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Author Topic: What are your thoghts on Steemit?  (Read 1447 times)

xtester

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NxtChg

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Re: What are your thoghts on Steemit?
« Reply #1 on: August 23, 2016, 09:55:40 pm »
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Right now posters have clear "please, please, please pay me" bias and that's annoying.

But gradually all those trying to post quality content to make money might attract a lot of paying readers, which in turn will attract quality writers.

It might work. Especially if owners have some budget they can spend on tipping in the first months.

Actually seems like they had a better idea - they give away that budget via signups: this both attracts new users, which now enjoy tipping, and gives the impression of it being a popular site (not just "owners buy posts to fake it").

And technically it seems nicely done. I do keep half an eye on it :) Too bad they don't allow normal login.
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xtester

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Re: What are your thoghts on Steemit?
« Reply #2 on: August 24, 2016, 08:54:38 am »
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Given that this project has managed to bootstrap itself to the top 3 market caps in such a short time, it's interesting to take a look at its architecture.

Only question is if it will be sustainable in the long run.

https://steemit.com/steemit/@shenanigator/official-steemit-faq-rough-draft-your-edits-are-needed

NxtChg

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Re: What are your thoghts on Steemit?
« Reply #3 on: August 24, 2016, 09:39:24 am »
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Only question is if it will be sustainable in the long run.

https://steemit.com/steemit/@shenanigator/official-steemit-faq-rough-draft-your-edits-are-needed

Thanks for the link, that's a lot to read. I skipped over it and it's immediately obvious that the project is way too complicated. The rewards scheme is so convoluted I still don't understand it.

Using their own blockchain, especially DPoS, adds more complexity, risks and inefficiencies. They would be much better off as a centralized startup. The mix makes no sense other than to try and push a crypto by a killer app, but in that case you need to start with a better crypto first, not an obscure, under-the-hood "afterthought".

If somebody builds a startup without its own crypto underneath and rises usual VC capital for it - they will out-compete SteemIt easily.

The name Daniel Larimer doesn't provide much confidence either :)

But as an experiment - that's an interesting project, who knows how it evolves...
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xtester

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Re: What are your thoghts on Steemit?
« Reply #4 on: August 24, 2016, 03:33:29 pm »
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Agree about the complexity of the project. But it seems this is nothing new in crypto, in fact, though almost all crypto projects are complex in nature, this may be the first project that has found a way to also target a niche of the mass market through a rather simple application.

Here is a link to a shorter post with clearer explanations: http://www.coindesk.com/steemit-blockchain-social-media-how-works/

xtester

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Re: What are your thoghts on Steemit?
« Reply #5 on: August 25, 2016, 08:46:32 am »
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By the way, have you looked at IOTA?

https://bitcointalk.org/index.php?topic=1216479.0

NxtChg

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Re: What are your thoghts on Steemit?
« Reply #6 on: August 25, 2016, 11:30:59 am »
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xtester

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Re: What are your thoghts on Steemit?
« Reply #7 on: August 25, 2016, 08:21:42 pm »
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By the way, have you looked at IOTA?

https://simtalk.org:444/index.php?topic=134.0

Well, it has launched in the meantime and looks quite promising.

Any other interesting projects you are watching?

NxtChg

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Re: What are your thoghts on Steemit?
« Reply #8 on: August 25, 2016, 08:54:08 pm »
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Well, it has launched in the meantime and looks quite promising.

Well, thanks for specifically mentioning that it launched.

Most, if not all, cryptocurrencies, except Bitcoin "work" because nobody seriously rattled them so far.

Same way 0-conf worked for years. Satoshi could have just skipped the whole proof-of-work and lasted pretty long.

Same way Ethereum worked, until somebody did rattle it and it turned out to be a joke under the hood. It looked so good that for a while I thought it was the real thing.

So of course it "works". You could also point at market cap as a "proof".

Any other interesting projects you are watching?

Yes, Simcoin. Doesn't leave much of the time to watch anything else :)

I've read the Corda whitepaper today and it looks much more exciting than Bitcoin.

If they are able to pull this off, it will change the world way more than our silly little cryptopunk hobby "basement" projects...
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xtester

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Re: What are your thoghts on Steemit?
« Reply #9 on: August 25, 2016, 09:31:51 pm »
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Yes, Simcoin. Doesn't leave much of the time to watch anything else :)

Sounds like your health is improving. Are we looking at a productive September? :)

I've read the Corda whitepaper today and it looks much more exciting than Bitcoin.

If they are able to pull this off, it will change the world way more than our silly little cryptopunk hobby "basement" projects...

Link?

NxtChg

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Re: What are your thoghts on Steemit?
« Reply #10 on: August 26, 2016, 10:35:09 am »
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Sounds like your health is improving. Are we looking at a productive September? :)

Officially I am still not working, but unofficially I do janitorial work, write unit tests, some tools...

My brain fog is gone, but at this stage I have to starve, so can't work productively anyway.

Link?

http://static1.squarespace.com/static/55f73743e4b051cfcc0b02cf/t/57bda2fdebbd1acc9c0309b2/1472045822585/corda-introductory-whitepaper-final.pdf

From here: http://r3cev.com/blog/2016/8/24/the-corda-non-technical-whitepaper
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grandpa_seth

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Re: What are your thoghts on Steemit?
« Reply #11 on: August 28, 2016, 04:30:05 am »
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I wish you the best health wise as always. Minions are still around to support you.

NxtChg

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Re: What are your thoghts on Steemit?
« Reply #12 on: August 28, 2016, 07:33:46 am »
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I wish you the best health wise as always. Minions are still around to support you.

Thanks!
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xtester

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Re: What are your thoghts on Steemit?
« Reply #13 on: September 03, 2016, 06:23:41 pm »
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Sounds like your health is improving. Are we looking at a productive September? :)

Officially I am still not working, but unofficially I do janitorial work, write unit tests, some tools...

My brain fog is gone, but at this stage I have to starve, so can't work productively anyway.

Link?

http://static1.squarespace.com/static/55f73743e4b051cfcc0b02cf/t/57bda2fdebbd1acc9c0309b2/1472045822585/corda-introductory-whitepaper-final.pdf

From here: http://r3cev.com/blog/2016/8/24/the-corda-non-technical-whitepaper

If you take a look at the markets, you can see the time is ripe to finally launch Simcoin.

Hope the health keeps improving and we start making some serious progress.   8)