So while on Steem I have learned of many philosophical principles to do with Money sociology and finance. Three of these concepts in the order they were learned are Pareto Principle, metcalf's law and The Tipping Point. Funny enough, I learned about the Tipping Pointy from It's Always SUnny in Philidelpha where Mac explains how the Gang's Bar simply did enough small little things to "tip" and reach a new level of popularity like an ice berg finally tipping over a la Club penguin.
The first fo these concepts relevant to Cryptocurrency and especially steem is the Pareto principle or the idea that only a small portion of pea pods do most of the work for the whole farm- or that only a few steemians contribute to its development, content and growing price while the rest are just not as productive....
Pareto principle: The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes.[
https://en.wikipedia.org/wiki/Pareto_principle
This is something the creator of Steem and EOS, @dan Larimer loves to bring up, and for good reason as this Pareto principle rings true at almost every aspect of the blockchain world. Some may know this as the 1% rule in social media where only 1% of the population are the content creators making valuable content viewed by the 99% of the rest of the population.
Anyway the NEXT of these concepts is METCALF's Law or the idea that a communication network becomes mroe valuable expotnetially with the more users it gains. This might be some of the ideas and math behind the "Network Effect" we hear refrenced in the Bitcoin World so much.
Metacalf's law: Metcalfe's law states the effect of a telecommunications network is proportional to the square of the number of connected users of the system (n2). First formulated in this form by George Gilder in 1993,[1] and attributed to Robert Metcalfe in regard to Ethernet, Metcalfe's law was originally presented, c. 1980, not in terms of users, but rather of "compatible communicating devices" (for example, fax machines, telephones, etc.).[2] Only later with the globalization of the Internet did this law carry over to users and networks as its original intent was to describe Ethernet purchases and connections.[3] The law is also very much related to economics and business management, especially with competitive companies looking to merge with one another.
https://en.wikipedia.org/wiki/Metcalfe%27s_law
This is something that was introduced to Steem and myself back in late 2017 when steem was still under $1 and we were hearing arguments being made on trending that steem's value can be seen as proportional to the amount of users squared.
So for example if we went from 1 to 2 million, that 1 million more users the price should not just double the price but make it go up exponentially, so we would go from 80 cents to $8 instead of just 80 cents to $1.60.... funny enough by Jan 2018 steem peaked, even after Bitcoin had its peak and already came back down, and yet STEEM, separate from bitcoin, peaked over $ USD in January 2018...... and I believe the prediction about metacalfs law put steem around $2 and we made another prediction stretching it out to $6, and it happened! Here is the post by @jcornel that introduced most of the active steem community to this concept https://steemit.com/steem/@jrcornel/the-price-of-steem-should-currently-be-trading-at-usd2-22-and-here-s-why
And now the concept that will be reserved for this period in 2019 where Steem is becoming the accumulation of the sum of its parts, with the entire blockchain being greater than any one small piece of steem. The TIPPING Point is the next big concept for steem. Pareto was for 2016, Metacalf was for 2017, maybe we can decide what rule was for 2018, let me knwo what you think 2018 's lesson for steemians was... maybe something about a bear market correction?
Anyway the 2019 lesson for steem will be about THE TIPPING POINT.
"The Tipping Point" : "the moment of critical mass, the threshold, the boiling point".
Metcalfe's law characterizes many of the network effects of communication technologies and networks such as the Internet, social networking and the World Wide Web. Former Chairman of the U.S. Federal Communications Commission Reed Hundt said that this law gives the most understanding to the workings of the Internet.[4] Metcalfe's Law is related to the fact that the number of unique possible connections in a network of {\displaystyle n} n nodes can be expressed mathematically as the triangular number {\displaystyle n(n-1)/2} n(n-1)/2, which is asymptotically proportional to {\displaystyle n^{2}} n^{2}.
