I am so bored... I upvoted every comment I made within the last 7 days...

in #please3 years ago

Ha! Did I hook you in?! Or did you just click it by accident!?

Ok jokes aside and I'm not wanting this to turn offensive (I have a tendency to annoy people - totally unintentional, I assure you.) but after about one and a half weeks on steemit, I still don't understand the creator's business model. It's one big pyramid and a popularity contest to me. I know there's plenty of good content. It just seems to all get lost in the echoes of whales and bots.

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I joined about two months ago .. looks like we both are around two years too late. Unless you are already someone that is somewhat known or popular from another social media site it will be hard for a newbie to rise up to whale status.

At least that is my conclusion from my two month stay !

Thanks for comment. Not sure if this post was going to find anyone. For now, it's clear that's the case. In a pyramid scheme, the only ones that make anything are the ones on top. However... There is a silver lining here... Since there are only about a million users right now, we may still be near the top depending on how this platform will grow. I'm still trying to picture what kind of business model this thing could possibly have besides purely benefiting the people with the most shares and letting everyone aggregate the data. Maybe that's all there is.

I think if the site is going to thrive a new system needs to be put in place. In no circumstances should 1 vote be equal to 100's of others.

A possible solution is to place a Max Value on votes.

I bet this platform losses allot of new users when they see how the system works.

Agreed. It's fighting a bit of an uphill battle with all those established sites like Reddit and Facebook. Just getting a few pennies, if that, is not really an incentive. The could have left the counters displayed as points but instead they choose to convert it to USD. That says they are trying to use money to attract people.

If there was a max value on votes, it will really level the playing field but it may encourage people to"cash out". That could result in drop in value of the coin. But then again... There is already a restriction on how fast people can power down... Just thinking out loud.

Maybe create a better way to organise and find content. Maybe let people create some groups. Also, the 7 day window to get curation votes feel a bit artificially imposed imho. Could be essential to simplify the monetary aspect though.

Simplify the monetary aspect is something I agree with 100 %. That is something else that scares away newbies. Convert this into that to use to power up. No need for all those steps.

I don't think a max value on an upvote would lead to excessive cashing out in the long run. A more "fair" rewards system means more join and participate which will increase the over all value of steemit in general.

Agreed a better way to find content is needed also. I bet most only glance at their own feeds. A section with content with the most upvotes instead of rewards could be an option.

If Steemit doesn't fix some of these issues a new social media outlet will come out using steemit as its base model + improvements and it will become the next Social Network to be apart of.

Good words. Steemit: thrive or dive. I hope those guys are putting their initial gains to use. There is potential here but all we can do is watch, pick and choose what we think is best worth our time.

The saying goes: just my 2 cents. Then to find out what's really worth 2 cents lol.