Show Me THE MONEY - a mini-VOTU discussion Topic
VOTU PODCAST IDEA
@beanz, normal host of VOTU (Voices of the Underground) Podcast, is not feeling well today. So I am looking at maybe doing a small Podcast/live show in its place(probably in her VOTU Discord channel HERE ).
With discussion of the bot and upvote bot topics going around, a common concern is for investors. What role do investors play in the STEEM ecosystem?
Well, my topic idea is partially tabling the bigger issue, but addressing the "third world user" issue. It goes like this:
- Since STEEM is an inflationary crypto currency, HODLERS are very important to its success.
- Investors are a key component of every cryptocurrency, because, "if no one is buying, no one can sell either."
- First World Users are usually fine with being at least mid term hodlers, BUT
- what about 2nd and 3rd world users(TWUs) that see STEEM and STEEMIT as their livelihood or at least, a significant source of their income?
- these users are constantly powering down and withdrawing their "earnings" in order to buy food, electricity, pay hospital bills, etc.
- as more 3rd world users(TWUs) come onto Steemit will this create a STEEM flood that will devalue the currency for everyone?
- what is the healthiest, and humane way to approach this group of Steemians that are primarily 'takers'?
- what am I missing? Am I looking at this all wrong?
Personally, I believe these users do play an important roll in our Steemit ecosystem. I don't at all want to be an elitist and try to say we should limit or prevent anyone from becoming Steemians. But I also know that a system is not sustainable if the outputs are greater than the inputs.
Are these TWUs the future of Steemit as they are introduced to blockchain technology? Will they be the innovators of the future? Are are they destined to be life long dependees, like the 3rd and 4th generation welfare recipients in the United States? A kind of convoluted servitude that puts them in constant dependance on someone else's generosity?
Please feel free to begin the conversation in the comments section below!! I hope we are successful in carrying on the conversation in discord today (12/10/17) at 3:00PM EST unless otherwise changed....
Peace
Images from Pixabay. With my adaptations.
The discussion went very well!
I think the 'nugget' that shone out for me is the idea of working with the talents of the TWUs.
They need not be just takers. If we can find micro-jobs for them, then the ecosystem will grow to be more cyclical and sustainable!!
And really that means, for each of us to help our fellow man to find their own place within the Steemit ecosystem.
Thank you to everyone that joined the discussion and for everyone listening in, it was a very good experience!!
Peace
I think these third world countries are a great place for steem to grow. Yes, they may need to have the money so much that they do a lot of taking, but also consider how much more this money is worth to them. While I could withdraw $30 worth, due to the economy these people come from when they take out the same amount they could be getting the equivalent of $300 - relative to what they can spend it on.
So even though they need the money more and so they're more likely to withdraw, there is a balance there because of the relative value of the dollar to them. I think steem can grow much faster in these countries and for this reason it brings value, because it will keep spreading across the world and regarless of how many third world people are taking money out, the network effect will push the value up.
Thank you for sharing that here. (Maybe you shared here, and then in the chat, but I am glad it is here too!!!)
Hope you are feeling better!
Third world users are far more likely to build entire micro-economies where steem dollars are used like a local currency. That lends a type of credibility to SD that investors ought to appreciate, I would think.
Sounds like a pretty weighty topic! I hope it goes well. Good luck!
It went well! Thanks!
There were 15-20 listening in, and a lively discussion between 4-5 of us!
Peace!
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Oh, to his horror