Where People Gather an Economy Develops - It Is All About the Eyes
Credit: Adobe Stock
It is my opinion is the value of Steem is all about the number of eyes viewing the sites, usually measured in transactions or page refreshes.
Why I Care About the Eyes?
- Gatherings of people naturally create trading groups
- Historians believe that cave men traded bones and crafted tools.
- Kids at lunch tables create elaborate trading exchanges
- You can look at the population distribution in the USA and see how "centers for trading" created groups of people and economies
- Craigslist, Poloniex, were created because people needed a place to gather and trade
- The same concept is being created here.
- I believe this would be recreated, anywhere you put a tribe of people. Ccontent will improve with eyes (human) on the site. They will read, curate and hopefully either flag or report scams and spam.
The more people who gather here the more an economy will naturally happen - Here is an imaginary situation
- At some point Dominos or Pepsi or another large company may purchase some Steem and create an account. (we aren't there yet)
- Based on other Internet business models, my guess is they would get people to interact with their account by giving away free services or products.
- Some people on SteemIt will be upset about large corporations joining and will try to flag those companies.
- This may work for a while, but if current users keep flagging, and there are enough eyes here to motivate Coke, they will buy into the "Stake Based System". (They could even buy enough stake to vote for their own witnesses)
- Many users may become angry and leave, so Coke has to be careful to retain the "eyes" if they want their purchase to provide returns in name recognition or sales.
- It is all a balancing act
Whether you think it is a good thing or a bad thing, the more eyes we have on SteemIt, the more value and potential it will gain from creative, motivated people. It is just how it works.
Lots in here to dissect. I do agree that the more eyes we get on to the platform the better for the overall growth. You look at a platform like reddit who have over 300 million in their user base, so much content is being created each second. The difference here being that most of the content is long form blog posts, bbut it is changing a bit with @dtube @dmania and the #funny groups branching to other areas. I love the idea of a marketplace, a craiglist where you can buy and sell things using steem, I think this is going to be a huge venture going forward.
In regards to big companies joining, I think you could get a company like dominoes or mcdonalds that accept the currency without being that active on the platform. They just have an account and accept payment in steem/SBD and then convert it to the local currency with something similar to shapeshift. That way you wouldnt have to worry about the flagging nonsense. I think there is room within the steem ecosystem for people/companies to accept and use the currency, without trying to earn more through posting/curating. Steem is fast and free, 2 things it has going for it over BTC and other big name cryptos
I find the people who would flag the companies who buy a presence here to be worthy of being flagged to oblivion if that should come to pass. To do such a thing is to attack the very foundation of the monetary value of STEEM. Without the prospect of commercial interest in Steem Power, STEEM is basically worthless monopoly money. Even as a payment platform Steem would have a pretty hopeless battle against all the other cryptocurrencies and every centralized electronic payment system in existence and routinely used by billions of people every day.
In fact, the prospect of a sizable minority of Steemians willing to flag corporate accounts just because they are corporate accounts, casts serious doubt as to the viability of this platform as a way for content producers to be rewarded financially in any meaningful way.
So who wants to trade my Pokemon cards now.
Thanks for the subtle humor. I hope we farmers can create an international group through which seed banks can be created, on steemit. Steemit has a lot of potential. Maybe, a software which can delete spam instantly can be created to protect the site
I think this can be considered a new kind of culture, and quite a step bolder than most cryptocurrencies out there. It'll take time to seep into everyday use and normalise before big business consultants give the green light. Given the fair exercise of stakes design, I think it's acceptable and will gain acceptance in time. Big business people are people too..
Loved your theory :)
a spammy comment
I should flag this bullshit comment. :)
truth in commenting is about as common as truth in advertising
Metcalfe’s Law is probably overstated, but it would be hard to argue with more eyeballs for the Steem blockchain = more value for the Steem blockchain thesis.
We need Hard Fork 20.
@whatsup,
At some point Dominos or Pepsi or another large company may purchase some Steem and create an account.I wish this business platform will be here with SMT arrival! This is one of the major idea and having good SBD price is an essential to gather more audience to STEEMIT!
Cheers~
agree with you and we are on track.