Development is the key. Behind that development, community is what is most crucial. Those using the applications that are created is what is going to separate STEEM from the rest of the social media realm.
Forbes magazine is one of the leading business journals in the world. This publication has millions of visitors to its site every month. It is the defacto publication for the world's wealthy even putting together a list of the richest people. Being mentioned in this publication is a huge deal.
A writer for the magazine took a balanced view of what is going on. Blockchain is a technology to be reckoned with. That said, the idea of simply going head on with billion dollar entities, at least to start, is not likely to work. The track record for this method is poor. Most start-ups, and that is what Steemit is, tend to fail when taking on the incumbent. This is even true for other billion dollar companies trying to unseat another. The article mentions the plight of Google Hangouts as an example.
I stated in a number of posts that I feel promoting the idea of joining STEEM for the money is misguided. It is setting people up for failure. All those who are marketing Steemit are wasting their time and money. People join with the expectation of making hundreds of dollars at a clip only to find that is not the case. This causes them to leave.
The truth is most are not going to make much money to start. It is social media and does require a following. Therefore, unless one has a big following on Facebook or YouTube that can be converted over (even that is tough), it will take time to build up a large enough following to get decent compensation on posts. That is not to say it does not happen; it does each day. The point is we need to manage expectations.
I am one of the most bullish people on STEEM simply because I see all the development that is taking place. STEEM will be successful because it is going in so many directions at one time. That is the advantage of decentralization. A centralized organization is penalized when it lacks a concise path to follow. The reason for this is the lack of resources. With decentralization, people simply follow whatever path they desire. The community decides where it will go. With close to 1M accounts on here, there are plenty of applications for people to use.
STEEM's success will be akin to the "death from a thousand papercuts". There most likely is not going to be any one idea that thrusts it into the mainstream. The growth will be evolutionary as more people find applications they like. Organic growth via word of mouth or search engine is the best way to evolve. Having people find STEEM instead of STEEM finding people will propel it forward. This is aided by a committed and passionate community when they arrive here.
If there is one "game-changer", as Forbes pointed out, it is Smart Media Tokens (SMTs). This truly has the potential to revolutionize the Internet. What I find most interesting about the article is that it said this:
If there are any new paradigms to be discovered within the realm of “reward people for producing good content” it’s likely that SMTs will find support these new models. SMTs are still early, but I’m looking forward to seeing how the SMT experiment plays out.
Experimentation is one of the most advantageous aspects to all of this. The interesting thing about technology, even ones that are mainstays in our lives, is they often take on a use that is far different than it was envisioned. Inventors often set out to create a technology to solve a particular problem only to find their product or service solves a completely different set of challenges. We might find the same thing with the SMTs.
Regardless of what it does fulfill, SMTs are an experiment. The premise is pretty well set; what people do with them will in interesting. I am sure there will be things done on this blockchain using that technology that most of us cannot dream up at this moment. Of course, when we see it, we will be like "oh that makes sense".
The bottom line is Steemit and the STEEM blockchain are starting to get some publicity. This is something that comes when people are consistent with their actions. The message will get out there eventually. People want to promote, push, and market due to a lack of patience. The reality of the situation is there is a lot that needs to take place before STEEM is anywhere near capable of handling the volume of people that are going to end up here. Development takes time. It is unfortunate but that is how it is.
We all need to maintain our focus upon our areas of interest and keep creating. That is ultimately what will draw people here. Whether you are into gaming, cryptocurrency, porn, homesteading, religion, sports, or whatever else, keep adding to the ecosystem. At the same time, mention it to those who have similar interest. The publicity we are going to receive moving forward provides the general reference. This means that it will truly enhance what we mention to others. Publicity might introduce people to the idea, it is our efforts which will get them to join.
Overall, we are seeing a progression of the entire industry. It is going to take time for people to fully embrace blockchain and cryptocurrency. However, while that is happening, STEEM just keeps getting bigger each day. More transactions take place; more articles are posted; more money flows into people's accounts'; more applications are developed.
And that, my friends, is the compounding effect of STEEM. Tens of thousands of people each day are taking action which adds to the entire ecosystem. Show me another blockchain where things are happening in such a mannter.
At the moment, I do not believe there is one that can compare to the degree of what is taking place.
If you found this article informative, please give it an upvote and resteem.
To receive the free basic income tokens you are entitled to and help end world wide poverty, please click the following:
In full disclosure this is a referral link
Pictures by Google Images