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RE: I interviewed Steemit's Andrew Levine, talked cryptos & Steemit
I think it would have been interesting to ask @andrarchy two additional questions:
(1) Does he foresee negotiations with American stock exchanges to create the ability to transfer Steem cryptocurrency for shares of a US corporation or derivative on the exchange, and vice versa?
(2) Does he foresee the emergence of private arbitrageurs who would buy and sell cryptocurrencies in such a way as to eliminate price differences across markets and foster the free trade of one cryptocurrency for any other cryptocurrency?
Thanks for the questions! Here are my answers:
(1) No, because it's unnecessary. Once Steem can be exchanged for USD on sites like Coinbase (maybe 1-2 years or less) converting your Steem to USD to shares will be easy enough to dissuade anyone from wasting their time developing complex systems to solve a non-existent problem. Of course, if there's enough demand for such a product/service, then sure, someone will offer a solution. I just don't think there will be. That being said, in 10-20 years our economies will look so different, and the different forms of money will be so liquid for one another, that the costs of implementing such a solution might become so low that even if the demand for such a product/service is low, it still might be enough to motivate an entrepreneur. But really in 10-20 years, anything is possible.
(2) There are already lots of people doing this already.