With Steem Dollar reaching $7.24 and Steem touching $2.22 one has cause to wonder if STEEM might follow Bitcoin in its incredible ascension to $14,188.40.
Whatever the reason and sustainability, one thing is clear : the innovation which is cryptocurrency is no joke.
The concept of a currency which is not based on a substance of universal persistent value, as gold was for millennia, has intrigued me since I became aware of the nature of FIAT currency. Particularly the extreme insecurity of a value based purely on the perception of Man and which could change with almost any global event, especially in our newfangled global society.
While a system based on the perception of a value for gold is insecure, current security is based purely on perceptions of the stability and prospects for economic health.
How firm a foundation ? is the question that comes to mind and the response must be : devoid of foundation.
Cryptocurrency, despite its reliance on this same perception of value, certainly has advantages over all previous currency though, with transactions occurring on the block-chain.
The block-chain providing
- An indelible record
- Absolute transparency
- Unrivaled security
- The elimination of exorbitant charges associated with the resource hungry banking systems and their profit hungry elite.
- Elimination of interaction between banking institutions in processing international transactions
- The prospect of zero inflation as the power to 'print' money is removed from the hands of the elite
This technology is currently in the hands of the people rather than governments and the people currently have the control which allows insulation against power and wealth mongering moguls. This situation is only valid though until those in positions of economic, governmental and military power decide to annex the concept and enforce governmental regulation or even ban the concept. We have already seen a number of countries flexing muscles in this regard.
The potential block-chain technology and cryptocurrency have to eliminate the control exercised by present banking systems over the people of Earth may well be the most significant development the world ever seen, with regard to the future of our planet.
The means by which money comes into existence is changing and it seems it may be driven by our enthusiasm for any particular concept as new currencies are created for new economic, creative and developmental concepts.
This may mean that as any new concept, which has the makings eliminating global warming, poverty or war, could be funded by the vote of the people as that vote may generate capital through the new means of money creation.
If a social media platform can generate value as Steemit has then what of concepts such as rewarding creativity in fields such as engineering, politics or most any other field.
Steemit is the first system with the potential to provide the people with the power to govern democratically with an immutable voting record, as voting power is built into the economics of the system and those most acceptable and contributory in their participation are afforded the greatest voting power.
Steemit generates Steem, facilitates cost free fund transferal, provides a democratic platform, rewards creative contribution, secures financial interest, provides an investment vehicle and protects the interests of the individual.
The concept Steemit has introduced is a new way of living. While it is clearly in its infancy, the potential is obvious and if used wisely, this concept may be truly significant to our future as it replaces traditional banking, political voting technology, social media, record keeping and a myriad of critical systems which are currently at risk by contrast.
Go Steemit.
Many information sources have influenced my views on these matters over time and I have not referenced any specific source in producing this article and therefore cannot credit any specific sources apart from WorldCoinIndex which provided the latest Steem and SBD highs.
Images from Google Images
Very nicely written. Blockchain era is gonna change all the things completely here.
A great piece and I believe you are correct. I wrote a post yesterday about STEEM being the solution to the universal basic income debate. We have a system in place where people can come and basically pay themselves. It takes a little while to get going and make some contacts, but anyone can profit. I believe the addition of communities will have a ton of impact since it will allow people to find information they like and, hence, people like them.
We are seeing a radical transformation before our eyes. It is wonderful to witness.
Wonderful price. Of course Steemit is a great opportunity to share high quality content. And we are all encouraged to avoid spam in order to make Steemit an interesting community and make its value grow further.
I do agree with your prediction. Steem will reach the sky in time to come. Steemians will land high above the no mans land.
Wonderful piece.. Carry on
Excellent , well thought out,Post!
How Firm a Foundation? , could be the title of a song?
Thank you. I must say, most everything you say spreads amusement. Such a beneficial talent you clearly got from your Dad and enhanced.
Thank You ,love the comparison!
I'm alwaya see you post sir and try to restmeeted your post,please check my profile sir..
social media & value content, fighting
Wow, this is such a wise and informative post that I have read. I am so glad to be part of this economical evolution. It changed so many things already and it creates better future for the world.
I truly believe in the Steemit community and i can say that it is the future of social media. Many real life problems can be solved by just upvoting a post, how amazing is that?
Glad to be part of an amazing platform having an amazing community
GO STEEMIT!
Well said and I am watching all this unfold in awe. When I used to play MMORPG's I saw the value of in-game gold as players purchased the gold with real cash to level up their toons. When I discovered bitcoin in 2013 I was instantly hooked and able to grasp the idea of a decentralized digital currency. I really enjoyed this article it gave me nothing but excitement especially when you mentioned the people having the control! I had a question regarding the rising value of SBD and why it is not staying at $1 but can't find a proper answer, or maybe I already have it. I wrote about it here if someone cares to read and elaborate as I am literally 9 days old on this platform and trying to learn quickly. Been searching for quite a while without really getting anywhere as there is a lot of content to search through. Thank you!
It will be very interesting to see Steem and SBD price performance once Smart Media Tokens and Steemit Communities come into full swing. Steemit already has a unique and strong value proposition and with the addition of the aforementioned elements, Steemit would positioning itself light years ahead of any possible competition and become the platform of choice. The added ability to generate decent money will be icing on the cake.
Good post with convincing arguments. Thanks.
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STOPNice piece of work
It may turn out to be difficult, but who says its not possible? The incredible growth of SBD is astonishing
Wery nice work carry on
future is bright....
just go on....
thank you......@awgibb for resteem..
Thanks for sharing helpful information brother
wonderful article, I really enjoyed it.
Thanks for the informative post. The Steemit system can indeed be used to democratise everyday life and reward individuals for their effort.