How to make Steem and Steemit great again!
I think we could give steem real fundamental value and it wouldn't require getting steem on some shady exchanges to do it!
What if we could get popular bloggers and influencers to come to steemit.com or dtube and actually stay here?
We have had our fair share of internet celebrities kick the tires on steem and steemit only to leave shortly after...
Now why is that?
Well, in most cases it is due to the quality of content having no bearing on its rewards.
That's fine, I mean with the current setup, it is how it is. Steemit.com basically is a UBI platform.
The more stake you have the more UBI you get (and yes I know UBI is not technically the correct term here, but I am going to stick with it anyways).
Well, that setup has discouraged those with large followings to make steemit.com (or dtube) a permanent home.
I mean who wants to see a whale's cat picture make 100x more than my amazing viral video that had 20 million hits on youtube?
(Source: https://steemit.com/steemit/@lifewithcrypto/make-steem-great-again-steemit-community-unite)
Ok, so how do we fix that without turning everything on its head?
I think if steemit.com would implement ad revenue sharing and/or allow individual blogs to sell ad space that would go a long ways in attracting influencers and keeping them here.
Then votes in steem would simply be like tips on top of what they are earning based on views and traffic.
Now we suddenly have an incentive for influencers to show up, produce great content that drives more viewers, while also earning a fairer income for their work.
And steem votes just become gravy at that point.
It might be a slow start at first getting this implemented, but I think if steemit,inc or some other well financed individual were to pay a couple influencers to get setup here and help drive traffic, and then we implement ad revenue sharing, I think this place could absolutely take off.
People want to leave youtube and some of these other platforms, but they need comparable income if they are going to do it, and upvotes alone on steemit.com have proven inadequate and likely won't be adequate even with communities and SMTs when they eventually launch.
I understand that we may have to wait until there are scaling solutions in place before we can go this route, but I sincerely hope this is on the roadmap for steemit.com as it could literally change everything.
Anyways, let me know your thoughts in the comment section below.
Stay informed my friends.
-Doc
This is in the same vein as simply giving the content creators more control of their property. Another idea I've had on this front is optional curation on a sliding scale.
If anyone can choose the curation for their content (0%-100%) it will make this place much more interesting. On top of that, Resteems are super important for getting more views. A referral code could be given to resteemers and users who click their resteem are tracked to them. This would allow us to start curating (distribute visibility) in more ways then one.
At it's core, curation is sharing income in exchange for visibility and we could be doing it a whole lot better.
Those are some interesting ideas. That would provide and additional revenue stream as well. We need more of those for sure.
I have an alt account called @steempatron attempting to address this very thing. I'm identifying accounts on STEEM with large followings outside on traditional social media and trying to keep them rewarded/engaged. I am also attempting outreach on personalities who have been on here previously and left or not at all.
That is a nice step, but likely won't be enough unless you are delegated a huge chunk of steem, which as we have seen seems unlikely.
Well, I guess it's better than just talking about it. No offense, but there's an awful lot of that going on here, and not a whole lot of action to show for it.
For sure, like I said it is a nice step. We just need to go a lot further and it would help if we had Inc's help.
If STEEM were a traditional company, they'd have a marketing arm with a shit ton of SP giving influencers upvotes and delegations, and especially large ones for talking about STEEM to their followings. The grassroots level focus thus far on STEEM for helping the little guy, which is worthy of praise of course. But there's a massive horde of little guys just waiting to funnel their way in through these influencers. The influencers that have remained are doing it as an also ran. Why should they evangelize this platform if their reception is tepid?
Exactly, they shouldn't. Why they haven't even tried to go this route is puzzling. My guess is because things couldn't scale efficiently? That is my hope at least, otherwise I don't have a legitimate guess for them...
Might want to keep an eye on Scot.. custom site will have some nice ad options.
I will be following it. You guys are doing a lot of good things on here, keep it up!
hats off you sir
I need a MSGA hat 🧢
If you get one, send me one too.
Resteemed so it could reach to the @ned and other team members of steemit ;) amazing idea.
Thanks!
This is the best idea I have heard in ages. Seriously, it's simple and I think it would work
Sometimes the simplest of ideas are the best ones. :) But seriously, if we can make this happen, I think it changes everything.
It's an out of the box'r which doesn't rely on algo changes to the reward distribution or whacky things like that. That's what I like to see. It had always been about content and people saying that content which is why it's such a good idea. Now here hoping someone sees it!
We will try to keep getting this idea in front of their eyes as much as possible.
Yeah, it’s the best idea you’ve heard since I wrote about it two years ago!
https://steemit.com/steemit/@ats-david/advertising-revenue-and-distributions-on-the-steem-blockchain
And then reminded people about it five months ago...
https://steemit.com/steem/@ats-david/we-need-advertising-revenue-you-say
lol
Ned shot it down two years ago. Now he certainly doesn’t care, as he’s likely on his way out of STINC. But I guess we can keep dreaming about things that won’t ever happen.
Also - I feel like I should have gotten some author credit for this post. :)
Keep up the good fight!
I think the more the community voices their opinion about getting something like this implemented, the better the odds it actually does.
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Thanks.
Influencers will not make the same level of income here without invest they own money...
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That is why ad revenue sharing is crucial.
Great Idea! I want to add few more points.
First of all, Steem's inflation should be deceased for rewarding the content creators. Current inflation is not keeping up with low demand. If Steem did not have relative high inflation, it would easily sit at top 30 in CMC.
Steem's Inflation should go to protocol developments, witness compensation and PoS interest (2-3% vs current 8.5%). Rewarding content creators should be done with SMTs. STINC can launch their own SMT and share profit from ads with celebrity creators by SMTs.
Steem Investors can earn TOKENs through RC/SP delegations. @steemhunt is already showing a good example. Creators and DApps will figure out optimum synergy with a token.
All the front-end DApps can try their own SMTs with different distribution technique. Finding a sweet algorithms to rewarding the best content is more than rocket science. A former founder, @dan thinks that he can fix it, I totally disagree.
DApps with SMTs can try different algos. @steemhunt, @actifit, @dlike and others are already experimenting. Steem's inflation and broken rewarding is helping its price.
Some good ideas in there. Have you got any of these in front of Inc?
A lot of the inflation comes also from the Steem Dollar (SBD) pegging, which is not ideal especially in a bear market.
The inflation rate of steem includes SBD emission, no?
Yes, SBD emission is included, but the problem is SBD is like debt which can increase or decrease depending on the market situation. If SBD and STEEM prices fall, converting SBD to STEEM can create additional inflation. This is what happened / happens during the past bear market.
Do you men if SBD falls below $1 but the total market cap is less than 10% of that of steem's? Or what market conditions are you talking about?
yes, exactly, if SBD falls below $1, people can still convert their millions of SBD to Steem, which can increase the Steem inflation a lot. Exactly that happened during the bear market. Unfortunately there is no function to convert Steem back to SBD if SBD rises above $1.
Well, do that math. There is only 9 million sbd in existence, of which $9 million worth of steem is accounted for. Any excess steem that is created due to the spread between sbd and 1 dollar is minimal. Especially considering there are 320 million steem outstanding. I doubt that even increases the overall inflation rate by 1%.