Shocked at Dlive’s bombshell!September 21, 2018
I got up this morning, checked my emails, looking for news about a mountain trip – and there was a bombshell.
Dlive is leaving the Steem blockchain!
I read the email several times, wondering if I was missing something. It said that Dlive would be migrating to the Lino blockchain testnet on Monday, September 24th. That’s just three days away!
A glance at the Dlive trending tag on Steemit confirmed the news – it wasn’t my sleep-addled brain playing tricks on me.
It’s not all bad news
I am writing this while still slightly in shock. And as I write, I start to realise that there are a couple of positives in this.
On the downside:
• The price of Steem has been low for some time now. One thing that gives me a lot of faith in Steemit over the long term is the incredible development taking place on the Steem blockchain. Therefore it’s unsettling to see a platform like Dlive leaving.
• Using Dlive has been a joy, and when problems have cropped up, the interaction with the Dlive team has been fantastic. Dtube was the trigger that got me actually posting on Steemit, yet I’ve never succeeded in actually uploading a video to it. Until I bought a new tablet computer, I was unable to even view videos on Dtube, or look at their front page, and even on my new tablet with the latest version of Google Chrome, I was still unable to post videos. So I was delighted to find that I was able to easily post videos on Dlive using my new tablet. I was even able to view those videos on my ageing computer.
On the upside:
I’ve recently built a WordPress blog for my Steemit posts, which in a way is a kind of “hedge” against what I see as a very unlikely prospect. There is always a possibility, however remote, that Steemit could go up in a puff of smoke. And if that happens, my WordPress blog means I will still have a record of everything I published on it.
I use the Steempress plugin to send my posts to Steemit. But when I post videos, I have to post them directly from Dlive. From now on, I will post my videos on Lino, or on another platform, and then embed them in my WordPress blog for posting to Steemit, just as some Steemians embed their YouTube videos in Steemit posts.
I can see why Dlive is doing this, though I’m sad that they appear to have lost faith in the Steemit model, or in some aspects of it. They are looking at the long-term growth of their platform, and with new competitors like BitTube and VIMM.TV springing up they need to ensure that their business model is solid and that they are able to reward their developers.
Dlive’s stated reasons for the move appear – in my view – to be short-sighted. In a post explaining their move, @wa7 says:
…we were not able to reward our content creators with the true value of their content.
…the current economic model of Steem incentivizes large Steem holders to continuously upvote their own content and other creators who specifically support their content. This creates an ecosystem where a content’s true value can’t be recognized or be fairly rewarded.
We believe that this problem, along with the current market conditions has led to a decreased consumption rate of live streams and videos on the platform and is one of the most important issues we are looking to resolve.
As someone who was interested in Bitcoin back in 2012, but who didn’t trust it enough to actually buy it, and who purchased 100 Ether in the crowdsale but then sold out shortly before the price exploded, I think this is a short-sighted view.
When a post I have spent a lot of time on earns less than $1, I think – that amount could easily be multiplied by 100 or more at any time within the next few years.
OK, so that’s speculation, but it’s based on my solid experience of cryptocurrencies over the past few years. The pump-and-dump schemes have evaporated into nothing, but when a truly innovative concept arrives, it just takes a bit of time for most people to cotton onto it – and when they do, it explodes.
So I don’t look at the “earnings” at the bottom of my Steemit or Dlive posts as their actual value in today’s terms. I see it as a longer-term investment, as early Bitcoins, or early Ether. Who cares how much the whales are earning? Good for them! They are the ones who saw the long-term value of Steemit early on, and stuck with it.
Try starting a YouTube account from scratch, or a conventional internet blog, and see how long it takes to make even a cent!
Having said that, I can see why Dlive feels the need to get itself onto a more financially sound footing where it can reward its hard-working team. I will be checking out Lino.
These are exciting times.