Welcome to the twenty eighth day of the May 30 days writing challenge. If you don't know what this challenge is about, please have a look at the introductory post. Also, at the end of each article I will post the links to all the posts in the challenge (if you're joining the challenge, I encourage you to do the same). Also, if you join, don't forget to tag your post with #challenge30days and also leave a comment with the link of your post, so I can evaluate if you're one of the 3 lucky Steemians that will get a full upvote from me.
Given That Steemit Is Open Source, Would You Start A Steemit Clone? If Yes, Why? If Not, Why?
I asked myself this question many times, ever since the codebase of the Steem blockchain was open sourced. Which, by the way, happened quite some time after the platform was launched, not before, and with quite a few bumps.
The short answer is: No.
The long answer is a bit more complicated. I would have to split the main question in a few smaller questions to give you an idea. So here's how the "detailed" questions will look like, after the slicing:
- Do you have the technical skills to implement the Steem blockchain?
- Do you have the networking skills to put together the initial round of witnesses?
- Do you have the financial resources for marketing?
- Do you see yourself managing (even from a position of a founder) such a big business?
Let's take them one at a time.
1. Do you have the technical skills to implement the Steem blockchain?
Yes, I do. I run a witness node for more than a year and I wrote one of the most popular (if I would have to believe my followers) mashup on top of it, steem.supply. I'm also fluent in a few programming languages (I currently have a day job as a developer).
2. Do you have the networking skills to put together the initial round of witnesses?
Partially. I know I can put together at least 21 friends in the beginning and I can manage them for at least a year. But whenever big money come in, people start to behave unpredictably, so this task alone will soon explode in something very time and energy demanding.
3. Do you have the financial resources for marketing?
Nope. Given the actual size of the crypto market, and the actual size of the social media market, I think I will need a yearly budget of $5-$7 million (roughly half a million per month). I obviously don't have this amount of money and, given my recent personal experiences in working with partners / investors, I would stay away from this way of financing for a while (please don't ask why).
4. Do you see yourself managing (even from a position of a founder) such a big business?
That's probably the most important question of all, weighing more than 50%, in my opinion, and the answer is a very clear "No". I wouldn't take on such a huge task (which means I really know how hard things can go at times for @ned) because I've been there, I've done that. I have 18 years of entrepreneurship under my belt and I've been through long strings of years in which I grew up business from the ground up, hoping to sell them once they take off (which I partially succeeded at). But lately - meaning the last 2-3 years - I adopted what I think it's called a "life-work-balance". I don't consider money (or the associated power and, to some extent, freedom) to be the most important thing in the world. There are other things that I want to experience too and, surprisingly, I realized I can do that from a different, much less involved position. But that's just me.
So, I'm really curious: given that Steemit is open source, would you start a Steemit clone? Leave a link to your post in the comments so I can check it out.
Previous Posts In The Challenge
- May 30 Days Writing Challenge - Day Twenty Seven: How Many Comments You Upvote Each Day? Why?
- May 30 Days Writing Challenge - Day Twenty Six: What’s Your Favorite Tool / Blockchain Explorer for Steemit?
- May 30 Days Writing Challenge - Day Twenty Five: What’s Your Favorite Posting Platform for Steemit (busy, dTube, eSteem, etc)?
- May 30 Days Writing Challenge - Day Twenty Four: Name 3 Accounts You Follow On Steemit Because They Are Useful
- May 30 Days Writing Challenge - Day Twenty Three: How Many Comments Per Day Do You Post? Why?
- May 30 Days Writing Challenge - Day Twenty Second: What Is, In Your Opinion, A Worthy Post On Steemit? A Post That "Deserves" Its Payout...
- May 30 Days Writing Challenge - Day Twenty First: What’s The Worst Thing That Happened To You Because Of Steemit?
- May 30 Days Writing Challenge - Day Twenty: Who Was The First User You Followed On Steemit? Why?
- May 30 Days Writing Challenge - Day Nineteen: Name Top 3 All Time Favorite Movies
- May 30 Days Writing Challenge - Day Eighteen: IWhat Other Social Media Platforms Do You Still Use? Why?
- May 30 Days Writing Challenge - Day Seventeen: If There Will Be No Money Paid On Steemit, Would You Still Be Around?
- May 30 Days Writing Challenge - Day Sixteen: Where Do You See Yourself On Steemit In 5 years?
- May 30 Days Writing Challenge - Day Fifteen: How Many Posts Per Day Do You Write? Why?
- May 30 Days Writing Challenge - Day Fourteen: What’s Your Favorite Writing Topic? Why?
- May 30 Days Writing Challenge - Day Thirteen: Name Top 3 Favorite Cities That You Want To Live In. Why?
- May 30 Days Writing Challenge - Day Twelve: What Crypto Asset Will Dominate The Market In 5 Years?
- May 30 Days Writing Challenge - Day Eleven: What’s More Important For Steemit Right Now: Smart Media Tokens or Hivemind?
- May 30 Days Writing Challenge - Day Ten: What’s Your Favorite Morning Drink: Coffee, Tea, Water, Juice? Why?
- May 30 Days Writing Challenge - Day Nine: Where Do You See Steemit In 5 Years?
- May 30 Days Writing Challenge - Day Eight: What’s Your Most Consistent Hobby For The Last 5 Years?
- May 30 Days Writing Challenge - Day Seven: Name 3 Things That Must Be Done Immediately To Make Steemit.com A Better Experience
- May 30 Days Writing Challenge - Day Six: What Is Your Main Reason For Staying On Steemit?
- May 30 Days Writing Challenge - Day Five: What Are The Top 5 Crypto Assets You’re Investing In Now?
- May 30 Days Writing Challenge - Day Four: What Are The Top 5 Most Relevant Witnesses On Steemit? Why?
- May 30 Days Writing Challenge - Day Three: What’s The Best Thing That Happened To You Because Of Steemit?
- May 30 Days Writing Challenge - Day Two: If You Will Get 1000 STEEM Tomorrow, What Would You Do With It?
- May 30 Days Writing Challenge - Day One: How Did You Get On Steemit?
- Announcing May 30 Days Writing Challenge: Strengthening The Steemit Community
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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