Craig, you're THE MAN!
We need a video on the topic of compound interest built into Steem Dollars. Would you like to help spread the word?
I blogged about it but it's in the whitepaper that there is an adjustable interest rate for holding Steem Dollars. This means when whales power down they never really have to power down into fiat. They would be smart to power down and buy Steem Dollars which can get them compound interest.
This means Steem Dollars are going to be more important to speculators than Steem itself.
https://steemit.com/poloniex/@godcomplex/remember-steem-dollars-provide-10-annual-interest
I disagree, steem dollars means nothing to me, and never will. It's designed to be a comfort zone for those who need USD. 10% interest is toilet paper money
How about you make a video on why you disagree? It's the first time I've heard someone say 10% interest is "toilet paper money".
ok, will try to make the video, but think about this. I earn 10% more steem daily just for holding steem power, so my 15,000 steem power earns me 150 new steem daily, and I can withdraw steem weekly and convert it to bitcoin, the price of bitcoin risies at about 10% each month.. and you want me to think about 10% annual interest for holding steem dollars worth $1 USD.. that's insane
This is true but it's a lot more complicated to explain to people who don't understand the mechanics of Steem. Like companies who might want to hold Steem Dollars instead of fiat but who don't understand anything other than 10% interest if they hold Steem Dollars.
A business cannot justify to shareholders holding anything which can be volatile so they should never hold Steem. On the other hand some might buy Steem Power or Steem Dollars depending on their plans.
I think it's a very bad Idea to invest other peoples money into cryptocurrency, it's best that the risk be taken by the individuals themselves, specially since crypto is unregulated
How else would a business advertise on Steemit without buying Steem Power? Beyond that there are risks, you're right. But then again people are buying Bitcoins with hedge funds.
Bitcoin has had 8 years to prove itself with a 10 billion dollar stable market cap, so hedge funds can buy bitcoin. Steemit has been around a few months, and is still in beta. No smart business person should be looking to advertise or invest in steemit until it's out of beta, right now the platform is suited for individuals like myself and you to have some fun with, that's all.