Steem Dollars - Initially I didn't understand why there were three different tokens, and I'm still on the fence, but it was ALOT easier explaining Steem to people when it was denominated in dollars. I think Steem Dollars are an awesome bridge currency for creating content.
I think price stable cryptocurrencies are necessary to get bigger masses to cryptoworld. Most people are too afraid of the risk that comes with bitcoin and other highly volatile currencies.
Steem is a unique combination of a social platform and a payment network. This creates great potential for huge network effect. We have:
- Lots of users.
- Lots of users making money. Subjective proof of work is brilliant innovation.
- Really easy and cheap way of transferring money to other users. Steem blockchain is fast (three second blocktimes) and free to use (no transaction costs).
So we are really building here a totally new economy. Not just a way of rewarding writers for good content. Read Steemit's Evil Plan for Cryptocurrency World Domination.
Just imagine what would happen if Facebook set up a bank and let their users to use it for free and without any restrictions. Everybody could send money to anybody in the world. Who wouldn't use it?