AskSteemit #6: What are your thoughts about the future of Steem?
Hey everyone!
With Steemfest now being over and me still regretting I wasn't able to make it there this year I've instead spent a lot of time watching the livestreams and the videos of them afterwards. I have to say I am very excited about the future of the platform and currency.
In case you haven't watched them yourself I really recommend to take the time to do so, the videos can be found on this youtube channel where last years ones are posted also.
The speeches I enjoyed the most were the starting one from @ned and the fireside chat, the one from @sneak, the devpanel and @hansikhouse talking about the Korean activity on Steem and the one about @sndbox which he runs with @voronoi.
Some really exciting stuff are coming up in the near future and I personally can't wait for it. As an altcoin enthusiast ever since Dogecoin was released I'm getting that same feeling I got when projects were starting to be built on the Ethereum blockchain. It feels lately like a lot of users forget just how young Steem is and only compare the price to other coins who most of the time have either released their total supply already or are close to it.
What stuck with me during the speeches the most was the addressing of previous concern about witnesses being able to handle the nodes and how the developers are working towards improving that by making some actions on the blockchain not require full trustlessness. The new things that are close to being implemented also sounded really exciting like the community layer hivemind, jussi, SBDS, yo and the comment widget, although I'm not the most tech-savvy Steemian I can't help but be excited over these new functions and improvements, especially SMT's that will open up so many new doors for Steem!
I've been thinking about going over these speeches that I personally found most interesting and quoting parts from them while giving out my opinion and thoughts towards it in posts but I haven't been able to find the time for it yet, let me know if you'd be interested to read more detailed posts about this.
Having said that, back to the main question:
What do you think about the future of Steem?
Leave a comment down below, in these #AskSteemit posts I reward good discussions more than usual.
I also spent the last several days checking out the live streams and then watching (after the fact).
I'm pretty stoked about Steem's future.
Generally, I have no idea what witnesses do or what nodes are... but I can appreciate and (kinda) understand smart media tokens. 😏
I'm most impressed (on a daily basis) at the great minds that are already a part of or joining Steemit. It's like it can't lose with so many on its side.
For someone like me (I just like to create content, play games and talk to folks) it's allowing me to do all the things I always wished I had time for. Now, I LITERALLY get to do them because I have incentive.😍
So... thank YOU. And thanks to everyone that does their little part.
Let's keep this party going!
nice
In a single word, moon. In more complex words: The Jovian satellites. We're going to end up orbiting Jupiter.
Between SMTs, other sidechain projects like zappl, busy, chain-bb, and the stuff I haven't heard of; there is so much untapped potential in the Steem blockchain.
I'm sorry but this "tothemoon" shouting doesnt help anybody. It only distracts rationals and confuse newcomers.
TO THE MOON! TOOO THEEE MOOOOOOOON!
Confused yet?
hahaha
But I think you get what i saing
I get it, just making a joke of it :)
I'm an old Doge coin faithful. I want to go to orbit! I get that this can be confusing to newcomers. :)
Me too! Still a dogelionaire!
Short version: STEEM becomes a currency and a world social platform.
Long version:
STEEM will receive more adoptions with more users joining - because they want to get Steem for other contents locked by other SMTs, or they want to release their excess manpower in accumulating knowledge for future readers. This essentially brings the internet back to a productive environment where knowledge could be developed between people without relying on advertisement income.
When more people realize they can get rewards by sharing their knowledge, they are more likely to focus on interacting with peers in the platform. Some users may also bring in cash flow that can be used to reward others, i.e. push up Steem price.
I starts writing tutorials on various topics since I joined - I did not do this for more than 10 years. I feel good and hope I can grow with others peers, intellectually and financially.
Cheers.
Very well put!
I had the same experience with drawing which I hadn't done in many years, steem brought the creative side back out from me.
I couldn't have said it any better. There are so many talented people that emerged because of the steemit platform.
While the SMT will be critical for the future of steem, i am also thinking the referal system to the steem blockchain. I know this is being mentioned in steemfest and i could not wait to see the detail and i know many people are waiting that to get all their friends actively involve in steem.
Indeed. New registrations is dropping many weeks in a row - check @netuoso reports for stats. If it continues, it is gonna be a problem.
Steem needs 2 things to deal with it.
Also some opinion leaders from outside the crypto world entering the platform should help. I see gaming and trading communities as points of growth here.
was it mentoin by the team behind steemit? When can we expect? That would be awesome :)
I completely forgot about that, hope they have some good solutions to it that doesn't make anyone lose steem that the people doing the referring get instead.
