Warning: Steem witnesses executed a hard fork on 2020-05-20, seizing 23.6M STEEM from 65 accounts. The funds were transferred to an account named @community321, the ownership (and intentions) of which have not been revealed. The witnesses claim to have been targeting accounts which defended against a hostile takeover in early March, but at least 2 accounts on the list have been inactive for over 4 years.

Coverage:
- Decrypt.io: Steem network to seize $5 million from its own users
- SteemPeak.com: Official Announcement by @softfork22888
- GitHub.com: view steemd HF23 changes

What you can do:
- Send exchanges a notice of the pending class action lawsuit.
- Switch to HIVE, the community-led fork. Visit Hive.blog and Hiveblocks.com.

Thoughts about mainstream social media app by funtraveller

View this thread on steempeak.com
· @funtraveller ·
$0.06
Thoughts about mainstream social media app
So I've been spending some time on mainstream social media lately.


![image.png](https://images.blurt.buzz/DQmQVv1ZXkX69wnKLX5rvNh2toB5uHLcg2NJsAu8CWPwwJo/image.png)
[source](https://pixabay.com/illustrations/social-media-media-board-networking-1989152/)

In recent weeks, I started viewing videos in [Tiktok](https://www.tiktok.com/en/) which I find to be really entertaining. Although I feel that it's a complete waste of my time watching them, I still feel moved towards it. It's really obvious that the app has a way to feed me with videos that I enjoy. It's as if it knows what are the things that will keep me motivated to watch and continuously use the app. It's a scary thought. 

The algorithm that made the app is learning a lot about me in real-time.

It's evident in the way the videos are flowing through the [#foryou](https://www.tiktok.com/tag/foryou?lang=en) tab. 

For example, whenever I watched a video of a cat from the start until the end of the video then the app will feed me with more cat videos on my [#foryou](https://www.tiktok.com/tag/foryou?lang=en) tab. And then if I watch more of those cat videos then it will feed me with more of those kinds of videos more frequently. 

It's not a wonder why Tiktok is one of the most downloaded apps in 2020 and it still keeps on rising in the coming years. One reason why I said that is the fact that they started paying users that are categorized as [social influencers](https://influencermarketinghub.com/what-is-an-influencer/) or "creators". The company behind the app has allotted a good amount of money to what they call [Creator Funds](https://www.bustle.com/life/how-tiktok-creator-fund-works-users).

The Creator Fund started with a total amount of $200M to be distributed to users that are over 18 years of age. For as long as the user has 10k followers and a total of 10k views in the past 30 days then that user will be eligible for the pay. In further research, I learned that [one of the famous Tiktok users has earned a total of  $4M in a year](https://variety.com/2020/digital/news/tiktok-highest-earning-stars-addison-rae-charli-damelio-1234727502/). 

Out of 800M Tiktok users; one of them has access to 2% of the total fund. It sounds awesome and alarming as well.

Obviously, there's a huge gap in rewards distribution over in that platform. I made it sound bad but the implementation of it is not inferior at all. In order for a user to acquire this much money out of the system, the user must be really famous with a huge following that will really like the videos posted. The user that earns $4M in a year has 77M followers, that's a tough number to crack.

Essentially, it will take a huge crowd to make it happen and it's a legitimate number.

That made me searched how many registered users that [Steemit has; a total of 1,238,717 users](https://en.wikipedia.org/wiki/Steemit). Although I'm not sure whether this info is updated, however, it's obviously an inferior number compared to what Tiktok has. Both of these social media platforms started at the same time way back in 2016.

For that, I realize that the fuel that powers the Tiktok app to reach its success are the users. It's something that any of the social blockchains (Blurt, Hive, & Steemit) haven't touched on yet. It remains a mystery why none of these chains haven't replicated the secret sauce yet. Despite all of the really good features that are being offered to the masses.

The aggressive marketing campaign and intelligent algorithm of Tiktok app have clearly dominated the social space. 

And I believe that in order for the social blockchains to garner a portion of the masses a big leap has to be made in terms of development. Also, we need to bring the product closer to the consumers and give them a good reason to accept it.

*Nothing beats a great product.*
👍  , , , , , , , , ,
properties (23)
post_id88,511,734
authorfuntraveller
permlinkthoughts-about-mainstream-social-media-app
categoryhive-159906
json_metadata{"app":"steempeak\/2020.07.1","format":"markdown","tags":["blurt","blurtlife","blurtpromo","blockchain","dblog"],"links":["https:\/\/pixabay.com\/illustrations\/social-media-media-board-networking-1989152\/","https:\/\/www.tiktok.com\/en\/","https:\/\/www.tiktok.com\/tag\/foryou?lang=en","https:\/\/www.tiktok.com\/tag\/foryou?lang=en","https:\/\/influencermarketinghub.com\/what-is-an-influencer\/","https:\/\/www.bustle.com\/life\/how-tiktok-creator-fund-works-users","https:\/\/variety.com\/2020\/digital\/news\/tiktok-highest-earning-stars-addison-rae-charli-damelio-1234727502\/","https:\/\/en.wikipedia.org\/wiki\/Steemit"],"image":["https:\/\/images.blurt.buzz\/DQmQVv1ZXkX69wnKLX5rvNh2toB5uHLcg2NJsAu8CWPwwJo\/image.png"]}
created2020-11-22 07:50:24
last_update2020-11-22 07:50:24
depth0
children0
net_rshares333,717,956,783
last_payout1969-12-31 23:59:59
cashout_time2020-11-29 07:50:24
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.064 SBD
promoted0.000 SBD
body_length3,832
author_reputation146,779,926,762,207
root_title"Thoughts about mainstream social media app"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (10)