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RE: Random thoughts on reforming SBD and cutting inflation
Steemit as the worst social network, really? What other social network is based on an open-source blockchain and pays its users a cryptocurrency for engaging? In fact Steemit is very innovative, a cool experiment, and a meaningful blockchain use-case. Having said that, Steemit is also far from perfect and all your suggestions make sense to me. I would even go further and remove SBD (stop printing SBD) entirely, since SBD has failed as a stablecoin and adds too much complexity, inflation and debt for Steem. Reducing the Power Down period to 4 weeks is an active Steem Proposal by the way, that got community support already. Maybe you can test the other proposals as well on steemproposals.com and see what the community thinks about it.
Sure, Steem is definitely all of that, but none of that necessarily means a good social media experience. I mean, just registering is a pain and for most of Steem's existence meant several days/weeks just to get started. Whenever it gets somewhat busy (still absolutely negligible compared to any top social network) you have to go buy a cryptocurrency just to be able to perform basic functions. On any other social network, simple actions like voting or sharing or posting are done in mere milliseconds - here everything takes 3 seconds. There's zero privacy, so all of your data is 100% public and can be exploited by absolutely everyone. But the main reason why people engage with social media is because of people. There's absolutely no one on Steem, even after nearly 4 years of existence. You need at least a 50-100 million users to offer a scale that people want. Steem has, what, 5,000 to 10,000 active users? There's zero moderation, zero discoverability, zero protection against hate speech or similar crimes, etc. etc.
Look, I could go on and on, but Steem in its current state is a terrible experience for most people. This is not like some unpopular opinion - there's a reason why there's almost no one here, and most that were have left. There's a high rate of attrition because it's a bad experience with no audience.
Like I said above, I'm definitely not denying that it's great for some - I'm sure some still love it. But you've got to recognise that you are in a tiny niche minority that actually likes this product. Or maybe the promise of it - but that's a different thing. I'm just looking at it as a social media experience today. If it were any good, people would have stayed and continued to use it actively, but almost no one has. I can't think of another 4 year old social network that has such low usage, can you? Worse still, it's steadily declining since reaching a peak early-2018.
Steemit is the best .... followed by Publish0X and Smoke.io .... https://www.publish0x.com/?a=BDbDqjxdl2