And You Wonder Why Steems Price Is Tanking
I finally hit my milestone of 50k steem powered up which was a huge goal of mine for the last two years. I have spent hours which have turned into days and into months of time spent on steemit providing what I consider good quality articles that have to deal with crypto news but then have my own opinion to try and start discussions.
I have been a rather big investor into steem, into communities on steem such as Neoxian which have actually BOOSTED the price of steem. Without steem-engine and these communities I honestly feel we would be sitting well below $0.10 per steem right now.
What thanks do I and all of you get for all of this ?
Free downvotes for whales such as on my last post. Where I bought YES BOUGHT SBD to promote that post to help promote neoxian which yes INCREASES the value of steem.
Oh but not only that we now earn LESS as content creators. You know the people that write content that brings people into steem via search engines and helping welcome people to steemit and sub communities.
Seriously if you wonder why steems price has been tanking this is a CLEAR case study of why. I literally after that crap yesterday might have pushed me over the edge to finally take my time and money and invest it elsewhere. It literally pisses me off and honestly it should start pissing some of you off as well.
So while this post might create enemies for me and bring even more downvotes to me I literally don't care anymore because this stuff is bullshit. So A BIG FAT MIDDLE FINGER to my free downvote person @smooth
true enough. I still think something is better then nothing though.
It’s impossible to make everyone happy. Perception of the same exact thing differs drastically from one individual to the next. Huge downvotes would piss me off too. They are probably just jealous of something you have which they wish they had
Respect
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Exactly! It’s mind boggling that no one at the top ever took the perspective of an advertiser who buys Steem in order to promote content. I joined Steem to market and advertise for clients, the rewards were just icing on the cake. I knew things would go south after the hits counter was removed: It’s impossible to use author/curation reward metrics to convince an advertiser.
Now which advert would pay for an advertorial knowing the risk of a downvote 🤔 smfh
With you on this bro, it’s total BS and holds Steem value back by alienating advertisers who may want to purchase Steem/SBD and ‘boost’ their posts like on Facebook.
Cheers !BEER
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Exactly I can understand a downvote on something that is pure crap content. But just a flat out downvote for using a voting bot is dumb when its being used as a promotion tool. Yes people abuse voting bots that will always be a thing even with these changes. But if its valuable content then who the freak cares lol
I have to agree with you it sure is getting out of hand my friend. I've seen a lot of posts that are worthy of a down vote but certainly not yours.
it is literally nothing at all like someone who pays money to boost a post on Facebook. Without downvotes, you actually MAKE money to promote your content when using a bidbot. Name me one other platform in the wide world of the interwebs and even beyond in real life where instead of paying money to advertise, the actual act of advertising itself makes money! Not talking about potential benefits coming down the line from exposure from advertising, but the actual net cost of taking out the ad itself - IT IS SUPPOSED TO COST MONEY TO PROMOTE. Anyone who doesn't understand that Steem has been ass-backwards on this point up until now, and who is taking exception to some flags that take their promotion out of profitability and brings it back in line with reality... well probably not much to say to someone like that :) Have fun in fantasy land.
No you don't lol you use to but with the changes you actually make less
According to what moral theory?
Are you saying that making money is now "bad"?
With that attitude, it's no wonder steem is dying.
I agree 100%
View or trade
BEER.Hey @bitcoinflood, here is a little bit of
BEERfor you. Enjoy it!ahhh just what I needed thank you 🍻
People are just jealous, they want what you have without putting in the work, brush it off your shoulders and keep moving forward.
I normally do but we all have those days when it just gets to you. Today was that day for me. Thanks for letting me vent a bit :)
6 downvotes boohoo
I got 77 lol
To be fair your post was worth reading my post was less than this comment but just used bots to see what would happen. Having said that as you I did purchase the steem which is probably the last time.
I don't see the point in powering up as you can't vote yourself else will probably be 'abuse'
So why should I buy just to give out votes so people can cash out?
Don't give up, chin up
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I am not that far as you yet but feel exactly the same.
If you invest in writing you earn 50% of.. unless and if not...
I spend 12 hours a day on my mobile phone, most of my time is helping out others and commenting and voting.
