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RE: Is this why the price of STEEM is struggling? STEEM Withdrawls 2017
Spot on. The ease of entry is so incredibly important. When you register Steemit sets the user's wallet up and they are good to go. That is HUGE. Try using LBRY. It's a pain in the ass for the non technical user.
STEEM has been incredibly stable compared to most alts for the past 8 months, it hasn't gone up a lot, hasn't gone down a lot in terms of USD. BTC is a different story.
What I love about Steemit, aside from the blogging and community, is the ability to get my rewards 50/50. Then I can invest at least half back into the platform and take the other half to do with as I please. This was another genius move.
Steemit is ahead of it's time regarding crypto social media and we are all early adopters so HODL.
Yep, total agreement. You're right: the 50/50 system is a spark of real genius, though maybe a subtle one that many people don't fully appreciate.
I have a tongue and cheek way if describing this: 'hunger proof'. Take the SBD to supplement your income and know that the rest is out of your reach unless you're willing to wait a significant amount of time for it.
Even if some immediate concern is up (bill is due, budgetary mishaps, or even an extreme case where you were literally starving (hungry) and your judgment was at its most altered), you aren't tempted to power down.
It's better than savings, and people are going to realize this.
While i think the ease of entry is something that steem shines on. I dont think it has a much of a primary effect right now, as it will later in the game. Think of it this way, if there was an EXE file that you could run and mine btc back in 2009, why didnt anyone do it since ease of entry was that great?
This is a rehtorical question, because back then BTC didnt matter. Just like right now, ease of entry doesnt really matter.
What does matter right now is a library of content. The better the content, the more likely the result will show up on google searches, and once a steemit article becomes atleast 1 in say every 10 searches a user performs, thats when ease of entry will become important. Right now, not so much.