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RE: What is it about STEEM that its tanking so hard? // An open letter to STEEMIT.INC
That's a high-value answer, @smooth!
Steemit Inc. should have given responsibilities towards the community instead of doing everything on their own, but they know it already, so no point in hitting the same nail.
Responsibilities align with funding and ownership. Steem was for better or worse launched on a largely centralized economic model with Steemit (both the company entity and its team/founders) starting out by assigning themselves 80% of the stake (they have less now, but still a huge percentage).
Even what we refer to as 'whales' are comparatively tiny, generally 1/2-3%, most at the lower end of the range. This is both a funding and a governance issue. Since Steemit and its founders never locked their stake into a non-voting account (as was once considered, and a feature even implemented, by them, in a hardfork to enable it), everyone operates under the assumption that Steemit and its team can unilaterally override outside stakeholder/witness voting at any time. As a result, no one feels safe or justified in investing resources in anything other than letting Steemit set the priorities and following along.
Anyway, yes, I agree on literally devolving responsibilities, but it isn't quite as simple as just telling other people to do it without also considering funding and governance.
Thats true.
But i think we need too some Sharesholder Forum / Slack / whatever. Because i think holding Steem is more like a Stockshare not like other cryptos more like a currency.
So it would be nice to get good Information about future plans / projects etc. This Infos doesnt need come from Steemit. Like Steemfest but online.
So we can support some projects etc.
maybe it is good the price go this low. So Steemit need to sell more and loss the overvoting Power.
there's a telegram group, Steem dApp Foundation, you might want to inquire about
Ah ok, thank you
a telegram group is really good. You know where i can find?
Contact me on Discord, same name
Insightful
That's pretty much the only reason I read from people complaining about Steem on reddit & co.
Maybe it's time now that the rest stake or part of it is actually locked behind the mechanism? Or maybe it doesn't make any difference anymore?
It makes a difference to the governance issue if it is made non-voting. And it may make a difference to the market price if it is locked from selling faster than a given controlled schedule. XRP increased dramatically in price when the Ripple company did the latter, but prices are always unpredictable so we can't say with any certainty that STEEM would do the same.
I understand, but do you think it would make people rethink, who have a bad memory about Steem due to the pre-mine?
It did with Ripple. Of course there are still many Ripple critics (as with every blockchain) but from an investment appeal and price perspective it certainly seemed to have made a big difference.
ripple did it very successfully, I would love to see steemit inc consider such move.
Preach. You need:
a great working product
Marketing
and sales
...if you are not good a developing those things, you hire people to do it. I keep hearing "we" from people who are not Steemit Inc. ...which confuses me. As a business owner, my customers are not "Mel Booker Music" I actually exist to serve them.
...Such an old fashioned way to look at things....
lolol
@lucylin Yep :-) I do Love my customers.
Salespeople are needed.... resteem!
https://steemit.com/blog/@lucylin/here-s-a-thought-some-positive-action-is-needed-on-steemit