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RE: Let's talk about Steem

in #steem6 years ago

Interesting enough, i have been thinking about this today, and there is a main reason that high quality content creators are not attracted to Steemit:

There is no long term revenue for the content

If i were a high-quality content creator, and somehow ended up here on steemit, the first thing i noticed was that everything i create here will only earn me revenue for only 7 days.

So, why would i work my ass to create anything to this site, when i can post on YouTube/Spotify/My own blog/Medium and recieve revenue for this content for the rest of my life? (or as long as the said services were avaiable).

It just doesn´t make any sense for actual real content creators, since this means that your older work doesn´t bring you monetary value. The only one that keeps on "profiting" from your work is Steem itself.

Here is something that should be discussed:

Why not distribute the reward pool also to old content?

I will elaborate this idea better on a future post, but basically this could actually be an incentive for high quality content creators publish their content around here.

I think this is a fundamental problem, if the objective is to attract high quality content creators.

On the other hand, if the idea is for Steem to work as a Social Media platform (like reddit), then the system might be working just fine.

And about the Solutions to the voting problem, i don´t think it is a good idea to make 1 account = 1 vote in conjuntion with free account creation.

And whoever tries to game this system (e.g. by using multiple accounts), should be punished by the oracles and/or incentivised to rather use one account.

So, how would be possible to moderate millons of account being created everytime an account is shutdown? In my humble opinion, this will be the nail on the coffin.

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Unlimited time-frame reward is hard to implement in STEEM blockchain since every block/reward is produced in a timeframe (e.g. 3 seconds). Reward is calculated from yearly fixed inflation rate.

However, monetizing great contents with online Ads can be implemented with an SMT.

For example, a separate website/DApp for the contents will have embedded Ads according to popularity. Content creators may have to post content using the DApp to participating in the extra earning through SMT. The DApp owner can accumulate these Ad profits and share with the content creators according to contents popularity.
The number of visits can be converted to a number of SMTs for every week/month.

Moreover, extra earning from Ads will attract authors and can also be used buy back SMT's .

Though it looks like it is against STEEM's philosophy, but these alleged ever-green contents need to rewarded forever.

The bottom line is that a top content can earn forever with Ads, however, STEEM blockchain can't reward them beyond 7 days. An SMT with intelligent algorithm can solve some of the issues.

So, i don´t know about the technical possibility, but here is my idea on how things should work:

https://steemit.com/steemit/@phgnomo/why-steemit-is-not-attractive-to-quality-content-producers

But yeah, Ads could be a solution too.

Send liquid?

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I think your idea to make use of old contents is what we all want here but it seems quite impossible for it right now to be done. Well, Steemit is just very new and still struggling and facing new challenges. I'm sure the current system now will be changed so we'll just have to wait and see what will happen next while writing content here.

If i were a high-quality content creator, and somehow ended up here on steemit, the first thing i noticed was that everything i create here will only earn me revenue for only 7 days

That's because many high quality Content producers can do it everyday, all day long. I do nOT see a problem with this 7 day window. You can either produce the Content on a regular basis or not.

Some are just NOT cut out for this...plain and simple as that . And that's okay