Why is the price of Steem dropping. And why it is to be expected.
"More active users joining Steem.it."
What are these active users bringing to Steem.it?:
I see an increase in spam.
An increase in Vote begging.
An explosion in plagiarism.
And best of all, upvoting your own comments.
I doubt if the majority of new content creators are here to create content.
Without out adding value to the community, the price will fall.
"Iceberg . . . dead ahead!"
Titanic
Please enjoy your expamples:
Sadly.. this is true... the more users are here the more this situation will become worse. look at Facebook & Reddit you'll find a similar problem... that and subreddits and FB groups has rules that are made to prevent that and steemit community is anti-censorship so its harder to do that here.
It's sad but we can "advice" and do some things to make everything better.
As with cryptocurrencies, I foresee a time where Entire rooms are dedicated to 'employees' who spam.
Some parts of the world a few pennies adding up to a few dollars is worth the effort.
Voting bots are already like playing ''whack a mole".
I have an Idea that can end this for the serious user.
I'll have to give it some thought.
Thank you for your reply.
That's terrifying.. but jobs like these require no skills so I know why they seem attractive to many people.
Meh, this kind of thinning of the crowd is necessary as people who are chasing the buck will fizzle out quicker than they joined. Once they realize they spent hours and hours to make a few pennies they will give up the fruitless endeavor. The less we reward these leeches the better and only the real authors will survive.
Well said @hotsauceislethal,
Thank you for your comment.
Steem-on.
I think you are right on this. Even since I've joined (June 2017) there seems to be a lot less spam and "follow for follow" comments. Maybe it is the posts I'm reading, but I just don't see as much junk as I used to. This will probably go in waves, with some time periods being worse than others. Overall, I think that people will give up. Being social can be difficult and the people who are here for a quick buck will probably stop posting within weeks after joining.
Its a double edge sword. The truth is not alot of people are content creators. So you incorporate them and allow steem to grow or you create a system to leave them out and limit steem to a niche creator market. I don't know whats best for steem but I'm just in it casually.
I think that the content creators are overlooked.
And certainly are not getting the rewards they deserve.
Thank you, for your reply @feelsomoon.
You are right!
but how can we prevent that?
Without value the Steem.it ship will sink.
It is a mathematical certainty.
I have held my tongue but it seems that recently Steem.it is attracting people who see a dollar as if it were a full days' worth of work.
And now a dollar or two can be had here for some spam and begging.
Hi @randolphrope, frankly I've only been here a few days but I can see that currently there are no tools to prevent it. @stellabelle mentioned that there is something being worked on but didn't go into details.
Personally, I think more needs to be make of reputation score. A high good reputation should give payout bonuses. A new reputation should be neutral and a bad one could severely reduce the payout.
However there is still nothing to stop new spam accounts popping up as soon as a reputation is ruined.
I don't know, if the perception is you can print money from nothing then people will abuse the system.
I think a more succesfull system would require someone to part with some value, in order to promote someone else's content and 'invest' in it.
I go into my reasons why in more detail in this post https://steemit.com/steemit/@joannajablonka/steemit-is-in-danger-of-self-destruction-why-reddcoin-could-win . It's my first post, but to my suprise it has been well received by the community! So, I think there is hope yet as long as the core community remains supportive of each other and the platform.
Hello, @joannajablonka.
Thank you for your reply and intelligent comment.
I have read your post and it impresses me that you have a quick grasp of the current situation.
I agree with your assessment of Reddcoin.
And it seems to me that people who have to purchase something will not be begging for a few cents.
Upvoted and followed.
Have a look at this recent post by @henry-gant. He also sees the problem and has offered a solution. @joannajoblonka
https://steemit.com/steemit/@henry-gant/introducing-steem-it-premium-this-steemiens-response-to-spam-plagiarism-vote-begging-and-follow-digging
Steem has an inflation rate of 100%, which means there is 2x Steem created each year. In practice, it's even more..
