RE: "LIKES" received on LeoFinance.io are Socially and Economically Viable

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Good article i specifically like the mention of the benefits of this in a post Covid era. Children are mostly being educated online. Social media and internet work has become more popular than ever. it's this expediated futuristic world.

I have thought about social media over the blockchain and unfortunately i have some great concerns that i feel your article doesn't take into consideration. I hope by pointing them out i can open your mind and readers minds to some things they should consider.

The first point that gets makes alot is that we get nothing for our blogs and contributions on mainstream social media. I would say that's incorrect and false. You get tremendous value on mainstream social media. The caveat is they use a different currency.

They use a social currency that can be converted to dollar value. For example if you're a business you have vastly more reach to sell products on your blogs either directly or indirectly. You also have social dynamics of connecting with long time friends and family members at a level that can only be achieved on a massive social network.

These are not small feats nor are they of no value. So i think we underestimate the value of these mainstream social media sites. Unfortunately the market does not and thus why so many remain on them. So how do we solve it and get it to blockchain social media

Well I think the solution is probably not one many will like. For example my research finds that these mainstream social media sites work on a freemium service model. So the mainstream social media trade off is getting venture capitalist or insitutional investors to front the bill. Our use of the vast network is upfront cost deferred. Meaning yes we have to pay for it but it's an easier pill to swallow.

Blockchain technology as it's decentralized and it's not a type of business that can be owned in a similar fashion. Requires upfront cost. You gotta pay electricity. You have to pay for engineering skills upfront.

If the cryptocurrency space could waive the upfront rewards i believe it could be successful. Some would argue that's just not how it works. However i can point you to an example of where that worked. Bitcoin, worked because in the beginning the engineering teams did all the work and remained dedicated based on the ideology of bitcoin not making money. As there was no money to be made at the time from the development etc., So you find even miners and people involved early days tell stories about how they made no money.

So i think decentralized social media .. The idea of being paid for likes can go forward possibly if that type of approach is set forth. The other problem with get paid for likes is that human psychology doesn't do well with inconsistency. So for example if you're doing something that pays you for likes. What is the metric to give value to a like.

Is it a similar metric to a similar post? Well if it's not then you could have an unfavorable reaction due to the market psychology. As to say competitive pricing models in traditional markets balance price control. So the like market for lack of a better word would be a inconsistent off system that pays people different prices for the same quality of content. I just dont think that works well for human psychology in markets.

So what's the answer. Freemium services. Who does that? Not very many if any at all. Is it the future? Yes i believe so.

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Well said. We are getting nearer to the future than where we were at the outset of STEEM in 2016. For instance, the LeoInfra feature is a super model that is trying to limit the bottlenecks to participation from Web 2.0 socialmedia like Twitter. Soon, we'll have Twitter users interact with us here seamlessly.

ALso, onboarding should be community centered on a blockchain like Hive. Yes, each community should come out with their model that makes it easier for their prospective users in their content niche to start-off a journey seamlessly. I hope we have community leaders that think in this direction.

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