Content is no longer yours no matter on which tribe you post, steemit is the source, there is nothing to earn if you help newbies, I bought Steem too although I could better invest it in my children or me. The last Steem I bought I did not use to power up and I won't. Not after the ridiculous e-mail Steemit sent me...
They better do something fast because this whole downvoting will kill the platform. Without content creators there is nothing to curate.
Good you wrote this!
Enjoy your day and the fact Steem(it) is not the only one. 💕
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100%
The downvoting is getting out of hand and there is nothing we can do.
Well we can complain, try to reason with the bullies, ask them to explain the moral theory they're defending, point out to them that their economic model is incoherent and abandon ship if they remain intransigent.
Sorry to hear about this. Perhaps @neoxian attempt to fire-wall neoxian tribe is the answer. If there is centralization with integrity (such as our tribe) we will be protected from such nasty fallout!
Don't pay too much attention to Smooth bro... My take is that he's a smart dude, but socially he's not interested in being part of a community per say. He's an investor, he's looking out for his bags, he's not considering anything else besides that.
I for one, Im happy you are still around... Cheers mate.
I highly disagree with this, I think smooth is the most consistent person when it comes to how he uses his downvotes. It’s not personal, it’s not abusive and he’s been very clear on what he downvotes - bought votes. He feels they are not healthy for the economy and therefore uses his stake to state so. He also uses his stake to curate too.. as was intended.
I think what’s unhealthy is the butthurt and entitlement that comes from those so used to sucking what they want from the pool - How dare a stakeholder use their stake to redistribute from something they thought was over valued?!? 😱
That’s the whole point of the system - stake weighted up and down votes to distribute inflation to where they feel adds value. Consensus is found at the end of the payout period and funds are transferred.
Stating that someone must be downvoting because they don’t care about the community or being a part of it is just silly. People need to learn how to take a downvote and if the true point of this individuals bought votes was to “promote” something.. he shouldn’t care that he may lose a bit of money, as promotion costs money and as long as it got that attention it was worth it, right? Or is the frustration because it wasn’t about promotion at all, rather making a profit by buying votes?
It’s not like the guy got $30 worth of malicious downvotes like many users are getting.. Hell his post was still on trending.. sounds like promotion wasn’t the goal in the slightest, maybe we need to be honest with ourselves.
(Oh and to clarify, I’m also glad the guy is here and don’t think the post was bad.. but I think it’s quite a lot of irritation for a few small downvotes on a bid botted post).
i kind of came from your angle, worded it poorly. Meaning...
It's not personal, its not against Sean.. it's just him looking out for his investment.
Well then perhaps when you flag there should be a clear reason you type in for the flag. Being here for the last two years I know a few bad actors that just flag because they don't like someone and yes at that point it is a personal attack.
It was meant for promotional reasons you can clearly see that by the post. Of course I care about my investment as well otherwise I wouldn't have bought thousands of dollars worth of steem when it was over $1 each.
It wasn't just this one time its been happening a few times recently and like ANYONE who is human we all have those days when it just hits you the wrong way and you need to vent a little. Steem and some of the big names on here lately have seriously irritated me how they have been running things. I am sure there are much worse posts that would need the downvote instead lol
According to what economic theory?
(IFF) paying for endorsements, self-endorsements, advertising and marketing are "evil" (THEN) we should kill the banner ads and any post that mentions a commercial product, movie, television show, or corporation.
I'm pretty sure people want money to pour into steem (to boost MARKET-CAP) and the most obvious way to spur investment is with promotion services and paid endorsements.
Have the free downvotes "solved" the "problem"? NO. Steemit is still shrinking. Users are fed-up with all the downvote bullying.
Kicking over someone's tip jar so the coins spill into the sewer to be scooped-up by the wealthiest top-earners is not "free-speech".
No one said they were evil, in fact they are all encouraged.. except it should actual have to be paid for. As in - cost money.