I guess I come at this from the non-tech, non-developer side of the table and for me, that question includes what do I think about the future of Steemit, the social content platform?
I think Steem-- the token/currency-- is on a solid path towards a strong future; I see all the apps, sidechains, SMTs and other projects as laying a SOLID foundation for answering the deeper question "What is the purpose of and economic reason for the existence of this cryptocurrency?" which I think will be core to sorting the wheat from the chaff when it occurs to someone that simply using the word "blockchain" is NOT sufficient reason for a currency to "exist."
In two, five, ten? years from now, I think the crypto world will settle into having a small number of "major players" and a veritable ocean of worthless shitcoins... and Steem looks good to be part of that top tier... regardless of whether it's an "inflationary" coin, or not.
As for Steemit? I don't know... an awful lot of front-end work will need to happen if this is seriously going to become a "category changer" to take on the likes of Reddit and Facebook, face-to-face. At the very least, all the major apps will need to be somewhat integrated into the Steemit user interface... a large part of the reason Facebook is as dominant as it is is that you can do everything "on" Facebook... the average social media user isn't going to flock to a platform that requires 17 separate apps to do 17 things... decentralization and its merits notwithstanding.
But you asked about Steem, not Steemit, so I feel pretty good about its future!
Agree very much on this differentiation. Steem I believe has a strong future.
But steemit I am not so sure about. It needs some serious love and attention - and strategic thinking.
Is it okay for the site to be fed to the bots? Can steemhumans rise again to bring it back to where it should be?
It would be a great shame if steemit went the way of Tsu.
And I believe a failing or ailing steemit reflects badly on steem itself.
Steemit must be hot, for the steem to rise.
SMTs SMTs SMTs!
We are just getting started. SMTs will start the next wave of steem adoption, making our current numbers seem tiny. Once we have lots of other websites being powered by the steem blockchain via SMT, the value of steem will be much higher.
Hopefully we'll have more use cases for real world steem applications too, I think @sndbox is doing awesome work in that area.
lol, i was thinking of SMT's all along then somehow forgot while writing it. Will ninja edit it in real quick :D
But yeah, this is only the beginning. :)
I had also forgotten to mention the comment widget that @val is working on.
You are right sir ....👌👍
After watching many of the excellent talks at SteemFest² I am definitely optimistic about the future of Steem.
Here is an index for all of the SteemFest² videos. It lists the title and speakers for each talk with direct links to the specific time in each video. I highly recommend it over searching through the 25+ hours of content.
Index for the SteemFest² LiveStreams
wow , thanks for this link.
I don't like comparing Steem with Facebook but in order to get a picture of what the future might look like let's say that Steem will have the same market cap as Facebook has today but we will reach it in 2030.
The current market cap of Facebook is around 500 000 000 000 ( 500 billion). In 2030 we should have around 600 000 000 Steem coins in circulating supply. So if you divide 500 billion with 600 million coins you get a value of 833 USD/Steem coin in 2030. Steemit as we already know Is just a part of Steem and might not be the biggest contributor to Steems future price. SMT has broaden the possibilities to be pretty much endless.
In conclusion I am positive about the future of Steemit and the Steem price. I am also very much impreased with how professional the Steemfest event was, to pull so many people together at one place really makes me see the commitment people have. I hope I will make it to the next Steem fest maybe I will be able to buy the plane ticket with Steem at that time :)
You were right about the price in that case being 833 USD altough you had an extra 0 in the 500 b and 600 m instead of only 6 in the total supply. :P
Guess they were just typos.
But yeah, now imagine the price if Steem could do what most popular websites do today, not just facebook. :)
Hehe yea these were sloppy typos . My bad hehe. Exactly Steem extends much further than jus Facebook !
In 2030 you can come back and read your own comment here, hope steemit dont go bankrupt and dead.
Even if Steemit would be dead by then there might be thousands of other cool things built on the Steem blockchain and with use of the SMT, in other words Steem doesn't only depend on Steemit
To be honest, the future of steemit is really depends on how much people change their behaviour against using the "social network". From only sharing to sharing for money. I have to say, steemit really is a revolution for all kinds of social network platform existing.
But I have to say, the speed is a bit slow compared to what I expected. Maybe we are not doing good enough, or maybe it's kind of hard to change the human behaviour. However, I believe that the behaviour can be changed one day.
I think events like SteemFest give everyone a boost of energy, and act as a reminder that a lot of people are wishing for (and working toward) a common goal.
I didn't make it to this year's 'Fest, either, but I was really inspired by the livestream talks I had a chance to see. I agree that there is a lot of untapped potential when it comes to Steem.