Is Steem failing and IF what should be done?

in #steemit8 years ago

I read Steem Analysis - from furion and his observations are in line with my own. I wanted to share my thoughts - why Steem is failing right now!

Why should I buy STEEM at all?

All over Steem I read how you should buy Steem and PowerUp, but in fact all of the whales got via mining or posting to this position. Vesting is presented as a great way to show your faith in this project, but for me as a potential investor, it is a no go - why? Why should I take all the risk and the early adopters take zero? If I buy Steem today I am forced to PowerUp or get diluted to hell, so I will keep my money away from this project. The risk/reward for early adopters and people who are coming late to the party are not balanced.

Without investing into STEEM I have only one choice to get a stack in the project - to write interesting posts. And this is the second biggest mistake Steem has right now.

Only whales are inportant

As an average joe, this platform is not so interesting as the whales and the dolphins think. And without the average joe the platform is literally worthless. Most of the people get introduced to Steem with the promise that their posts get bucks for them, but the truth it, only "interesting" posts will get money for you. Interesting is only if a whale likes your story and upvote it. Most of the people are excluded to get rich here and the content so far is not really interesting to stick. Just a bunch of "Steem is great" "Introduce" "How I promoted Steem" "Traveling" "Anarchos" "I wrote some code for Steem", nothing really helpful.

But what is helpful?

I don't know.

Facts

Graphical

Some explanations to the graphic above and below. I just looked into the numbers how active every tier of the Steemians are, and not surprisingly as more you have, as more you are active.

Shockingly only around 850 accounts hold more than 3.000 worth in Steempower, Steem or Steemdollars. If you look into the daily numbers this is roughly 70% of the daily active people.

If you look into the 7 days period we had 11.753 accounts active. We get daily 1.000 new accounts, so we need to subtract this 7.000 from 11.753 and we get only 4.500 accounts are active from 61.000 accounts in this tier ( check tier $3 with 68.028 accounts minus 7.000 new accounts). So the numbers are speaking facts in my opinion.

Compare Steem

Solutions?

The posters get too much money and the new minions get to less, this leads to leaving this platform and not coming back. We should think about how we could change this. The USA lives from the promise alone that everybody can be rich, but to do it on Steem I need whale friends or write constant content, for the average joe Steem has no value.

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There should be a max. of 300$ per post. Like this the Whales have to vote more posts.

It would seem your numbers are confirming the analysis I put together for a blog earlier. It would seem that minnows are either choosing not to participate or abandoning their accounts at a rate that is faster than new users are added (churn). I pulled a post together exploring that and offering two solutions https://steemit.com/steemit/@lpfaust/an-open-letter-to-the-steemit-powers-that-be

I see posts coming from the developers about new features, but I don't see any move towards addressing this very serious problem. I am concerned for the future.