technically apple computer is a set of transistors, a little bit of plastic and aluminium, but this is not important. Concept of value comes from user's perception. If something is seen as valued $1, then it becomes $1.
How you call your dollars in bank account? "Bits, ones and zeros which represents my money" or just "my dollars"?
A computer is a combination of many vastly different things whereas a SBD is just a collection of steem. Calling a collection of steem "dollars" is erroneous and misleading to those who don't understand what they really are.
A computer is a combination of many vastly different things whereas a SBD is just a collection of steem.
SBD is not just a collection of STEEM, oh no.
SBD is a smart contract
SBD would not be possible without price feed
price feed would not be possible without witnesses
all of these would not be possible without a concept of blockchain, DPOS and many more
Calling a collection of steem "dollars" is erroneous and misleading to those who don't understand what they really are.
most money of the world are debt, but no one use this term. Dollar is already abstract concept (would you be able to explain what is a dollar to someone from stoneage?). SBD is the easiest way to understand on entire steemit. You do not need to know how engine works, to drive a car.
The other things you mention are not part of the SBD itself. They're auxiliary support components. The US Dollars we use today depend upon a vast array of supporting systems, people, and devices like the Federal Reserve, Treasury, Secret Service, bonds, banknote printers, etc. Auxillary support components like those are essential to the function of the Dollar but they are not part of dollars themselves.
technically apple computer is a set of transistors, a little bit of plastic and aluminium, but this is not important. Concept of value comes from user's perception. If something is seen as valued $1, then it becomes $1.
How you call your dollars in bank account? "Bits, ones and zeros which represents my money" or just "my dollars"?
A computer is a combination of many vastly different things whereas a SBD is just a collection of steem. Calling a collection of steem "dollars" is erroneous and misleading to those who don't understand what they really are.
answering here because of nesting limit:
SBD is not just a collection of STEEM, oh no.
most money of the world are debt, but no one use this term. Dollar is already abstract concept (would you be able to explain what is a dollar to someone from stoneage?). SBD is the easiest way to understand on entire steemit. You do not need to know how engine works, to drive a car.
The other things you mention are not part of the SBD itself. They're auxiliary support components. The US Dollars we use today depend upon a vast array of supporting systems, people, and devices like the Federal Reserve, Treasury, Secret Service, bonds, banknote printers, etc. Auxillary support components like those are essential to the function of the Dollar but they are not part of dollars themselves.