Yes I was just thinking @lucygarrod, that STEEM is not for people who need it, but for those who want it....at least in the Western countries.
I interact a bit with people in the third world nations and they fully embrace not only STEEM, but Manna which I link at the end of all my posts, and a few others ideas I tossed out to them. They are willing to take advantage of any opportunity presented to them since they are in such a poor state. In the Western cultures, poor here is a major step up compared to third world situations.
It is interesting how that works....just an observation but one that is being drilled home the more people I talk to about crypto.
So true! Also, may be it is just that the majority of people just wait for a certain tipping point before they jump on board.
There is a lot of truth to that @lucygarrod.
Few want to the be early adopters. Most are crowd followers.
Many who are exposed to this now will end up joining. I believe everyone will be using crypto at some point...whether they get involved now or down the road, that is the only choice. Those who decide to get in now will be much further along than those later.
As for Steemit, it is only going to be harder to power up down the road since the price of STEEM will most likely be heading higher. Hence it will take more fiat to get the same amount of SP. Buying STEEM allowed me to get 1,000 SP for $850...now it costs about $6K....in a few months that might be $15K.
Emailed yr main post to a friend (a video film maker) who needs to join steemit, as it's the clearest fastest expo of the group and its potential for which I and many others thank you.
Warren B would cut to the chase and see two things: a pyramid with wealth and power accruing to a limited few at the top from a complex masterfully contrived and executed Ponzi scheme which generates its own wealth within its own activity as it produces nothing (to date) of any commercial value to sell to third parties.
That it directly benefits its contributors for now is without doubt. Steemit is literally keeping tens of thousands of members in developing countries from very hard times. For them alone (and many more who will join) it must not be allowed to fail.
Once currency speculators and traders move in the value will take off. If it gets pumped & dumped a lot of innocents will suffer. Mechanisms are in place to reduce wild market swings. But a serious economic downturn (many are already fearing is on the horizon) would draw scared money out as fast as it can be taken, and dampen future organic growth
If you had $1000 to invest in Steemit or Canadian potstocks you would buy into Steemit first. And find another grand somewhere later for the canuck hemp farmers