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General Discussion / Re: At least BTS outlasted NuShares
« on: June 12, 2016, 06:09:45 pm »[I'm watching the same wrong thinking play out in Steem. Paying for users by share-dropping and hoping your highly illiquid start-up DAC will absorb the cost, (A strategy that has failed a hundred times + in crypto) to compound their error they're share-dropping/awarding stable currency so the size of that burden in dollar terms they've paid to acquire users stays the same even as the share price craters.
I think the Steem experiment is trying to find out, if value in content-creation is enough to make the Steem social network valuable enough, that the general public will want to support and become part of steem.
This is why there is a delay until July 4th. We have to fill steem with good quality (and valuable) content, that makes it into Google's search results.
Unlike other places like Yahoo answers and About.com, which are full of ads and annoying to read, this is a completely different business model than can serve a similar benefit.
Personally, I think the July 4th launch date is very premature. We need an additional 6 months, maybe longer.
P.S. I know we're considering reddit as a lateral solution to steem. But some mention of facebook is there too. Without those stupid flash games that has everyone addicted, steem will never attract much of the facebook crowd ?