Steemit, Defying the laws of an ancient economy?
These days I've been asking myself a lot of questions regarding Steemit. The main one being " How is this possible?". And let me elaborate.
A new era of economy ?
We've been using our Fiat economy since the ages of kings. This old system has been untouched and unscaled for so many years.
Yet now I see a new contender that is gathering force to beat the living hell out of the fiat system.
The more you have, the more you give, the more you give, the more you get, hence the more you have.
This is the steemit code. How is this shit even legal? Absolutely no idea but I'm loving it every second of it.
Yeah I know, its a bit more complex than that, but still.
This is a representation of the platform within a small gif.
Surely things will get even better here but that opens up more questions. We are looking at a price of steem trending at 6$ atm. And as you can see things are ballistic. Some people are racking up so much money they can start thinking of buying a small island.
They don't rly cost that much honestly.
But the point is !
Im all fine with the aforementioned, I think the old fiat system is way past its time and there is a need for change.
But the question is, how long will we be in still waters until the cowboys of wall street get pissed ?
Some people might not think about it due to living in a large country. But where I come from at this rate making 5SBD a day gives me the opportunity to get a better wage than any high paying Job. FOR 6 DAYS !
This would mean that with time, the banks here will have a nightmare. They weren't designed and don't have the power to run on European standards. Oh right, we were a part of the EU >.<, How would I not know that. But yeah you get my drift.
And I'm not saying the above mentioned to brag about earnings, there are people that make more on a single post than me in 6 months.
I'm saying this because things are getting ballistic and sooner or later people will start to notice something raping the living hell out of the ancient fiat system.
Today I went to a personal accountant and asked her to help me sort out paying tax for my withdrawal, she manages 4 firms. I told her where the money came from and how I earned it.
She refused to help me because she didn't know what to do.
Always welcome on my private island @Vangelov :-). Will be tax free as well, don't worry about your Steem taxes :-)
Send me the coordinates i'm inflating the paddle boat.
And where would that be?
In Takatukaland?
They better get up to speed! Great post, good luck finding a qualified CPA. Maybe the Steemit community should put a call out for some to join, and help us all out.
Yeah a steem orientated tax service would be a wonderful idea.
There is a great need for it.
Bitcoin is awesome! It's a new one in the modern world.
You know, I've been thinking the same thing. I am currently thinking of a way to deal with taxes and I am positive that I would find a solution.
There is a question about if steemit is sustainable. But as long as there are people willing to buy your steem off your hands and give you fiat, than it's fine. There are constantly new people coming onto the platform and some buy steem to power up. Those are the ones that are allowing you to take out a profit. Since it's an inflationary coin, when the whole world has become part of the platform, the value might start falling. The trick is, in order for you to be able to give and earn from your steem, you need to have it locked out of circulation as steem power.