The law has often been illustrated using the example of fax machines: a single fax machine is useless, but the value of every fax machine increases with the total number of fax machines in the network, because the total number of people with whom each user may send and receive documents increases.[5] Likewise, in social networks, the greater number of users with the service, the more valuable the service becomes to the community.
https://en.wikipedia.org/wiki/The_Tipping_Point
Also related is the idea of "critical Mass"
https://en.wikipedia.org/wiki/Critical_mass_(sociodynamics)
In social dynamics, critical mass is a sufficient number of adopters of an innovation in a social system so that the rate of adoption becomes self-sustaining and creates further growth. The term is borrowed from nuclear physics and in that field it refers to the amount of a substance needed to sustain a chain reaction.
I hope you can all see the wealth of knowledge here, ready to be dissected, digested, re-presented in teh form of even MORE Blog posts but more IMPORTANTLY VIDEOS , videos made from either power point presentations of just these facts, animated or just someone going over the facts on a green screen, oh Im getting too excited justy THINKING about how someoen could create SO many videos all about these ideas and steem and Bitcoin.
https://en.wikipedia.org/wiki/Bandwagon_effect
The bandwagon effect is a phenomenon whereby the rate of uptake of beliefs, ideas, fads and trends increases the more that they have already been adopted by others.
https://en.wikipedia.org/wiki/Snowball_effect
https://en.wikipedia.org/wiki/Information_cascade
This is a fascinating concept relevant to steem in two ways, economic and social network
Market cascades
Information cascades have become one of the topics of behavioral economics, as they are often seen in financial markets where they can feed speculation and create cumulative and excessive price moves, either for the whole market (market bubble) or a specific asset, like a stock that becomes overly popular among investors.
Marketers also use the idea of cascades to attempt to get a buying cascade started for a new product. If they can induce an initial set of people to adopt the new product, then those who make purchasing decisions later on may also adopt the product even if it is no better than, or perhaps even worse than, competing products. This is most effective if these later consumers are able to observe the adoption decisions, but not how satisfied the early customers actually were with the choice. This is consistent with the idea that cascades arise naturally when people can see what others do but not what they know.[16]
Information cascades are usually considered by economists:
as products of rational expectations at their start,
as irrational herd behavior if they persist for too long, which signals that collective emotions come also into play to feed the cascade.
Social network analysis
Dotey et al.[17] state that information flows in the form of cascades on the social network. According to the authors, analysis of virality of information cascades on a social network may lead to many useful applications like determining the most influential individuals within a network. This information can be used for maximizing market effectiveness or influencing public opinion. Various structural and temporal features of a network affect cascade virality.
In contrast to work on information cascades in social networks, the Social Influence Model of belief spread argues that people have some notion of the private beliefs of those in their network.[18] The social influence model, then, relaxes the assumption of information cascades that people are acting only on observable actions taken by others. In addition, the social influence model focuses on embedding people within a social network, as opposed to a queue. Finally, the social influence model relaxes the assumption of the information cascade model that people will either complete an action or not by allowing for a continuous scale of the "strength" of an agents belief that an action should be completed.
My solution for speeding up the steem tipping point in price, is to encourage steemians to commission Youtube video compilations explaining all of the lesser known steem breakthroughs and dapp development + a video showing ALL of the good charity work steem has done and the semi charity work showing all of the working businesses that started from being incubated here on steem as users helping other users in an informal way + the formal crowdfunding from @fundition @fundition.io https://fundition.io
IF WE CAN GET ALL of these Steem Dapps features and services into ONE video, we can QUICKEN the Tipping Point by allowing the greater blockchain world to see all of Steem's accomplishments, BECAUSE WITHOUT promotion of the accomplishments, the world will ONLY assume we are a scam, pyramid ponzi scheme and no different than Bit-connect, and why should they trust us? We NEED to explain to teh world WHAT we are and HOW we work! Coinbase.com/earn is ONE beautiful way for this TIPPING Point to happen, but we NEED videos to explain how Steem works COMBINED with a Twitter telegram and REDDIT Tip Bots, and this TIPPING point will occur across multipel social media networks like reddit for example. Steem will find its tipping point by saturating crypotocurrency related communities on reddit and twitter using tip bots to send people money which they have to signup to steem to redeem!
