Why are rewards being shown in Dollars and not in Steem?

9 days ago
67 in steem

I guess we all would like to see the Steem go as high as possible, but I am content that it lies about 15 cent, because that makes it a bit easier to recalculate as most of the Scandinavian Crowns lies at that level (the Danish Crown are the strongest at about 15 cent.)


Left a Danish one krone, and right a Norwegian one krone.

I have always thought that it was a bit misleading and also ethnocentric to recalculate crypto-currencies to dollars, a thing practices both here on Steemit, but also on the Alexandria.io project, and I read that Yours.com wanted to do the same thing. But to me a dollars means just as little as a Danish krone means to an American.

Why not simply let the currencies stand alone. 1 Steem = 1Steem, and then have a java-script re-calculator on the page - showing people the current price in a currency of their own choice. The calculation would happen on their own computer and not be a bother to the Steemit system.

I think that this system would also strengthen the sentiment that Steem is actually a currency that could and should be used as a means of payment and tipping.


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72
  ·  9 days ago

The value of having a stable currency is more than you think. Despite the fact that the tokens are not US dollars, the $ sign represents roughly an equivalent dollar value of them. This highlights Steem's killer feature, post rewards with real monetary value.

The $ reward on posts is a nice little subtle selling point of Steem's greatest strength towards growth. The UI isn't screaming "MONEY MONEY HERE NOW" but it's softly whispering it with that little post value with a $ sign in front.

Any changes to this should be considered with care. To erase the subtle but effective growth driving advertisement of Steem's strength might be a costly error. Think it over before making an appeal for it.

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67
  ·  9 days ago

I would not remove the reference to stable currencies, I would just make it possible to choose which stable currency was shown. To US americans the dollar seems a natural choice, but to the large part of the Steemit community that are from other countries dollars might not mean that much, or have completely different connotations.

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65
  ·  9 days ago

I agree with your point a lot. I think the default price should be show in just STEEM or even SBD, but if a user wants to display a different price type they should have the option.

59
  ·  9 days ago

I agree with you completely. This should definitely be changed!

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67
  ·  9 days ago

Cheers!

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72
  ·  9 days ago

Why?

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59
  ·  9 days ago

Because of:

  1. All the arguments mentioned in the post above by @katharsisdrill
  2. The fact that US-Dollars are not necessarily well known outside the US
  3. The fact that it would be quite nice to have a platform advertising its intrinsic value only
  4. The fact that the actual amount of Dollars you earn varies a lot as the current price of Steems varies as well.
67
  ·  9 days ago

Im agree with you 100%. I live in Europe and for me Dollars means also nothing. Why pegged to Dollars was a question that I personally asked Ned. Short answer, it is made for normal people who do not know anything about crypto-currencies but know what 1 dollar is. Personally I think it is better as they have done in Golos, you can choose between several currencies to see the value of your wallet. Btw following you now.

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67
  ·  9 days ago

Yes, I do understand the argument, but I think it underestimates people. Anybody who have travelled knows how to recalculate prices - and a smart tool on the web-page would be much better and more inviting to the international community. I followed you back :)

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67
  ·  9 days ago

This is how it is in Golos
Golos.jpg
I can imagine that it should not be difficult to implement in Steemit as well. Thanks for the follow back :)

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65
  ·  9 days ago

Yes, I like the Golos option as well.

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67
  ·  9 days ago

Yes, that's exactly what I was thinking of.

49
  ·  9 days ago

Thanks for the post @katharsisdrill. I think the showing of rewards in dollars is okay, because it will help newbies who don't know much about steem yet.

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67
  ·  9 days ago

It will help US citizens, but to the rest of us it is not really helpful. Steemit is envisioned and should be a international project. With my suggestion you will still be able to see the rewards worth in dollars if you like, but it would also be possible to see how much it was worth in rupies, kroner, yuan, yen and pounds.

There's also the problem with fluctuations in the Steem - Dollar prices. With Steem as the shown currency there would not be the same amount of changes to the reward price (but maybe in the recalculated price besides it.)

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49
  ·  9 days ago

I'm actually new in this community. I'm still learning how things work here. Thanks for your suggestions I hope they'll listen to you.

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67
  ·  9 days ago

Yes, I saw your profile and I follow you. I hope Steemit will be a good experience for you.

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49
  ·  9 days ago

Wow! Thanks so much for your best wishes. I really do appreciate it. Thanks for following me.

54
  ·  9 days ago

Your point is good but the thing is that steemit is tied to us dollar since 1sbd=1$.
So the whole economy of steemit is based on $ value... Right or wrong, this is it...Wrong for independence, right for easier to became mainstream..

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67
  ·  9 days ago

Yes, but I am talking about Steem which is the root currency. To me steem-dollars are more like an interesting, but risky experiment connecting an alt-coin to a fiat currency. Steem is tied to Bitcoins like all other alt-coins, so being able to choose which currency should be shown would actually be better for international mainstream, and that is what this place aims for - at least as far as I understand it.

60
  ·  9 days ago

On Golos ( which is Steemit license ) there's possible to choose in which currency rewards will be calculated.
I guess that's something really easy to implement and we'll see this feature here soon

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67
  ·  9 days ago

Yes, exactly.

70
  ·  9 days ago

I like the dollars. I live in the UK but can easily relate to dollarity. Sometimes in Scotland we trade in hot beef dollars. So on several levels steemy dollars appeals

Long live the Dollah! :0)

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67
  ·  9 days ago

I am not having a beef with the dollar, not even a hot beef dollar... But I just have to check the exchange rate and do a bit of multiplication everytime I want to know how much it is in Danish Crowns. I think it would be a nice GUI improvement if it was calculated for you.

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70
  ·  9 days ago

Maybe they will do the golos thing and display in whichever currency you choose. I found myself adapting really quickly. It might be my sprightly mind ;0)

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67
  ·  9 days ago

Or the fact that £ = $ these days :)

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70
  ·  9 days ago

Hahaha, yes indeed, that does make it a lot simpler!