First of all I want you guys to play the Youtube video above and know this is how the Steem blockchain is like to me - beautiful. My gut's feeling some pressure recently, so let's have a conversation about Steem's immediate existential risks and ways to overcome them as soon as possible. I'm in no way saying that current developers and witnesses are not doing anything to address some of the most pressing issues, but I'm just finding it difficult to figure out the relevant progress and discussions surrounding them. And crunch time is near.. so let's talk about it.
These points are some of the most sound reasoning I've come across chatting with other couple of investors on the platform. Just take it as a voice from a concerned user / investor:-
There are blockchain projects with enough network effects at the moment to branch into social media. Existing social media platforms out there could even start getting into blockchains. After 2 years of virtually zero competitors, time feels like it's close now for the emergence of a very real Steem slayer. It's already looming on the horizon. I don't have to say much about this.
However, Steem has been and still is in a unique position with proven user adoption. It has been driving websites like Steemit into the top 1000. That's rare for social-media startups because it's really not easy to get return users, and more importantly, getting users that become inhabitants. Network effects don't just spring up all that easily, even with loads of money reserved just for boosting user adoption. Lady luck has been good with Steem and its applications, especially Steemit.
But Top 1000 is still not good enough to eliminate the looming existential risks that Steem will be facing in 2018. So let's go for a Top 250 website as soon as possible.
Steemit Inc has the resources. Steemit.com is already in top 1000. Leverage the position. Top priority should be placed for sign-ups and onboarding. This is the biggest problem the dev teams must solve. Solutions in this domain will translate into the network's biggest business opportunities. Becoming a top 250 website / application could simply increase Steem's valuation massively, reduces risk of a dropping out the leagues, while attracting more mainstream entrepreneurs and developers into adopting the protocol. Just the sheer amount of attention flowing in as a top 250 website is what Steem needs.
Witnesses should consider increasing the blocksize to ensure smooth user experience. Please favour growing and retaining users. The bloat problem will have a better chance of being taken care of with mass adoption. It's a good problem to have anyway. Focus on maximising the network effects that Steem has been privileged to have experienced for the past 2 years.
Secure dashboard / application hub needed. I know that's https://steemconnect.com/, but what's the current rollout plan?
Finally, how about finding the Goldilocks zone for reward-curve? I like linear, but it seems to have been enabling tragedy of the commons at full-scale. Money is ultimately a social tool, and hence should work towards a common good for it to have any lasting value. So the voting economics could use some changes. What happened to curation and a meritorious culture? For one I'm happy to see
supporters still staying on mission. Maybe inching something like 13.37% towards n2 will solve most of the voting problems on the platform.
In short: supercharge signup / onboarding process, Steemconnect c/w user dashboard, and attempt to fix the voting issue just by going for something in between linear and n2. I'm sure this has been brought up again and again, but I just hope to be assured there are indeed enough developers pushing on developing the solutions, even if it means sleepless nights. Because that's what I will 100% do if it's in my domain, to be honest.
I know it's too easy for me to just talk and crack the whip here lol.. but I think plenty of us have been patiently waiting in confidence of developers and witnesses putting their best work forward. I just feel like making some noise now because time may be running out.
Anyway, happy 2nd birthday to the Steem blockchain! Much thanks to everyone who has been putting the time and effort into improving the platform. Your hard work is always much appreciated.
Written on https://busy.org. Try it out!