Everywhere all over the internet and in real life, advertising costs money. Those banner ads are paid for, marketing is paid for. There is no “Come buy some advertising and we will immediately give you back your money plus some!!” .. that’s not how it works. This is why most individuals who used bid bots had absolutely no interest in promotion, they just wanted a return. So they could pay 50 STEEM and their shit post was all of a sudden on trending. They got their 50 STEEM back immediately, plus some. This has nothing to do with promotion, and if it did, then why would they be upset by downvotes? They still made their post visual, right?
The problem is not promotion, the problem is a model that is not promotion in the slightest.. it’s using a service to self allocate the inflation pool to oneself.
Have you noticed those posts who set the beneficiaries to null and buy votes don’t get hit that bad? Because the author is clearly “paying” for said promotion by burning some of the reward.. which shows they aren’t doing it to self allocate, but because they want eyes on their post. That is how promotion is supposed to work.
Also having individuals who buy votes then hinder the idea of a community with “proof of brain”.. as the community had no choice in allocated its shared inflation to that author, they had no part in it. The author decided themselves what their post was “worth”.
Also.. not sure how your tip jar analogy works unless you literally are putting the tips in their yourself.. as the community didn’t allocate the inflation, the author did.
And free speech has nothing to do with being guaranteed to get paid every time you talk, not sure what this has to do with free speech. Was someone silenced and censored? Did the content get removed from the blockchain when the author was downvoted? Where exactly does rewards have anything to do with free speech?
And have a couple weeks of limited free downvotes “solved” the problem? Well depends on what problem you mean.. it’s solved the problem of plagiarism and spam being rewarded highly and a trending page covered in it. I still think we have a long way to go before that page is anything anyone wants to see, but change happens slowly.
Has downvotes “solved” the low price of STEEM? No. And it wasn’t thought it would.. but I’d say that 3 years of anything goes and authors and investors self allocating large portions of the inflation pool to themselves didn’t either.
I’ve written about downvotes quite a bit and very much understand the frustration, and think it’s normal to have some bumps on the way to finding a balance. I think we have a long road to improve Steem as a whole and this is just part of that journey.
That's exactly how it works.
Spend $10,000.00 on this television ad promoting your car dealership and make $100,000.00 in sales over the weekend!!
Almost all ads are purchased because, "you will immediately make back your money plus some!!”
In sales, yes. You spend money and due to that attention you make money. The ad company doesn’t give it back to you. In this case, you pay the service for the promotion and and they give you your money back plus some.. you didn’t get more “sales” the public didn’t see your product due to the advertising and buy it.. you paid a service and they immediately gave you back your money. Very different things.
They could, conceivably, give you an instant-rebate.
If an ad company gave you an instant-rebate, wouldn't that be within their rights?
If an ad company gave you an instant-rebate, would that be "bad" for the overall economy?
I still don't see the "problem".
The reward-pool has exactly the same effect on inflation and MARKET-CAP regardless of who gathers the largest share.
The reward-pool's economic effect does not change.
It doesn't matter if people use bid-bots or not.
It doesn't matter if people self-vote or not.
The same amount of steem gets injected into the economy regardless.
This makes no sense.
When someone declines rewards, they're basically dumping all their coins into the sewer, where they are scooped up and redistributed to everyone who didn't "decline rewards" with the largest share going to the top-earners (including the steemcleaners which consistently ranks in the top 5).
So, when you decline rewards, you are essentially donating your rewards to the biggest fish.
Of course they're not going to waste a downvote on people who decline rewards, because they've already essentially downvoted themselves.
Setting a portion of the beneficiary to null is not declining rewards, check it out.
Ok, well, declining rewards seemed to be the #1 suggestion that I was seeing.
Burning steem is idiotic (and still primarily benefits the big-fish and top-earners anyway, via-deflation).
https://steemit.com/newsteem/@logiczombie/so-you-want-to-burn-your-steem
Self-voting adds ZERO to the inflation rate. The reward-pool doesn't change.
The "proof-of-brain" doesn't exist. Active whales and top-earners upvote idiotic posts just as much as the bots do. There is no mechanism in place to detect brains.
The author who invests their OWN MONEY into steem-power gets their fair share of a daily allowance (reward-pool), based on their personal INVESTMENT. They should be free to spend that daily allowance (upvotes) to promote any content they deem worthy, even if it is their own.
