You are viewing a single comment's thread from:
RE: Could Steem Be The Gateway Drug To Mainstream Cryptocurrency Usage And The End of Central Banks and Government?
The best version of steemit allows steemit users to transfer steem dollars to/from their fiat bank account directly on steemit, or even a steem dollar debit card. Then there's no need for bitcoin, only as another option
I think the goal is to get rid of USD not bitcoin.
having to learn about or deal with bitcoin is a problem for steemit becoming mainstream, so users will need a steem dollar debit card so they don't have have to deal with bitcoin
Steem dollars are pegged to USD which is a dying currency. The short term stability of it is good for payment, however good luck storing your wealth in that.
@snowflake
As long as the interest rate is higher than the practical inflation rate for the USD, you are protected from USD inflation with the Steem Dollar.
Isn't that kind of the long term vision on Steem Backed Dollars?
I believe craig-grant idea sounds great - especially with the debit card. However, single option alternative may also mean putting all our eggs in one basket, and that may be dangerous since someone else controls the debit card operation and feeds into the traditional banking system that we would like to avoid. So we are going to be safer with multiple deviant options that aren't controlled by one source - the banking cartel. So I'm favorable with the debit card and other options as backups.
yes, bitcoin should always be an option, but not the only option, if bitcoin is the only option then steemit can't go mainstream