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RE: A missing central point of failure
In my opinion steem seems really fragile and do you really think we might need businesses to really be built on it like Facebook for it to attain a level of stability?
Fragile, the blockchain? not really. The people on Steem perhaps :D
Businesses of various kinds have to come in to add value and provide increasing use case. Stability requires diversity in many forms.
Well it seems like we really need that breaking point by all means but I guess time will tell. Well thanks for that reply
Businesses include every application on Steem that looks to add value and the more they onboard users and create sinks of Steem/tokens, the greater the demand grows, while scarcity increases simultaneously. This pushes price upward which in turn creates a feedback loop for demand.
So exponentially applications that also add value can also be considered somewhat like a business built on steem? Sorry for the questions though just these technical parts are somewhat of a hastle.
A single account could be considered a business on steem in some forms, especially if they use their various ways to influence to develop the platform, not only extract.