RE: The Witness Voting Engagement Report - 2017-08-16
Wow! Again, Thank goodness we have you and people like you running this thing. Another highly insightful post of the under workings of steemit for this tech illiterate newbie. So correct me if I'm wrong but what you described in the post is.......good news? lol I still can't explain to my parents where the value of steem comes from, but that's all good. I decided to stay with steemit and I'm happy to be here. Thanks for helping maintain a platform where I can share my travel info, network with others from around the world, and earn money from it too.
Next time you find yourself in Siahnookville Cambodia I'll give you the low down on where to sleep, eat, and get 25 cent beers on the beach. Until then I don't have all that much to offer, other than a thank you for the education. Luke, you rock! and are appreciated! keep on keep'n on and so will I :) Having a plate of Pat Si-iew for you tonight from Koh Pha Ngan Thailand.
-Dan "World Travel Pro!"
Thanks Dan. :)
This is the key question! Where does any value come from? How does a pizza in May of 2010 sell for 10,000 bitcoins which today would be worth around $40M? Answer this question and you can start to realize the amazing emergent properties of the human species and how value is only determined in the moment of transaction. We could be experiencing massive deflation, but instead the FED keeps creating money out of nothing. Blockchain cryptocurrencies are just starting to recapture some of that value and put it back into the hands of ordinary people. It's an exciting time to be alive!
Yes it is an amazing time, and what a trip; "pizza in May of 2010 sell for 10,000 bitcoins which today would be worth around $40M" Incredible!
The way I've been explaining the value of steem and where it comes from, is similar to what you write. I've been saying that the value comes in people accepting that it has value. People using it, and transacting with it. Similar to how you say "value is determined in the moment in transaction"
Then I go on to explain the trading platforms Polynex and bittrex recognize it as having value and that's a big deal.
If they still don't get it I try to explain that it's like wompom and sea shells with the native Americans way back when. They accepted sea shells as a kind of currency, in this acceptance by the population, value is created.
So I guess I've been explaining it somewhat well. But still the confusion for many people I've spoken with is that they can't comprehend a financial instrument not in paper or coin and issued by a government. "Well I can't buy milk a the grocery with it...."
It's revolutionary! It's a trip. I basically understand it the way you explained it how I explain it. But it's still hard for me to even wrap my head around sometimes. Especially the blockchain side, and like the creation of a unit of steem. But thank goodness we are moving in a direction away from centralized, minupalated, corrupt, federal reserve and putting the value and power back into the people's hands.
I don't recall getting bailed out when I watched my Florida home lose 70% of it's value in 6 months, in 2008. I was stuck underwater for years. Meanwhile their handing out trillions to their banker buddies like it's candy.
It's a real trip for me to be apart of this cryptocurrency thing. I'm young, but old school. Ties into my semi-computer illiteracy and so on. But I'm learning fast thanks to you and others.
On a further note, I just published another World Travel Report: Aruba. My travel reports have done well. Hope this one takes off too. Great place to spend a week with the family, but it's not cheap :) Good touching base with you again Luke, you've been a real inspiration for me on here.
-Dan "World Travel Pro"