You can't have a properly functioning FREE-MARKET if you demand that people spend THEIR OWN MONEY only in ways that you personally approve of.
What you're saying is, yes, you invested in steem-power in order to get a bigger allowance, but you can't spend it on yourself (but fail to explain why not).
It would be like saying, you can't shop at your own store and you can't eat at your own restaurant or advertise on your own bill-board.
Self-voting has absolutely no effect on the inflation rate or the MARKET-CAP.
I’m not even sure what you are talking about at this point 🙂 - self voting with your own stake is different than buying votes, which was the original point of this discussion.
Yes people can vote what they want with their stake - that includes up and down votes.
Never said any of this had any affect on the inflation rate, rather where that inflation is allocated.
Thanks for the chat 🙂
Why does it matter "where that inflation is allocated"?
How can buying votes (endorsements) possibly cause economic damage?
Isn't it simply commerce? Don't we want a functioning steem economy?
Don't we want more people to buy goods and services with steem?
Self-voting has no effect on the inflation rate.
STEEM was dropping long before you got downvoted. I saw that post. I had downvoted but then removed the downvote because I knew you'd freak out and I didn't want you to be treating me like a thug for no reason other than you having severe issues of entitlement.
You bought SBD. Awesome. You used that to promote a post to trending. After receiving the downvote, you were still on trending. You got exactly what you wanted.
What's interesting to me is the fact there were NO COMMENTS under that post. As a promotion, that was a huge fail. Will you acknowledge that fact? Your post sat there, taking up space on trending, and nobody was interested in it, for many hours.
One comment was spam from minnowbooster. Another comment was spam from tts. Another comment was spam from Steem plus. Then your comment complaining about the downvote (that had NO effect on the trending status or visibility you purchased) then a response to your complaint.
As someone who has used that tribe since day one, and every day since then, and a stake holder, I would have liked to see you do a better job.
You also purchased votes for the post before that, and the post before that. You're farming rewards. If you want that Steem so bad, purchase from the market at full price rather than using exploits to get it cheaply, especially when you're sitting here acting like you do so much good for this platform.
Wouldn't those content producers be earning more if you voted for them instead of yourself half of the time, then double dipping to self vote AGAIN with paid votes?
Isn't that something... I find it so damn interesting those who pout the loudest and act the greatest often hide so much selfishness behind the scenes.
If you buy votes for this post:
https://steemit.com/spt/@bitcoinflood/attack-of-the-water-splinter
Like you did for this post:
https://steemit.com/spt/@bitcoinflood/we-back-with-life-splinter
And continue to use that same template to farm rewards out of the pool using exploits for profit, I will be tempted to downvote.
Will you then treat me like a thug and act like it is me who is being selfish? Will you act like it is me who is taking things away from others or will you take a damn good hard look in the mirror?
How many times have you threatened to leave already? I've seen these tantrums more than once coming out of you. I said nothing. I see you complaining quite often. I said nothing.
I saw you buying votes for plain actlift report cards to the tune of $20! I said nothing. That is NOT promotion. I said nothing.
Watching someone like you act one way in front of the public and then quite the opposite behind the scenes is sickening. It bugs me. And I said nothing.
There's your "Case Study."
Have a nice day.
That was before the changes of steemit when everyone else under the sun was doing it.
NO. You're still doing it. I included a link that isn't that old to prove it.
NO. Not everyone else was doing it. I don't buy votes. I know many others who didn't as well. A lot of people were doing it, for two years, and that drove thousands of good people away. Thousands. Your behavior as well all those under the sun contributing to the falling token value, for two years. You didn't care then and you won't be able to convince me that you suddenly care now.
Shape up dude. You can do better.
The real reason why you're upset, in my opinion, is because you've been sitting here farming rewards and trying to fly under the radar for a very long time. Now it's not a good choice to use exploits and farm rewards, like you do, and that upsets you. It's all about you and you're trying to deflect that on everyone else. That's what this looks like to me. You'd much rather continue to be what some would call abusive. That's how it looks to me.
