I don't necessarily enjoy being the one to spread fear and doubt around our community but, to be honest, it's not really my intention to really do so. That being said I'm feeling a necessity to express some of the ideas that are going through my mind at the moment. Please know that my intention behind this post, is to simply start a conversation regarding this possibility and nothing more, I have no insider information and I don't consider myself an expert on the subject, just a curious observer that is comfortable asking the ugly questions.
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Its easy for me to imagine the "I told you so" crowd celebrating their own defeat. As illogical as that may sound, I think in this particular case it rings true. There are those who pounce at the opportunity to call Steem a ShitCoin, a Ponzi and any other negative adjective that tickles their pickle. Those who decided months ago to power down their SP and remain minnows would no doubt proclaim premonition like powers, as they laugh at the jerry's of the world.
The good news that we would not die if Steem goes to zero, as much as we might think we would. I've made enough mistakes in my life to know that after falling down, the floor is about as low as it gets. We would simply pickup whatever mental convictions remain intact and after something comparable to a mourning period would complete, start all over on a different platform or even a different endeavor all together.
Since Most of Steem's communities spend a lot of their time participating on discord, coordinating such migration would not be that complicated to be honest. As a matter of fact I'm aware of some communities currently considering the move, and as far as I can tell something as dramatic as an "end" is nowhere in sight.
As for the community leader's Stakes well, depending on their diversification efforts and risk management skills some would be wiped out and some would start over with something workable. This however is another aspect that in a way I find not that relevant because, if they found success before and grew to dolphins, whales or what have you. It was because of the value/assets they brought to the platform in the first place. It's not hard for me to imagine following @luzcypher and the #openmic to another platform if the worse scenario was to happen.
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It would not be hard or unexpected to imagine who it could be. Most of us who participate of this blockchain are well aware of EOS , Dan Larimer's most ambitious project to date. Dan has not hidden the fact that he is working on Steem 2.0 to those of us who participate of the EOS telegram group.
We are going to be OK, we are going to be upset, but I trust most of us will figure things out given some time. I for one don't find my experience on this platform to be beneficial strictly because of the money I've made with music and prose, but because of everything I have learned while participating of it. As cheesy as it may sound to some of us, knowledge is power and participating on a platform where effectively there is no censorship is quite priceless. (flags don't delete, no need to argue this point).
• Join me tonight on MSPWaves for Songwriter Shop Talk Featuring @breakoutthecrazy
• Sheeple phone call (hypothetical room microphone) - Simulated Stupidity Experiment
• disregard the gray hairs
• The Silver Lining - Ned and Bloomberg
• Helpie Meeting 5/7/2018 - Full Recording
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It would be shocking
No doubt about that, and for everyone who thinks it would probably mean their financial ruin, you might be forgetting to take into account that this blockchain today actually feeds people in countries like Venezuela. Those who would feel as if we lost everything while still sitting on a computer inside a home with air conditioner, would be guilty of being quite insensitive.Its easy for me to imagine the "I told you so" crowd celebrating their own defeat. As illogical as that may sound, I think in this particular case it rings true. There are those who pounce at the opportunity to call Steem a ShitCoin, a Ponzi and any other negative adjective that tickles their pickle. Those who decided months ago to power down their SP and remain minnows would no doubt proclaim premonition like powers, as they laugh at the jerry's of the world.
The good news that we would not die if Steem goes to zero, as much as we might think we would. I've made enough mistakes in my life to know that after falling down, the floor is about as low as it gets. We would simply pickup whatever mental convictions remain intact and after something comparable to a mourning period would complete, start all over on a different platform or even a different endeavor all together.
The leaders would migrate
And without a doubt some of us would follow. We might not think about the value of social currency to often, but this does not mean its not real or that we don't operate with subconscious understanding. A leader on this platform, a true leader that is, would not simply give up on this whole "cryptocurrency/freedom" idea because just because one token failed. Those who do, would be revealing their true self and I'm not saying that with the intent to hurl insults.Since Most of Steem's communities spend a lot of their time participating on discord, coordinating such migration would not be that complicated to be honest. As a matter of fact I'm aware of some communities currently considering the move, and as far as I can tell something as dramatic as an "end" is nowhere in sight.
As for the community leader's Stakes well, depending on their diversification efforts and risk management skills some would be wiped out and some would start over with something workable. This however is another aspect that in a way I find not that relevant because, if they found success before and grew to dolphins, whales or what have you. It was because of the value/assets they brought to the platform in the first place. It's not hard for me to imagine following @luzcypher and the #openmic to another platform if the worse scenario was to happen.
A strong competitor would take its place
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It would not be hard or unexpected to imagine who it could be. Most of us who participate of this blockchain are well aware of EOS , Dan Larimer's most ambitious project to date. Dan has not hidden the fact that he is working on Steem 2.0 to those of us who participate of the EOS telegram group.
Other projects are starting to be announced almost weekly with one very special one called ONO running as a DAPP on the EOS platform and being already promoted by some prominent leaders of the Steem Communities. I trust most readers of my blog are familiar with @stellabelle and the @slothicorn community. I found a great article written by her on hackernoon that is a must read in my opinion.
If this experiment fails
We are going to be OK, we are going to be upset, but I trust most of us will figure things out given some time. I for one don't find my experience on this platform to be beneficial strictly because of the money I've made with music and prose, but because of everything I have learned while participating of it. As cheesy as it may sound to some of us, knowledge is power and participating on a platform where effectively there is no censorship is quite priceless. (flags don't delete, no need to argue this point).
I'm making it a point to spend some time learning more of the inner workings of this technology, both with the intention to contribute with something more than words to its improvement and for personal growth. This journey has mainly been about that, at least for me, but I'm sure I'm not alone on that reflection.
I'm saying this and thinking again what would happen to me if Steem fails... I don't know, but I'm sure to be around, I won't go too far, I promise.
Other posts by yours truly
• Join me tonight on MSPWaves for Songwriter Shop Talk Featuring @breakoutthecrazy
• Sheeple phone call (hypothetical room microphone) - Simulated Stupidity Experiment
• disregard the gray hairs
• The Silver Lining - Ned and Bloomberg
• Helpie Meeting 5/7/2018 - Full Recording