaly built upon false premises to lure in the Crypto Happy investors, that STEEM actually has potential to rise up with the big players.
I have seen other monetized social platforms. Steemit is head over heals ahead of the rest when it comes to value and integrity. The spam bots are a little annoying and as a democratic society we must do our part to downvote these. This is what the power of blockchain technology is based upon. The power of the masses striving towards fairness, goodness and equality.
As for monetizing, a solution may be creating functionality the same as Oyster Pearl (PRL ) every user of the site agrees to give a little hash power to the crypto in exchange for ad free use. They advertise "Revenue in one Line of Code" https://oysterprotocol.com/
Steemit.com has excellent SEO. It is how I happened upon the site in the first place. This combined with a revenue per usage model has the potential make us great(er).
Oh I absolutely think STEEM has value after all of the hype is dead. DTube as a good alternative for YouTube especially. I think Steemit is here to stay, if we can get the social aspect (comments, conversation, etc.) To be site wide, not just as an effort to get the attention of whales. That's the reason I like to browse the New section rather than trending. Great place to start good conversations about interesting topics.
First I've heard of oyster chain, that's a pretty cool concept. I'm still trying to wrap my head around the way the blockchain theoretically changes economics. It looks like it could be so different from the way business has traditionally operated on the web. Real excited to see how it all plays out.
It changes economics on such a big mind blowing scale it is almost unfathomable. Once you become familiar with the concept of the valuation of "smart contracts", the query will not be how to get your head around how it all works but how to get your head around the fact that ecomomics as we know it will be left in the dust.