Steemit was a great idea. Creating a blockchain-based content-oriented platform just made sense two years ago. I have been creating content on this website steadily since that time. However, I feel it is time to cut-and-run. I am not happy about it. In fact, it makes me sad. I like the idea of Steemit. But the execution is severely lacking. Much of it has been thoroughly documented already. But I will add my observations to the pile.
The first issue is the interface. Steemit never built in a meaningful system for users to interact. You really can't consider this a "social media" platform as much as a content platform if you don't encourage interaction. Yes, there is a comments section. But it is clunky. People want to interact without their thoughts confined to a single post.
The biggest failure of Steemit is its failure to deliver the altruistic, utopian dream of decentralized power. Rather than being a democratized social network, Steemit has become a plutocracy. You can post shit content, but make 100.00 per post if a.) your score is 70 or above, b.) you have great wealth or c.) you were an early user of the platform. Generally, there is a convergence of all three.
There were democratized attempts to create power for the powerless on this website. Kudos to all the minnow projects and other groups that attempted to level the playing field. But it just is/was not enough. The plutocracy rules. Much of the value was milked out of the system by abusers and miners. Those who wanted to play fairly suffered for it, but kudos to those miners (witnesses) as well.
But in the end. Even with the advertising, this website sucks the life out of content creators. Some (myself included) create content because we enjoy it. But I am frankly sick of seeing garbage content sucking up the entire rewards pool. If that is what Steemit is, I don't want any part of it. Good luck to all the good people here. But I am powering down. I am tired of competing for rewards against the plutocracy. The big guys win. The small guys lose. I'm out.