5 Steem is around minimum wage where I live. Not long ago I was giving away 5 Steem for good comments. What would you do for 5 Steem? What would you sell for 5 Steem? What is 5 Steem worth to you?
Great point, what this is about is geo-arbitrage:
earn money in one "place" spend it in a place with lower standard of living and get more bang for your buck.
For people in some regions this will have much more relative value.
Like you already see with Venezuela, the incentive to publish creative work is huge!
Do you realise how far 20 USD goes these days in Venezuela? That is a month of food!!! (btw please support those guys they really need it!)
Most of the developing countries that are connecting to Steemit.com are going to profit from geo-arbitrage.
Even small sums of money gained through Steemit.com will be worth it to put in significant effort!
The incentive for developing countries to connect to Steemit.com will be a lot higher than existing users of Facebook etc. My wife is from Venezuela; if you are educated and lucky enough to have a job, your salary probably does not cover grocery money for that month! So expect a lot of highly educated, motivated people to contribute and the few cents you can spare will make a world of difference for them!
Unfortunately, people in Venezuela are not unique, there are other similar situations, like the Middle Eastern refugees who all could immensely benefit from a functioning Steemit.com income even though it's only a few dollar a day!
For me, 5 Steem is worth a 30ml bottle of juice for my vaporizer. We charge about 15 USD at the store I work at, but really it's worth about 5 Steem. I'd gladly pay 5 Steem for one bottle if given the chance!
For us 5 Steem is a day of feeding for our animals
Great point, what this is about is geo-arbitrage:
earn money in one "place" spend it in a place with lower standard of living and get more bang for your buck.
For people in some regions this will have much more relative value.
The below is a reflection I had from my post here
Like you already see with Venezuela, the incentive to publish creative work is huge!
Do you realise how far 20 USD goes these days in Venezuela? That is a month of food!!! (btw please support those guys they really need it!)
Most of the developing countries that are connecting to Steemit.com are going to profit from geo-arbitrage.
Even small sums of money gained through Steemit.com will be worth it to put in significant effort!
The incentive for developing countries to connect to Steemit.com will be a lot higher than existing users of Facebook etc. My wife is from Venezuela; if you are educated and lucky enough to have a job, your salary probably does not cover grocery money for that month! So expect a lot of highly educated, motivated people to contribute and the few cents you can spare will make a world of difference for them!
Unfortunately, people in Venezuela are not unique, there are other similar situations, like the Middle Eastern refugees who all could immensely benefit from a functioning Steemit.com income even though it's only a few dollar a day!
For me, 5 Steem is worth a 30ml bottle of juice for my vaporizer. We charge about 15 USD at the store I work at, but really it's worth about 5 Steem. I'd gladly pay 5 Steem for one bottle if given the chance!
That's quite expensive!
5 Steem for me is a meal from McDonalds :P
I might follow someone for that, if I liked what they posted I would keep following them.
A lot i could become a millionaire
5 Steem to me is a chance to increase my influence on the platform by powering up :)
Here's what 5 steem can do for me in India:
-> 2 gallon of milk
Or
-> One large pizza
Or
-> one-time meal for at least 5 kids!
I can pay my internet bill
5 Steem is 5000 future dollars.