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RE: How the blockchain will change YouTube (and Facebook, etc.) forever

in #videos5 years ago

Steemit is a cool idea, however if people stop buying the tokens on the open market they will become worthless because of a lack of advertising on the platform. There are many pitfalls the steemit cheerleaders refuse to address.

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You're right but there is strength in numbers. Eventually I think Steemit will have a decent user base which will bring advertisers and investors.

Yes, those are good points and are very possible

You might want to sign up for @dustsweeper.

STEEM tokens apply to a lot more than Steemit.

That is what people confuse. The fact that bandwidth is priced in STEEM means that it is always in need.

Thanks I have much to learn

However, you must realize that this blogging or posting is compared in mining! This is a new type of mining by use of blogging.

Fair enough, we’ll see how things work out.

One thing to consider is that STEEM (in all forms) has inherent value within the network itself. STEEM Power dictates how much someone earns for their posts (and how much others earn when that person upvotes content). SBD can be used to "promote" posts within the network.

So, aside from market speculation, these two factors help the tokens retain value. Only time will tell whether that will indeed work, but it doesn't seem a whole lot different to me than the "money" of any other community, such as a country.

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