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Does anyone on here remember that site? it was a Steemit clone. I heard about it around the time Steemit had that hard fork where hardly anyone could do anything on the site because they always got an error.
This is my theory on why I believe they failed. For instance, the Weku coin was only on one Exchange (Bitshares) the server for the coin was always closed for repairs.
The coin wasn't on any other exchange. I feel having it in a backup place would have been the right move.
People could have figured 'why am I here if there is no way to exchange my coins'
at some point, they stopped fixing the gateway for the weku coin on Bitshares
Hive coin and Steem are on more exchanges, so if one exchange goes down then folks have others to use in the meantime. In Weku's case, the coin was only on one exchange.
Then there was Golos, a Russian version of Steemit that closed down, I don't think I saw the Golos coin on any other exchange either.
Keep in mind some exchanges may not be available in certain countries.
So that can make folks feel limited. I felt the coin not being on more exchanged played a role. With BTS gateway constantly breaking. And at some point, it never went back up. People felt what's the point when we can't trade our earnings and left.