And to be fair, I don't think you're evil or something like that. You just got caught up with the riffraff, doing something you thought everyone else was doing, and maybe didn't realize how much damage it was doing to those around you. We all make mistakes. Maybe you don't consider what you're doing to be a mistake. I always said, and it's published many times, that I won't hold a grudge and despise people for doing what so many others were doing.
Markymark has 44000 accounts on a blacklist because of the abuse. Something had to be done. There's no need to continue being part of that problem.
*edit: After further review, I'm almost regretting offering the fairness card. I may have been wrong.
One major potential source of steem demand (MARKET-CAP) is advertising money.
If you demonize promotion (endorsement/advertising) you're shooting yourself in the head.
The steemit banner ads are functionally identical to bid-bots and spam.
The key difference is that the banner ads are denominated in $USD instead of steem.
More money in promotion when the one using promotional services doesn't profit.
Remove the profit and suddenly you see how these folks didn't want to promote, they wanted profit, which is why they spent money buying votes for nonsense, when a true promotion is designed to make people care.
You're shooting yourself in the head if you can't see the fact these people weren't promoting a damn thing to anyone.
REAL promotion, I'm cool with that. These fucking amateurs don't know shit.
According to what economic theory?? The whole point of selling endorsements is to make more money. The whole point of buying endorsements is to make more money. How exactly does making more money (profit) damage this system?
The reward-pool is "new-money" not "profit".
That "new-money" has exactly the same economic impact on inflation and MARKET-CAP regardless of who collects it. So gathering reward-pool hurts nobody.
Not exactly, promotion is designed to make money, generally pay per view or pay per click.
The key downvote complaints that brought this whole thing to my attention in the first place were basically, "you made the trending page with paid bid-bots and that makes you evil".
If I could pay 20+ steem to make the trending page, I'd do it every single day!
IT'S A FREE-MARKET BABY!!!!!!
And I can't understand why anyone on earth would consider that (paying for trending rank) a "bad" thing?!
What moral theory are you defending?
Please explain what you mean by "real promotion".
The bidbot method of "promotion" is a farce. "Real promotion" can be seen in the entertainment industry, everywhere you look. That's the correct business model to follow. The actual content lure eyes in and some of those eyes get distracted by ads.
You just said you'd buy a slot on the trending page daily. So what happens if people don't like what you're placing there? The same thing that happened in real life here, not so long ago. The consumer lost trust in the trending page, since much of the content was crap and all of it was paid programming. Those are incredibly valuable slots, or at least, they were designed to be beneficial to the content producer. Each time someone boosted crap to the top, their market got smaller and smaller and smaller. You're trying to tell me a consumer would want to watch a television channel that was all commercials and no entertainment.
Those promotions should be inside the actual content, not displacing it.
Also, this bogus bidbot model of "promotion" can't scale.
If this place was booming, there are only 20-40 top slots. If thousands of people all purchased votes at the same time, vying for the top slot, they would purchase about 3 seconds of time sitting in that top slot until the next sucker came along to purchase it. The "visibility" would be impossible to achieve.
As for these goofs purchasing smaller amounts and calling that "promotion". Who are they promoting to? There's no visibility there. That's just done for profit. Those doing it are attempting to use an exploit to purchase cheap steem. That diminishes buy pressure since they're using the reward pool rather than the market to gather steem they did not earn. Then it's sold, creating sell pressure. You'd think over 2 years of this behavior would be enough for you to see the damage but some folks are a little late to the party and don't really know what happened.
Plenty of money in real promotion. All systems must work together though, not against each other.
This is how a self-regulating free-market operates.
If people aren't hitting enough eyeballs, they'll shift strategies.
Also, I rarely find anything insightful and original on the trending page myself, but it does seem to generate views and upvotes, and the first rule of marketing/branding is "the more eyeballs the better".
People pay for the top slot on google, people pay to get views in all the facebook feeds, people pay for annoying banner ads on steemit.
Your upvote is just like a daily allowance. The people who invest in steem-power get a larger allowance and they "spend" it by upvoting.
It seems strange to me that people are running around downvoting because they don't like how people are spending their daily allowance.
Why can't people upvote themselves? What moral theory makes this act "evil"?
Why can't people pay for bid-bots? What makes the all-trending board "sacrosanct"?
