That's not the intention. The idea is that any way I manage to make money, it should come back to equity holders in the end. It's trust based and not truly "backed" except by my material assets at time of death. I do of course hold cryptos, but I'm not about to make my crypto portfolio public. Obviously my Steem account already is.
If I can't make money or if I'm an untrustworthy person, the equity isn't worth much. If you can reasonably believe that I can accumulate wealth AND that I will buy/burn tokens OR I will die with positive net worth (excluding crypto) then the token will have non-zero value.
For that reason it would make much more sense for someone who knows me and can judge those things to invest in me than for someone who does not.
This type of system will likely develop as a platform in the coming decades. I wrote an article about it on a throwaway blog years ago, long before I heard the word Bitcoin.
But we're not there yet and it won't work on an individual level unless the individual knows a lot of people.
That's not the intention. The idea is that any way I manage to make money, it should come back to equity holders in the end. It's trust based and not truly "backed" except by my material assets at time of death. I do of course hold cryptos, but I'm not about to make my crypto portfolio public. Obviously my Steem account already is.
If I can't make money or if I'm an untrustworthy person, the equity isn't worth much. If you can reasonably believe that I can accumulate wealth AND that I will buy/burn tokens OR I will die with positive net worth (excluding crypto) then the token will have non-zero value.
For that reason it would make much more sense for someone who knows me and can judge those things to invest in me than for someone who does not.
This type of system will likely develop as a platform in the coming decades. I wrote an article about it on a throwaway blog years ago, long before I heard the word Bitcoin.
But we're not there yet and it won't work on an individual level unless the individual knows a lot of people.
Justin Bieber could do it though!