The powers of a social media platform on a distributed ledger by acidyo

View this thread on steempeak.com
· @acidyo ·
$32.83
The powers of a social media platform on a distributed ledger
One cool thing about Steem that I absolutely love about is the diversity in people. Of course much like Bitcoin where the wrong people got to surround themselves over it first because it was being used on dark markets (who must love to find out now that it wasn't as anonymous for payments as they initially thought). It will take some time until more of the right people find out about Steem as well, I'm not trying to judge anyone with this comment, it's quite obvious after the last time the price was going back up - a lot of accounts became active again on Steem.

With every new ATH of BTC we saw more and more hype around it which last time brought a lot of developers onto the space for the first time and all the news we heard about top minds moving away from their current top companies to work for a project related to blockchain. We can see the same things here, after the uptrend we saw a lot of new developers introducing themselves to Steem and starting to build dapps, it wasn't even so long ago that Steem Fest occurred where after we saw many new dapps be announced. Of course price matters a bit right now as many of these dapps would love some extra funding to develop their dapps faster and make them ready for mass adoption, but it's not completely killing them and even though part of that is due to the rewardpool still giving out funding daily compared to other dapps on other blockchains where if they've burned through the ETH they had received through ICO's they would be dead at this point. I've talked about the advantages of being able to less invest in dapps and projects through delegation/votes so I'm not gonna talk about that a lot but I believe delegation will play an important part in building dapps and maintaining their users. A lot of these developers have looked at the space and settled in for a blockchain they believe will make great use of their dapp and will fit right in. There will be many dapps started here, many will probably fail and never gain much traction, but we can afford that, our investments are allowing us to gamble on the reward pool and attract this and that much onto the dapps we think have a good chance at becoming the next big thing. We're not risking our stake to invest in these things, in fact we get rewarded for rewarding the right stuff through curation rewards, what we risking, thought, is the value of our investment if gone to the wrong people. 

This will over time keep filtering out the wrong players and reward a wave of new investors through a possibly next pump. I keep warning people about the market being full of surprises and if you're a person who can't trade on a weekly bases you may miss the boat fast. Crypto markets move fast, you have to imagine that the whole world is involved in speculating on these markets at the same time 24/7/365. This is not like something we may have ever witnesses before, we've seen it time and time again how fast Bitcoin reached ATH in the end of 2013 and again when it went for $20,000 only this time it feels the tail lasted a lot longer which could be explained due to all the lost funds of Mt. Gox that didn't get to be sold off in early 2014. The reason I said filtering is because many may not make it back even if they wanted to. Think of the possibilities investors could think about a rise in price if it were to happen again, first it will probably be something like "oh well I'm holding Bitcoin so I hope it will rise the first" or "Steem will probably lag behind with two weeks again like last time - I'll just buy before that" or "it's fine, I can just earn more when I become active again". There are possibly many more alternatives to that thought but what I'm saying is that ever since some time ago alts have been moving in quite a similar fashion as Bitcoin which has made alts lose out on 2x more while Bitcoin has gained dominance over time. 

Anyway there are a lot of thoughts going on right now if Steem has a possibility of dying because there are so few active users on right now, but remember that we are comparing this to our own standard. Last ATH was insane, steemit.com was literally a top 1000 website in traffic, how do you think the activity is on eth dapps or eos other than gambling apps? Well from my own judgement compared to Steem it's looking a lot more dead on those apps than here, especially considering the growth of dapps we are seeing even at the most bearish point in the market. 

One super strong advantage to Steem and the diversity of it's users, meaning that all over the world people are able to sign up and use it daily. The fact that we are used so much more in developing countries than in others it just means that they realize the advantages our blockchain tech gives them than the ones who are already comfortable with their current payment methods. Which shouldn't be as Andreas Antonopoulos mentioned in a recent video how 'ridiculous it is that so many middlemen get in between of your abroad payments go to services that move bits around the internet that now can be done for free', which is true at least on Steem considering Eth and Bitcoin cost a fee. On Steem we can easily read and see what others are doing, has someone said he is invested in Steem and is working towards it's improvement? Can he back that up with stake and activity? Alright then he's probably more worth listening to than someone spreading baseless FUD or conspiracies around. That's of course not always the case and not all projects will survive each bear market, but for many innovative open-source blockchains that keep on improving and doing their thing they will be worth to find out how the experiment will turn out for some new people out there over time.

Here is a video of Andreas Antonopoulos that's almost 2 years old where someone asks him if he has heard of Steem, go to minute 49:00 to have a listen:

https://youtu.be/Ibz_HMKHQl4

He mentions that a lot of people have told him to use Steem and unfortunately the majority went with the "you can make a lot of money there" which to any sane person it would sound like there's something there that's not legit. Now that's coming from someone who knows about blockchain more than 99.99% of the population, imagine how it would feel like to a newbie who gets on Steemit.com the first time, realizes there are no ads or visible revenue generation and you'd expect him to believe Steem is not a scam? A lot of people are not aware of blockchain, why it works, why it's an innovation and how much different it seems than conventional platforms and why it can reward users for their activity. That's something some people have always lead with because the excitement for Steem when it first came out caused a $4 pump which during the non-linear phase caused some posts to earn tens of thousands of dollars. So a big wave of people like Andreas have already forgotten about Steem because it seemed too good to be true at the time and they didn't even bother to look into the depths of all the other advantages of Steem. 

The thing he mentions about behavioral incentives is also true because here we reward those that don't just troll all day. Central platforms have tried to silence trolls, ban them but they always keep finding a way back in. Here we just say, "hey the majority of users here right now don't really care for your attitude, but maybe you can find your kind of people and make a community out of it". 

