You are viewing a single comment's thread from:

RE: Diagram from my video "Steemit's REAL Diabolical Plan for World Domination"

in #diagram8 years ago

Well, it depends on how powerful your vote is. It is theoretically possible that at some point Steem will be so valuable and members of the community will have so much power that a vote from them would convey enough value to pay your mechanic. But for most it won't and so you will have to deliver value to him in some other way. It's a commercial transaction, you will have to negotiate a price. If your vote doesn't contain enough value then you will have to give him something else. You could write a blog post about him as a kind of advertisement or, of course, you could just give him currency. The voting mechanism will change the economic equation, but it won't eliminate it.

Yes, currencies are by definition intended to be used in day-to-day commercial transactions. Steem are the batteries that make the electric car function. They're not sexy, they don't really do anything on their own, but every body involved in the building, maintenance, and use of the car understands how valuable they are.

I'm not an expert in economics nor do I have an especially detailed understanding of the technical details of steem, but no I do not see any reason why it has to remain pegged to the dollar. In fact, pegs rarely last. It's a good idea for now, but I suspect eventually it will be allowed to float freely, albeit with some other price stabilization scheme to maintain it as a store of value. Who knows, I suppose if the price of Steem becomes stable enough, the SBD could be retired completely.

Sort:  

another well thought out text by a creative thinker.
He keeps my trivium mind humming along without
contradiction, and without a dog in the fight we can
get it.
Pegged to a corpse $ is a red flag. Better peg it to bitcoin!
Neither gold nor fiat is safe. Just look at the last century of cartel gold price suppression.
Mises was the best we had till January 2009. This date will eventually be genesis zero for
a new world calendar.
ATB Mowgly