Well the way you write about it, it sounds like the price of Steem is doomed to fall into it reaches "one satoshi"
I remember watching an interview with Tone Vays with Jeff Berwick and I seem to remember him mentioning something about the 100% inflation rate but I did not quite get what he meant.
Put you put it very clear here. Steem as an alt coin is doomed is how I read this post.
"The problem is that there is no demand. So it doesn't matter if 1 billion people will use Steemit, the price won't be higher, in fact it will be close to 1 Satoshi, if 1 billion people were to use it, because they don't contribute economically"
Put you put it very clear here. Steem as an alt coin is doomed is how I read this post.
No it's not, I didn't said that. Steem is going down at the moment ,but that doesn't mean it won't have value later, once economic apps will be introduced.
Phase 1 is complete, we are getting many users.
Time for Phase 2,which is to integrate economic apps here, like P2P trading, and so on.
We need to make Steemit into an online multimedia/trading platform, for a global decentralized economy.
I was just saying that this is how the post came across to me.
OK well are you saying then that Phase 2 was part of the plan from the beginning or that it needs such a plan now?
I don't know if it was or not, but it's pretty clear to me that a social media platform has many other use cases besides chatting and blogging. So we need to utilize those too.
Even facebook added their crappy credit system into it. So every platform that deals with a human audience, will eventually have a currency for it.
The question is how do we add value to that currency, and the answer is, through trading.
Why? There are already people working on this. We just need a solution faster.
Well the way you write about it, it sounds like the price of Steem is doomed to fall into it reaches "one satoshi"
I remember watching an interview with Tone Vays with Jeff Berwick and I seem to remember him mentioning something about the 100% inflation rate but I did not quite get what he meant.
Put you put it very clear here. Steem as an alt coin is doomed is how I read this post.
"The problem is that there is no demand. So it doesn't matter if 1 billion people will use Steemit, the price won't be higher, in fact it will be close to 1 Satoshi, if 1 billion people were to use it, because they don't contribute economically"
No it's not, I didn't said that. Steem is going down at the moment ,but that doesn't mean it won't have value later, once economic apps will be introduced.
Phase 1 is complete, we are getting many users.
Time for Phase 2,which is to integrate economic apps here, like P2P trading, and so on.
We need to make Steemit into an online multimedia/trading platform, for a global decentralized economy.
I was just saying that this is how the post came across to me.
OK well are you saying then that Phase 2 was part of the plan from the beginning or that it needs such a plan now?
I don't know if it was or not, but it's pretty clear to me that a social media platform has many other use cases besides chatting and blogging. So we need to utilize those too.
Even facebook added their crappy credit system into it. So every platform that deals with a human audience, will eventually have a currency for it.
The question is how do we add value to that currency, and the answer is, through trading.