DESIRE TO SUCCEED vs DESIRE TO FAIL
At the time of writing this Blog STEEM is worth approximately $0.07/STEEM with a Market Cap of approximately $17 million.
This is cheap when you look at the technology that sits behind this, but that actually is not the issue.
The real issue is whether there is a desire to want the platform around or not.
When I say "want" I don't mean the users of the platform, I mean the non-users who "do not want" STEEMIT to exist.
What we have here is fight between those that want the platform for its characteristics of being totally decentralised against those that clearly see the platform as threat to their monopoly.
DAN AND NED ARE GENIUSES
I have said this before and I will say it again, Dan and Ned are geniuses for developing STEEMIT but by doing so they have effectively tossed a snowball into the fire of hell.
The problem now is whether by tossing this snowball into the Social Media melting pot there is enough liquidity to make this happen.
When I say liquidity, I simply mean pure CASH..!!
CASH vs NEGATIVE BETS
What we have now got is a situation that is quite precariously balancing between Cash vs Negative Bets and one that has the ability to drive the price down further at these levels.
Let's face it, forget about the number of users, transactions, activity or quality of posts, at $17 million it is petty-cash and loose change to anyone who wanted to take a naked short bet on the price of STEEM.
Now before anyone jumps down my throat with what I am about to say, understand that I have EVERY DESIRE for STEEMIT/STEEM to succeed.
At a mere $17 million a leveraged short position could nail the price to the floor, and this is the real problem.
KILLER APPLICATION
I have been waiting for a platform like STEEMIT to come along for nearly TEN YEARS now and was totally blown away when I first saw it in August of last year.
The reason I was blown away was that for these last ten years I have had a killer application for the right Social Media platform operating within an environment like STEEMIT.
Could you imagine therefore my excitement when I was first introduced to the site.
THE REAL PROBLEM
Now the real problem we have is that if others have also seem the potential as I see it however on the other hand they will do whatever it will take to STOP the site from developing.
This is where users really have to decide what is it you want from STEEMIT?
The ability to share information within a decentralised environment or to make money from blogging?
I would be happy to talk to Dan and Ned and share with them what I believe is the Killer Application for STEEMIT.
If what I think is right then it would be like taking the snowball that was tossed earlier into the Social Media melting pot and replacing it with an avalanche.
Thanks again for reading.
Stephen