So, a whale can stay on Power Down selling Steem throughout the year, while being rewarded enough to maintain her bag for future earnings.
Morever, Steem Power represents 90% of the market. The price on the exchanges reflects only the last 10% real Steems...
Steem does not have an inflation rate of 100%. Steem has had an effective inflation rate of ~10% for several months.
"STEEM is constantly increasing in supply by 100% per year" in the whitepaper
https://steem.io/SteemWhitePaper.pdf
The White paper is not updated, there was a change a while back to ~10% inflation yearly.
I consider that you're totally right. I'm an @ocd curator so every time I'm looking for great, original content I have to dive deep into a sea of spam and shit all over the place.
I think that @henry-gant's Steem.it idea is pretty interesting and that may be the solution but until then we can only hope that those spammers will realize that they can't just rip of steemit and they will either back off or start to create something.
Btw, I'm looking forward for your next painting. :)
Thank you so much @guyfawkes. I'm not understanding why this is not a priority. O' well. Same old, Same old. We will have to wait until a crisis. (Iceberg . . . dead ahead!)
My paintings . . . I am commisioned to paint a large mural for the reception area of a new motel. I'm preparing to document the process and of course, post it to Steem.it. That will be fun.
Until then, Happy posting.
Same old, same old indeed. If there's an issue people should take direct action towards making the things right but still, with the spamming, the situation gets really tricky.
The worst ones are not those that are spamming people with stolen content and get no money but those that are doing so and make some nice money without putting any effort in.
They also shouldn't be put in the corner but understood and helped to become value providers because steemit is a new concept, unseen before and it can be hard for some people to really understand what steemit is about.
Good luck with your painting :)
I think this is to be expected with any platform, but with the nature of steemit, new users are more apt to treat it as a way to make a few bucks rather than a community. Combined with the less than optimal site navigation, which makes it a bit difficult to discover new content without running into loads of spam, this has been the number one issue thats discouraged me somewhat from exploring steemit further.
price of steem dropping because of that? LUL!!!! please read something about markets. this is a social network. a public social network and you guys are talking about censoring it..
But seriously your view on price of steem is naive. it's only demand and supply and price of steem isn't decided on this platform but on EXCHANGES were commodities get their valuations based of SUPPLY and DEMAND FFS!
you will see an increase in spam obviously... the community is growing exponencially.
As far as I know I can post someone elses content on my steemit if I think its relevant, or are you saying i can't circulate information because i'm not the creator?
All I see is a boom in steem users.
And you had to finish with the cherry. what people post has less than 0 to do with the price of steem... you are actually saying that because there is no quallity in writting it goes down... maybe it goes down because people have been buying it to hold and there is no more buying pressure?¿ maybe its falling because there is more interest in other commodities??
oh wait its actually both...... AND ONLY THOSE REASONS
next time instead of wasting money to promote something with no grounds hold your steem as it will be worth way way more in the future
A friend of mine has put forth a proposal that would create a Premium Content in Steem.it.
To join and comment on others who are members you would need to pay at least 10 sbd, or hold 25 sbd.
I look forward to this day.
Happy posting.
Browsing period isn't intuitive, on the new page you're sifting through different languages and there's not really a way to weed out the spam (from what I've read flagging doesn't help your account.) Content doesn't just flow like reddit, twitter, etc, partially to the size of the community.
Doing spammy things is almost encouraged - I upvote my own comments/posts because it makes sense to. I hope they make the changes because I want to see Steemit grow!
i guess posting should not be free and maybe needs to cost. the sybil attack and mass upvoting yourself too would be an issue so upvoting would have to have an associated cost also. question is knowing that it costs to upvote would content creators get enough support?
https://steemit.com/steemit/@henry-gant/introducing-steem-it-premium-this-steemiens-response-to-spam-plagiarism-vote-begging-and-follow-digging
This post addresses the spam problem effectively. From Henry Gant.