@revisesociology reposted
@penguinpablo's stats on Steem.
https://steempeak.com/post/@revisesociology/this-post-just-disappeared-so-here-it-as-again
This image is telling.
I've already noticed bid bot stackers at the top of Trending on Steem. It's truly a pitiful sight. Mediocre posts, usually on crypto, with $100 incoming in rewards and large upvotes from the largest bid bots on the platform. The bid bots are still acting as curation projects giving large votes for free. I have got those a few times in the last week. But it seems to me that an increasing number of users resorting to paying for votes to maximize curation rewards for self-upvoting and author rewards from attracting snipers will result in organic curation being squeezed out. That doesn't even require vote buying to have a direct positive return on investment.
The prevailing sentiment on Steem seems to be anti-downvote. I heard the largest community led anti-abuse projects such as @steemflagrewards have already closed on Steem, which means that all the leeches can now operate with impunity.
You may ask what the Koreans who wanted to extort giving up for downvoting from the majority of the community were thinking. I think they had bought a lot of STEEM when the price was high and were desperate to recoup their losses by milking the system. I have met such people before here. They used a lot of BTC to buy expensive STEEM in 2018 and when the price fell through the floor in November 2018 they got severely burned.
But becoming milkers does not help the token price. And if you already have a lot of tokens getting some more is not an effective way to recoup value. The price going up can result in much larger gains and community effort like on Hive can help a lot.
Those Koreans who voted for Sun's puppets are about to learn that the hard way. As the majority of the community is leaving for Hive, the use of Steem is falling fast. This does not bode well for the project in the long term as investors will not fail to take note of that.
However, I don't think Justin Sun wants to give up on the idea of having a social media platform in his empire. Steem might eventually get discontinued like Lino did and migrated over to the Tron blockchain. Steem and Tron smart contracts are written in different languages. Not too many developers know Solidity, which is the language in which smart contracts are written both on Ethereum and Tron. The vast majority of smart contracts written for Ethereum or Tron are a lot simpler than Steem. Finding developers who both understand the Steem codebase in depth and are well-versed in Solidity are in short supply. (There was no imminent risk of Steem being migrated to Tron any time soon in February but the statements of intent from Sun were alarming.) But Steem might be ported to Tron eventually.