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Despite The Bear Market, Steem Is Still A Content Creators' Paradise


6 months ago3 min read

No other platform in history has ever paid content creators as generously as Steem. I'm absolutely sure about that. Monetizing content online is all about the attention economy. The way content can capture value is through selling ad space alongside it or by selling subscriptions. The tokens paid out as rewards to content creators on Steem are valuable because of speculation at this stage, although renting out Resource Credits to gaming apps such as Splinterlands is an upcoming organic sink for STEEM. Ad space bought from Steemit, Inc helps support the price of STEEM by allowing Steemit, Inc to auto-sell less STEEM per month to cover its development and infrastructure costs.

Quora has 300 million monthly active users (a monthly active user is one who logs into the platfrom at least once a month). Here's how much the top five Quora Partners (users who ask questions on Quora, nothing is paid for answers) earn (source, data from Sep 4 2019):


The fifth best earning Quora Partner earned only about $1650 per month!

Imagine that! Quora has 300 MILLION monthly active users!

How many people were able to earn 1000 STEEM a month on Musing, the copy of Quora on the Steem blockchain, back in October 2018 when STEEM was worth a dollar? Maybe a couple of dozen. How many users did Musing have at that stage? Possibly a couple of thousand at best, most likely a few hundred.

How many does Steem as a whole have? According to @arcange's latest statistics from yesterday, Steem has about 30,000 monthly active users.

The best earning content creator on Steem is @gooddream and he has earned $670 worth of tokens in the last 30 days. (@themarkymark's is no longer up but I saw @gooddream at the top when it last worked and just checked his monthly earnings on SteemWorld.)

30 THOUSAND as opposed to 300 MILLION!

Quora has 10,000 times the monthly active users Steem has but what it pays its top authors is roughly the same.

You wanna complain about your Steem rewards? How much do you think you could earn anywhere else?

Now, THIS is what I'm talking about when I keep saying that content creators who are trying to earn by creating content online, who have been explained what Steem is and who still won't join are retards. To every Steemian who threatens to rage quit because of not earning enough, I put the question: How much do you think you could earn on centralized platforms?

That we find ourselves having to do marketing for Steem has led me to seriously question certain optimistic assumptions I've had about human nature. First of all, there is no such thing as rational maximization of self-interest. Or there is, but few people are capable of exercising it. Most people really are sheeple. They have the mentality of herd animals. They're useless out of their comfort zone outside the perceived protection of the herd.

I'm struggling to develop the right attitude to go about marketing Steem. But I'm trying hard. It should go viral without any effort. It's funded by hard core believers many of whom believe it must be developed because the censoring, shadow banning, demonetizing etc. etc, pervasive in the centralized shit world of content delivery.

The funding is actually pretty good. It's not really the investors (them, too) were are missing as much as more compelling user experiences across various apps, easier onboarding, better fiat on and off ramps and well-targeted marketing to the right people.


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