> Let's say there is enough daily "free" $1 upvote for all posters of Steemit, will it solve the issue of User retention?
Yes. It will definitely solve the issue of user retention.
But that is not sustainable. There are more than 1 million Steem accounts. If even 40% of those accounts use this feature, 400k will be depleted from the reward pool. At the time of writing this post, the reward pool had 820,775 STEEM ≈ $338,975.
So, it wouldn't even last a day. What you are proposing is never going to be implemented.
> Do you think a regular upvote will improve the user retention and keep the motivation among all authors / posters of Steemit?
No, I don't think so. Giving free money doesn't create demand for Steem or steemit. Steem has to offer something that makes people want to use it. That something should be high quality content.
Imagine this, if Steem had high quality content like the ones you read in Medium blogs, wouldn't you be interested in reading them?
If the content quality of Steem becomes excellent, people will be automatically incentivized to read them. More and more people will find out about Steem by searching it on the internet.
That is how you create demand for a blogging social network. Steem's main problem is that quality content creators aren't rewarded systematically. That's why people aren't getting 1$ worth upvotes on their posts.
Also, when people make a high quality blog and see that a spam post received 10x reward than their own, they feel discriminated. And that's when people generally leave this platform.
If daily 1 usd free upvote will be given to all posters in steemit, then the culture of steem community will be like an appeasement culture and it is not sustainable at all and you can not feed everyone like this everyday and further it is not going to add any value to this community.
Do you know that the best from of creativity and innovation comes from healthy competition and if that competition will become flat, then everyone will be lazy and there will not be that enthusiasm to breakthrough a new level of development in the community and it will also hinder the development of the community.
On the top that economically also this is not a viable option and it will encourage spamming in the entire community on a broad scale and it will also give a wrong message to the people outside the steem community and the reputation will be severely hit by this kind of appeasement.
If you think that you can retain user this way, then do you know at what cost....at the cost of the core principle of this community. Therefore quality content and consistent engagement should always remain at the core of the community so that it can attract the good authors, writers, content creator to this community who can really add value to this community.
Thank you and Have a great day.
In the short run, yes. In the long run, no
In the short run, a lot of users would be interested and would want to stay. Who doesn't like free money.
Plus, it would also encourage others to join the platform. At that point it would seem Steem is doing a daily airdrop of coins
In the long run, this would spell doom for the Steem Blockchain. First, people will only try to reach the minimum standard to get an upvote. This will reduce quality content
Secondly, it would reduce the demand for Steem (as it can be gotten for free). This will trigger a free fall in the price of steem
At the end, everyone that stayed for money would be gone (and the Steem Blockchain reputation in the cryptocurrency market would be greatly damaged)
As steemit currently is, reward is the only template for one to judge the acceptance of a post but the sad reality is that post's reward doesn't depict the true acceptance of a post because most people on steemit up vote a post for various reasons . Some of them don't even bother to go through the post or even open the post before up voting. Some posts get upvotes from community accounts, bid bots, cura tion trail with most of those people not bothering to see the content of the post. So in a way, high reward, doesn't translate to high acceptance of a post
Since steemit makes the reward to be the only motivating factor for creating a post, it will be very demoralizing to spend hours trying to create a post and get just few cents in this post. Some posts even get zero cents in this period of low steem price. Why should I bother to post, when the only means for me to judge the acceptance of my post is showing zero or just a few cent?
If bloggers can see the views their posts are generating, regardless of the reward or the low steem price, some will be very motivated to post because they know that they have viewers hoping to see such posts. The view counter will motivate more bloggers to post even if the post has no reward because there is an audience and they can see the acceptance of each post as reflected by the view counter. Even if everyone is given a $1 up vote on each post, it still won't motivate most people to post. The satisfaction of posting is in the acceptance of a post not just the reward alone and the current steemit framework don't give bloggers any template with which to judge the acceptance of their post
I think it would increase retention a bit, but at the sacrifice of quality, which would lead to the downfall of Steemit. Some people would be ore likely to stay and having a guaranteed upvote, but then for others $1 upvotes would be the new $0, and they would start to moan again about not getting noticed and leave.
The problem from the start with Steemit has been a lack of education (or learning from the wrong people), and expecting to earn $100s from the start just because some people post BS and bot it to the trending page!
To increase retention is going to take a few years I think as people start to learn the benefits of Steem fully and the potential behind all of the great dapps
Yes and No!
Yes it will likely encourage a user to stick with the platform for at least a week-to-a-month but soon enough that user will fall into the classic dump-and -go. He will just write something totally random > get his free $1 > log off out of Steem. We don't want those kind of people!
Right now, there are honestly many people who are doing that one especially with the current disappointing price of Steem.
Most of the people who are active on Steem and are still here stays for a reason: because they are enjoying and/or still have high hopes for Steem.
If we start handing out free $1 daily for the sake of user retention, genuine interactions will likely suffer as people will now have no reason to hustle because they know they are now at least guaranteed $1.
At the time of writing, PAL will give you free upvotes worth of $0.12 but still not all uses it. Now $1 might be enough for you but not for everyone. Let's say someone posted a watsapp message and got $1 and other one written a very nice post of like 500 words and he/she also got $1.
Why would the second person will write such a nice article because after spending so much time the money is same as that of the one who has just posted a forward message. If he would have created his/her own website and written a good article he might earn way more than $1.
If it's daily free USD 1 equivalent of Steem, yes, retention will increase.
If it's daily free 1 Steem, then maybe no, because inflation will be very high and Steem's value will drop sharply.
That would hardly be sustainable. The blockchain creates about 110,000 new STEEM every day. At the current price that's about $33,000 worth of STEEM to go around every day. There are about 10,000 accounts posting every day. If each of them got $1 for free every day, $10,000 worth of STEEM, or about a third would be distributed through the subsidy mechanism. The proportion of STEEM distributed as subsidies would rapidly increase as the number of posting accounts would go up, many of which would be alt accounts of users already being rewarded. Steem already has a problem with sufficiently rewarding for quality content. This would make it worse and cause confidence in the platform to erode, causing the price to decline further. The price going down and the number of accounts posting shit going up would make the proportion of STEEM inflation going to quality content producers to go even further down and fast.
In short, that's a terrible idea. It would lead to widespread abuse, quality content being drowned in a sea of shit, and most likely the price of STEEM to go even lower.