The last few days have made it pretty clear that steemit and by extension STEEM will fail. It's sad because I like this and think it was a solid concept. In fact I had a vision years ago of a site where you were paid for posting and commenting, that is the future. This is not the future:
In radio there is nothing worse than dead air. Service interruptions are the equivalent of dead air. Most people have little of no patience for dead air. And that is just entertainment this is not simply a social media network for entertainment purposes there is also a currency involved. When TV or radio goes off the air people just stop watching but we don't want people simply watching we want people spending money to buy tokens, ain't nobody going to buy tokens to use something that does not work. I was thinking of buying some STEEM but now I am not, I like my money and don't want to have a situation where I invest in something where I lose it all. When STEEM fails it won't be a situation where you can watch it go all the way to zero it will be a case where it simply stops trading. You just won't be able to transact anymore.
So we had a day of dead air and we emerge into a new paradigm of resource credits. Whereas before I could post and vote as much as I want now I can post 2 comments! Imagine how great twitter or any other social media network would be if you could only post 2 comments!
The problem before here was lack of engagement, we have a lot of people posting but not a lot of people commenting and voting. The point of posting is to get comments and votes, that's why people do it. This just made it so people cannot comment and vote as much, this will lead to even less engagement. People are going to be even stingier with their comments and votes, I am going to have to pick and choose. I can't even reply to the few people who have spent their RC to comment on my post. That is just rude.
They say this will clear up after a week or so, I wonder how many users we will have lost by then. If you comment and I don't reply just be patient, it might be a few days before I can get back to you. Am I wrong here? Is this not a fatal flaw?
Maybe I am wrong, STEEM is worth more than it was last week right?
On the other hand when I first started here about 10 months ago I was averaging $130 in weekly rewards, 3 months ago it dropped to about $13 a week, after getting forked hard?
Yup, that's $1.36! For the whole week! So that is about 1% of what I was getting 9 months ago. That is what I call diminishing returns. That's not sustainable, all the people who can afford to post full time on a couple of hundred bucks a week can't afford to post full time on a couple of dollars a week. How is @eveuncovered supposed to maintain her high level of posting on a few bucks a week? Anyone know where I can find some greener pastures?
This was an @funbobby51 original rant for @steemit, please give me one of your precious votes and comments, does anyone know how much RC a resteem costs?