You don't want people to "lose faith" in the all-trending board?
Promote content you like and encourage others to do the same. If you end up in a bidding war for the trending page top spots, that is as it should be.
Chasing away people willing to invest enough steem to get on the trending page will kill steem.
People do upvote themselves. I think people have a problem with self votes when all votes are self votes. Even that 50% of Bitcoinflood's voting makes my left eyelid twitch. I try to keep my self voting under 10%. There's no attention economy if all contributors only focus on themselves, and without the attention economy, there's no money to be earned on top of what your self vote is worth, and no money to be made in promotional services, since nobody is looking. Again, all of these systems must work together, not against each other. Every little piece of the puzzle must fit. It's like car engine and if one part fails, nothing works.
If you think keeping the old way is the best idea, start up a tribe and do it that way. Let's see how far you get. Allow anyone to just come and place total garbage on your own site and milk your reward pool.
Seriously. If you think you know something others don't, all the tools are there. It's cheap and you can show us all how it's done rather than talking the talk but not walking the walk.
I only have one suggestion.
Start a marketplace (Steemarket) for artists, writers, musicians, and videographers and coders.
If people will work for steem, then the steem economy will grow.
If the steem economy grows, the value of steem will climb.
A marketplace (Steemarket) will boost engagement and the userbase will grow.
Feel free to take this idea and claim it as your own.
Oh, right, and make the mute function reciprocal so you become invisible to the people you mute.
Or maybe we could just promote #steemarket and ask people to post their skills and want-ads!
Source
People do work for Steem.
What's needed is a strong consumer base ready and willing to embrace what we do differently around here.
I've written about this plenty of times.
The entertainment industry generates billions annually, right? People love to spend money on entertainment. They buy individual units likes books, magazines, albums, art. They purchase subscriptions. They donate to content producers.
Each time they spend that money, it's gone, forever. If one is donating, they might send that same content producer multiple donations. And each time, the money is gone, forever.
Consumers could spend that same amount here, tip forever, and get a return on that investment. It's like donating once, but donating forever.
The unrealized potential is in the consumer base. That's where the money is.
Sure, some folks come here and treat the place like a social media platform. Others treat it like a content production platform, similar to something like Youtube, but here we have a multimedia experience.
https://steemit.com/steem/@nonameslefttouse/curators-hello-where-the-hell-are-you
https://steemit.com/newsteem/@nonameslefttouse/the-business-of-blogging-and-how-to-take-over-the-world
https://steemit.com/newsteem/@nonameslefttouse/think-big-or-don-t-think-at-all-world-domination-stems-from-lessons-in-history
Please take a moment to look those over. I have more as well. The true unrealized potential, again, is the consumer base. One of those articles includes some simple math that shows what a measly 10000 consumers with a minimum investment would be able to pull off and the effect it has on demand for the tokens.
Then after all this and everything said here today, I see you're STILL going around and playing the goddamn victim card.
source
"Case Study" indeed.
Your true colors are shining so bright right now. You wanted a case study so I'll continue watching.
So just an update since posting this I got a number of more downvotes lol which I mean I figured. Talk about lame.
Get real. Two downvotes a little over 30 minutes after you posted this and nothing since then. It seems like you have issues being completely honest.
Your drama is lame. I get downvotes as well. Where's my big panicky 'I quit' post hmm?
The reason steem price is tanking is the bear market.
You can't blame the bear market. Steem is tanking relative to other cryptos and has been for some time. Now down to rank 85 on CMC.
Yeah, but those above 85 are mostly just crap that came along after Steem. New crap in a bear market often gets attention just for being new.
Agreed steems price has been tanking long before any of the other ones and has not recovered at all.
I am a tiny minnow, @bitcoinflood. And I received 2 pages of downvotes on an article where I shared my most precious gold coin. It nearly killed me... it certainly made me sick. I posted everyday since April 2018, and contributing a bit to the blockchain, in so doing mine steem in the best way I could, and provide others the opportunity for others who curate to do the same... that is, add value to the blockchain. I am so very disappointed, and was dishartened by the downvotes I received. Thank you for this article.