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RE: Why I Am A Fan Of Steemit Inc Powering Down
The one negative of this is the removal of delegations from a few good apps. This will put more power into the hands of bidbot operators, which is a negative. But the apps will have to create business models that bring in fiat revenue streams. That is key to the success of the whole ecosystem. The ecosystem is simply too small to form a self-sustained economy of any kind.
Both don’t have to be mutually exclusive. There’s still a lot of dApps operating with delegation and that could continue despite powerdown. It would be against their own benefit to also power down that because then the feared token crash would happen due to the crashing economy for creators.
Important to keep in mind is that TM operates from the perspective that they are obliged to their STEEM and themselves. Maybe I should even reverse the order there. So they will not just dump it and even if they would want to move out, it would take months, years even before they’ve sold everything in order not to end up with only few bucks. And empowering dApps helps the token value so benefits themselves too.
The irony is that the bidbot operators are self-sustainable businesses on the Steemit blockchain, whereas these dApps, which bring a lot of value to the community, were 100% dependent on Steem Inc's delegations.
Yes.
The blockchain is good for creating credible digital scarcity coupled with actual ownership of digital assets. That's something people seem to be willing to pay fiat for. Steem also has three second money transfers that are free of charge. That's two strong points any Steem app can capitalize on in an effort to provide value that users may be willing to part with their fiat for.