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RE: Our Plan for Onboarding the Masses
Interesting. Though, why would steem even be needed for that kind of model? They could just pay USD.
Interesting. Though, why would steem even be needed for that kind of model? They could just pay USD.
Its not needed in current model either - hence the token value is going slowly towards 0.
Perhaps Google ads could be replaced by Steemit ads where ad campaigns are paid in STEEM.
It's needed in the sense they needed a currency to pay people for their interactions, which is why the reward pool was born. However, with your ideas, no reward pool, no reason for a coin? Just pay people a portion of the ad revenue generated in USD. I think your model is interesting but I do think with some tweaks steem could be usable as well.
Why does bitcoin, ether, ltc, and just about every other coin have value? There is no fundamental value there either... which is why I don't think your comment about steem going to 0 because it is not needed is accurate.
If you use a SQL database like Twitter/Medium/Reddit etc. there is no need for a blockchain or token or interaction fees. Having a blockchain is not a value add - to the contrary - its an expense, and as such it needs a real use case to be justified.
With USD its not viable to pay the long tail of content creation - you can't really wire someone $3. Its also a hassle to add support for new countries. And with FIAT payments you need to follow certain regulations and KYC requirements.
Ah yes the KYC and AML are a big deal for USD usage, though it sounds like it may not be long before platforms with cryptocurrencies must follow that as well...
That didn't go so well for JSEcoin...