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I'm not abandoning it, but I'm also not keeping the majority of my funds on STEEM, when I can move them into other DPoS chains I am more excited about (most notably EOS, but others as well). I'll still post gameplays and occasionally write some posts, and I keep forgetting to submit an entry, but I also don't see much reason to put a lot of effort into content during a bear market... If anything, draft plenty to save for when it swings back. I don't lack faith in STEEM's capabilities, but not much in STINC, as they've both lost 70% of employees including key devs and also pivoted away from SMTs and UI improvements rather in pursuit for blockchain Infrastructure improvements, which is important but not solely important.

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2 votes

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fraenk (62) · 6 years ago

EOS... I've been meaning to look into it and get an account there for a while... I even have 1 eos in some exchange wallet :P

Honestly, I'm not sure what will happen to steem as we're facing a possibly very durable bear market. But I still think steem is one of the most "useful" blockchains... greed and a lot of fallacies in the economic model are kind of ruining it and might just kill it.

But I actually appreciate STINC pulling back... there are plenty alternative frontends and them being the face of the show has never been good for anything. Focusing on making the blockchain more economical to run (RPC backend DB etc) so that the network can be maintained by other entities without the insane hardware requirements is way more important than SMTs adding tons of complexity to the chain and thus operative costs just to fuel a pseudo ITO craze during a bear market that's going to drag everything down just like last year's ICO madness...

SMTs really only would have been good for one thing... pump and dump... a little short term hype... I doubt it would have seen too many legitimate uses... just like ETH contracts.

The one thing that worries me is the sustainability of the network, without transaction fees an no built in economic incentives to run full RPC nodes we'll face a serious challange as cryptos keep stumbling...

anyways... thanks for sharing your sentiment...

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1 vote

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jpederson96 (65) · 6 years ago

I'm full blown EOS Maximalist. That's why I ask myself do I want 1800 STEEM or about 500 EOS?
You have a good point on SMTs, but the issue is SMTs were STINCs marketing direction for two years. To abandon it would be like ETH abandoning sharding (which has also now been pushed beyond 2 years). I agree SMTs would likely PnD, we already see plenty of "pre-SMTs" popping up and some already exchanging tokens. Pivoting away from it would've been a good move 2 years ago, now it hurts STEEM either way.

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2 votes

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fraenk (62) · 6 years ago (edited)

Yeah, no doubt about the damage in terms of marketing... and sadly, marketing seems to be the key ingredient for success in this day and age.

I grow my own hopium here and believe this to be a "cleansing" time for steem's participants and players. I wouldn't be shocked to see the value drop much lower and I just pray someone will keep the network alive in the meantime.

I still find a lot of value in this community, even if it's not at all or hardly represented in the monetary games.

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upvotebank (73) · 6 years ago

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steem-plus (73) · 6 years ago

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