Anyway, at the end of the speech he goes on to mention that what Steem is trying to do is interesting and that there are others out there trying the same thing, he mentions "yours" which is a bitcoin cash forum where you can tip authors and some content requires tips to be read. What others could he be talking about that were trying to do that at the time? Well two of them are Library and Synereo. Now since people here like to mention how "rekt" the price of Steem has gotten, let's take a look at how those supposedly competitors have been doing during these harsh times, shall we? 

[Synereo (AMP)](https://coinmarketcap.com/currencies/synereo/) has changed name to HyperSpace (woaaah bro) and is ranked at 591st on coinmarketcap. [Library Credit (LBC)](https://coinmarketcap.com/currencies/library-credit/) which was making some waves during the ATH of Bitcoin is currently ranked 373rd on coinmarketcap. Look at that for comparison.

Anyway, take a look at some big accounts on Steem every now and then, if you notice that many are powering up (remember that the bigger they are, the more they have to lose) then compare it to other blockchains where many big wallets are accumulating and think about what that could mean for the future of these "currencies". 

___

https://steemitimages.com/0x0/https://cdn.steemitimages.com/0x0/https://media.discordapp.net/attachments/331165119612452894/353956387350380544/acidyo-posting-banner.gif
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vote details (1411)
@lionsuit ·
$0.06
Cheers to diversity!
👍  ,
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@luegenbaron · (edited)
$0.10
Thanks for your posts!
In my opinion they make steem more valuable and I can use them to show people, why and how. ;)
👍  
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@acidyo ·
Hehe, that's nice to hear, mention to them that english is not my first language so they won't get as confused. :D
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@luegenbaron ·
Which is your first language? 

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@abh12345 ·
$0.20
Cheers for the video link!

Seen this guy a lot but not the talk on Steem.  Sharing around, useful!
👍  
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@teodora ·
I had seen many videos lately, others people here have share them, but is the first one where he says something about steemit
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@newageinv ·
$0.21
I think that the problem we are having is the hangover of the hype run higher from the expectations created as you mentioned related to making money... The fact is I prefer to eliminate the payout disclosures in any fiat and instead use the Steem based currencies as it would be more relevant towards the focus on the ecosystem and not the money!  Despite the declines in prices, the amount of Steem to be earned is great in these moments and should be leveraged as much as possible!

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
👍  
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@acidyo ·
Have you checked out steempeak.com? They use STU instead of the $ amount which is displaying the wrong amount nowadays anyway.
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@newageinv ·
It has been awhile but that is great to hear!  Will check it out, thanks!

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
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@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/acidyo__the-powers-of-a-social-media-platform-on-a-distributed-ledger.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
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@frankbacon ·
Highly rEsteemed!

![steemit-decentralized-social-network-2.png](https://cdn.steemitimages.com/DQmb7QjF5YKo7DuxuQ5j6hgjUWiEM2xKY75RaMSfNuxUmbE/steemit-decentralized-social-network-2.png)
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@awesomianist ·
He did made an account and corroborated it with his Twitter sometime ago (@aantonop), looks like he haven't even claimed his post rewards.

It's kinda sad as he is currently funding his endeavour with Patreon, which really  is feature on Steem using autovote the way banking is a feature on Bitcoin.

People shouldn't say "you can make money on Steem" anymore the same way they shouldn't say "Bitcoin will make you rich". That really isn't the point. 

The point of Steem is a decentralized (we gotta fix that tho) p2p censorship resistant social network that allows us to reward content we like. I've received enough "your post has been taken down" emails to know how important censorship resistance is. It's more underrated that most people think.

I think this bear market is a good thing. It allows good project to be separated from the fraud. This is also the time for developers to prove themselves with updates and better apps/dapps. 

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@agnikana ·
When i first met Steem it was sold to me as a money machine. I had to study A LOT, and I still know nothing. But it's definitely not a money machine. It has obviously helped me in incredible ways, but the way it works is still weird. Good content is lost under crap with high revenues. So it's not about content. And the thing that bothers me the most is that just like most altcoins, if not all of them, its price is attatched to btc. I'm still a newb that doesn't understand WHY. It should have its own value and it doesnt.
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@masterthematrix ·
Why is he not mentioning Steem at all? He has an account here on Steem why is he promoting Blockchain Social Media and not using it???

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@kennyroy ·
Hi there bro. I have a concern about smoke.io. I send a message at Discord, please response. Or is it okay here?
👍  
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vote details (1)
@thebigsweed ·
I love the diversity found here on Steemit.
I feel that as a platform we are moving in the right direction and only time will tell if the path forward is a bright one. In the mean time, my plan is to continue to stay active on the platform which I love doing. I have met people from all over the world, and love the knowledge gained from this most wonderful experience.
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@arcange ·
Congratulations @acidyo!
Your post was mentioned in the [Steem Hit Parade](https://steemit.com/hit-parade/@arcange/daily-hit-parade-20181209) in the following category:

* Upvotes - Ranked 7 with 1395 upvotes
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@steem-ua ·
#### Hi @acidyo!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your **UA** account score is currently 7.951 which ranks you at **#33** across all Steem accounts.
Your rank has dropped 1 places in the last three days (old rank 32).

In our last Algorithmic Curation Round, consisting of 253 contributions, your post is ranked at **#3**. Congratulations! 
##### Evaluation of your UA score:

* Your follower network is great!
* The readers appreciate your great work!
* Good user engagement!


**Feel free to join our [@steem-ua Discord server](https://discord.gg/KpBNYGz)**
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