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RE: The Snowball Effect on STEEM.
I think "like" is more valuable than 0.001$ upvote for those people on FB, Insta as such. This is kinda Ego > Money. I also think that Steemit or the idea of blockchain based platform has not been popular yet, but been more difficult to sustain on. I know many users from my country left Steemit due to price drop last year. Now reward decrease. Even if you put HF100 into use, people want to get the return of their effort.
You should lay the base very well before raise a building.
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We've had a building for a long time, but that building has fallen apart. Brick by brick, for a long period of time. The intentions of HF21 was not to raise a new building on that same foundation, but to strengthen the foundation, and raise a new building afterwards.
I get your point though, and I can understand your feelings. How many of those users are able to earn something from their content nowadays?
Also, while the price is low, you are able to earn more Steem. We are talking about tokens, not the value of those tokens.
That being said, I know more than a handful of people who gave up on Steem too. They gave up in late 2016 and the beginning of 2017. They gave up during the time we saw the record for the highest paid out post ever (~$32K), and they gave up because they didn't earn...
It's impossible to please everyone.