RE: Getting STEEM back into the TOP 10 - Making Steem More Investor Friendly
I think that whatever we do, we can't attract more money than bitcoin gold and bitcoin diamond. Some investors are very bright, but more than 90% of them are always wrong in their investments. I am not only talking about crypto, even in the stock market.
There is only one warren buffet. There are millions of idiots. No matter what we do, you can't convince everyone to invest. It's all luck.
However, what you can do is really improve your product, so that it becomes really useful. Bitcoin Gold, Bitcoin Diamond and Doge coin will die. They might rank up high on coinmarketcap, but they will die eventually.
The game is not about attracting investment. It's about building the best blockchain. There is a saying, "luck is when preparation meets opportunity".
What we should do is prepare, prepare and prepare. Hopefully one day, a steem dapp will go super viral, and there you go, we're in top 10 forever.
If we're not prepared, there is no point in shilling steem, because the opportunity will come and we won't be ready for it. It's true that we are much better than some other cryptos, but I think we still have a long road ahead in terms of development. Once we're ready, then it becomes time for aggressive marketing to investors.
Shitcoins beat us in the short term because of stupidity and randomness. But in the longterm we can only win.
Edit - For example, 2017 was a great opportunity. Huge amounts of users came to the Steem ecosystem, but most of them left because we are not ready yet. If we had communities, SMTs, better and self-sustained dapps that make profits, we would have retained a much greater amount of people. The growth in the number of users, in the number of wallets, is what will get the price higher.
I think this is the right answer. I know we all hate being here, and you want to do something active to change the current situation, but I don't think the answer is a drastic overhaul of the system. I think the unfortunate reality is that the entire crypto market is depressed right now and no matter what we do it won't have a HUGE impact on the price, but this is only temporary.
The prices will eventually go back up and when that happens we should be prepared. There are glaring things still wrong with the user experience throughout Steem. Account creation is still too hard even though it's getting easier, Steem Ninja being integrated into the front page of Steemit would be a great step forward. Professionally done video tutorials explaining the system, and easily accessible from multiple frontends especially Steemit since it's the most used. And obviously the hugest value adds would be communities and SMT's.
We just need to use this time to create value and position ourselves to be able to go viral the next time things turn around.
Not to say I'm saying we do nothing to make Steem more investor friendly, one thing I think would be a good idea that's not in that grey area you were speaking of would be more in depth curation and autovoting tools. Steemauto + Steemworld are nice, but what if we had something that provided analytics on averages of what people make per post, so that you could at a glance see how much you could potentially earn for supporting one author or another. Taking that a step further, if this app is already tracking people's earnings, you could also have presets like "Highest earners overall, arts, Steem, Music, etc" So if you want to automatically curate one of those areas the app can just do the work for you in figuring out who to vote for. I know that's super complicated, but since we're just spitballing here...
with highest earners auto curate you continue rewarding the steemit trending page. not sure did something changed there but i know what i thought about it months ago.
it could be useful for people that don't want to make content, but it would kill new creators.
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Yea I immediately thought of how to exploit it after I posted this. It would just further incentivize people to buy votes and would make that even more profitable. Scratch that, on to the next idea 🤔
😁 well there will always be someone trying go game it
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I think that sums it up pretty good. Steem already had a lot of eyeballs, but many were not satisfied with the result, so they left. We need to change that.