UPVOTING BEST COMMENTS: How to increase the demand for Steem Power?
I will upvote the best comments here because I'm curious about what the community has to say about this...
What, in your opinion, would be the best way to motivate people to buy Steem and SteemPower?
It is actually very very hard to make 18%+ ROI every year for your average small investors in the stock or bond market.
On Steem it is as easy as delegating your SP via minnowbooster to receive that ROI as passive income no questions asked. I don't understand why 18+% pa is not a HUGE incentive to hold steem. The price is stable around 40cents for now and has the potential to increase a lot over time.
I think it just comes down to people not knowing about this at all.
We don't have one webpage explaining all there is to know about steem. How should anybody know unless he stumbles upon it by accident? Wikipedia is not helping, in fact, it only highlights the faux pas of the past.
We need a knowledge database on the front page of steemit.com asap.
Searching info by reading thousands of posts on steemit is not how people should learn about steem. Yet that is how the best-informed people gathered their info over the years. It's ridiculous.
Keep the current reward scheme. Let people upvote their own content for profit if they want to do so.
Make on-ramps and sign ups as smooth as possible.
Promote the heck out of the opportunity that exists here for investors to make a huge profit on their returns.
Create an SMT for content rewards and curation purposes. It should be account based, since stake based rewards have been a failure when it comes to content. Design and manage rewards, moderation, and economics appropriately (I'll leave that to someone smarter than me).
Always right on target @donkeypong, if you get a moment, hit me up on discord ;-)
Steem Power delegation should be rewarded by partial curation going back to delegator. I propose 50/50 split. So that SP hodlers could delegate to the best curators in the community and get profits too.
Survival and Success of any SOCIAL MEDIA platform and especially in case of STEEMIT depends its out reach to common man and how much interest these Medium can be provided to these people and their intensity to their involvement.
With some monetary reward and the variety of topic it is covering Steemit rightly have the essence and ingredients for a diversified categories of people.
Since the number of users are important, it is essential to handle the newbies in the platform very carefully, which I feel at present is not upto satisfactory level. Though there are many teams now to welcome this newbies, I doubt no one is least bothered about what these new joinees are upto, how they are performing, and after an induction period - say one month - do these people have any understanding of how this great platform works.
So as a basic requirement to answer your question, when most of the members in Steemit are unaware of STEEM and STEEM POWER how others will think about investing about. So does it look good if there is a MENTOR group from established members to teach these newbies the pros and cons.
And I also feels, a simplified method is to be adopted for explaining the technicalities of this two terms for others to have serious thought on it.
There are no merit to convert STEEM into SP for many investors because of long power down periods. If we can reduce it to 1 weeks or 3days, I think that it would make new demands for SP.
Make the Steem experience - especially the first day or two - effortless. Right now Steem suffers from being too complex and confusing. We need to make it extremely easy to use so new users can have fun and easily choose their experience. Without that they don’t stay and so they don’t even bother investing. 100% of everyone I’ve signed up has stated difficult use and confusion as the reason they left and 100% of everyone I’ve signed up has bailed.
Honestly I believe it will be systems outside of steemit what will fuel the next growth for it. However Steemit has some serious power hungry people though that are just collecting steem and can sell it left and right.
I think steemit needs to correct some reward type issues to help stabilize the overselling of it including themselves and I believe SMT if ever released will fuel it through systems that use steem like we have seen with palnet.
Palnet honestly have give steem some serious value as well as steem-engine. I believe we would be back at $0.30 again if it was not for steem-engine.
Simply compare the ROI's of steem/steempower to the stock market. The returns are far superior.
Market it to Wall Street.
I believe people should start to avoid promoting STEEM as a decentralized place and target the "average" Facebook, Instagram and Twitter users out there instead. The average users doesn't care about decentralization. It's not sustainable to focus on the "underground" anarchists-types of people if we ever want to see something similar to massadoption. I mean, you can obviously mention the decentralization part, but you shouldn't use that as the most important part, which people seems to do whenever they promote STEEM. - This alone would bring in more people in the long haul.
Another important thing is to stop all the "tech-talk" as this is basically nonsense for those same "average" users I just mentioned. None of them understands blockchains or how blocks are being produced... And the majority of them doesn't care, so there's literally no need to talk about that.
Another important part is to not promote STEEM as a personal cash-cow. It's not easy to make money on STEEM and people should avoid stating that, because it hurts our user retention in general. People join STEEM with hope and dreams of luxury only to find a few cents or a few dollars for weeks or even months. That is definitely not sustainable either. The distribution, and how much people can earn is not as important as the truth. If we give users the truth, they will realize that they earn more on STEEM than on Facebook, Instagram and all those other social medias, even if they earn 1 dollar per month.
With this said, I truly believe that people would invest more in STEEM if we saw these changes I mentioned. People would become more motivated to invest both time and money, and we would ultimately see STEEM flourish.
Long story short:
Know your audience and target the right people.
I think you are right...now I believe it is in the hands of front-end softwares like palnet, tokenbb and others to create an interface that appeals to the masses and foster communities that fulfill all of the above you mentioned.
Add to that, that it needn't be about making money at all. Just a system free from the algorithms that dictate what we see on FB is a huge bonus.
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Logically it is said thag what increases the demand of a commodity is dependant on the social usefulness.
All people need is enlightenment, the best way to increase the demand for steem and steem power is to through more light about steem and its usefulness.
We run a charity organization through the steem blockchain and with our statistics we actually enroll more individuals to the steem blockchain whenever we through more light on how steem works and what investors can benefit from the steem blockchain.
We are planning to organize a seminer that will enlighten individuals about steemit, in your free time you can visit our blog and we hope to gain your support.