No Pun intended with Tip Bots and the Tipping Point, but we CAN use this and help encourage the "Tipping" point of Steem with a Tip Bot or just manual Comments with CODES that peopel can redeem themselves using @inertia 's banjo bid bots using memos etc. @nathanmars and his 777 twitter steem giveaway promotion can be enhanced if I started to send comments with DMs with redemption codes to famous crypto Twitter and reddit users! We can call the promotion the "Tipping Point" where we give some free Steem to top Crypto Twitter users like Hodlnaut for example or CryptoKingofPop, we give them some Steem to either keep or tip to someone else on twitter/reddit and we simply give them a free instant steem account using https://steeminvite.com by @pharesim ALSO i know @booster by @fyrstikken has HUNDREDS of Free Instant accountys ready to buy and IM SURE he will give free accounts to people who use @booster https://booster.ink
I also showed this video about the New Zealand Indigenous Maoriu's defeat of the much larger British Force, as an inspirational story to @thejohalfiles and @fyrstikken over on https://SteemSpeak.com discord
Let us learn from Asymmetrical warfare and learn we cannot defeat Google Facebook Twitter Reddit in an open pitch battle, but must actually use digital cybernetic warfare, short of commiting cyber crimes, we MUST use legacy social media posts to PROMOTE steem! We cannot get peopel to STOP using Facebook/Twitter/Reddit but we CAN make use of Reddit posts to PROMOTE STEEM inside of reddit and "poach" users. Another crude example is to create bots to repost content in real time, showing off how much more a users content can make on steem...while skirting the laws of "Fair Use" by committing only the absolute minimum
I used @booster upvote bot + Steempeak.com with 98.5% of my rewards coming back as liquid steem in 7 days, no waiting for SP power downs, thanks to a 100% benefactor reward set to @likwid reward liquifier by @transisto and friends
More info about @booster + @likwid here https://steemit.com/booster/@ackza/use-booster-likwid-to-get-97-5-of-your-liquid-steem-rewards-after-curation-instead-of-waiting-3-5-months-for-your-steempower
Let's not end up like this helicopter pilot, flying such a powerful vehicle with a powerful engine but the users feel like were spinning out of control (price wise) so let's create the Steem Faucet using https://steeminvite.com and get a new UI for on boarding normies into crypto @ned JUST like you promised! :D I am excited to see Ned's new conference where he will show off a Steem Venture Capital Incubator and the new Coinbase Earn + Ledger Nano Steem integration bounty for $10,000!
I agree, we have to use other platforms to promote Stemmit. My last 5 YT videos mention #steem #steemit or #steemsilvergold.
And it seems like 20% of my post net 80% of my blog's value, Paretos Law applies.
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I saved this post on Partiko, great ideas on this post. I need to read it again that I might inspire me!
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This post has received a 20.00% complementary upvote from @swiftcash 🤑
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I like this post, good work, I do think it can happen...
You forgot to mention LASSECASH ;)
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I will if you please remove all teh flags you made on my blog, come on man, i have always been so nice to you, did you really need to take away the little money i do get paid still? please man, ill remove whatever comment that offended you please dont flags my posts when i thought we were friends man come on....
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This post earned a total payout of 4.096$ and 3.080$ worth of author reward which was liquified using @likwid. To learn more.
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I apologize that a spam bot has singled youu out for simply making comments, as if you were soime sort of sutomated comment maker... you clearlytjust have limited english skills, and yet steem whales piunish you for this,
this is why steem will never ever grow and wwhy palnet and weedcash are also doomed because teh same people exist on all platforms, plus the same assholes can just use the steem they got too easily and just buy PAL etc, so you cant stop the asshoel asew just have to outnumber them by allowing users to join
but why woudl whales on steem wanna allow mroe peopel to come ina nd take their reward poo away? Never,ind tehfact that the pool shjoudl goup with price of steemgoingup, nbo the whales cant think 2 months in advanced
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