You are thinking like an economist. Keep thinking! My goal is not to create FUD; I think that STEEM and steemit are brilliant. But selfishness ruins everything. Can selfishness be prevented from destroying these wonderful initiatives? I don't know.
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I don't have fear of disappointment. Just plain disappointment. ;)
Never have I been more of a cynic than after having access to and really examining this public ledger where the greed of people is on full display.
There are a few outstanding people left and, if it weren't for them, I'd probably be long gone.
I also thing Steem is brilliant but the creators may have been just a tad too optimistic about the intentions of the users to work together vs eat each other.
It is an interesting experiment, nevertheless.
Those who are ignorant of history are doomed to repeat it. When the domain name system was set up, the people involved naively thought that people would respect the top level categories, would not speculate by squatting on hundreds of domain names, and would surrender their domain names when they no longer needed them. It apparently didn't occur to them that a market would emerge and that good domain names would sell for thousands of USD. (GoDaddy says that mine is worth more than $10,000 USD.)
I see the same naivete with the design of STEEM and with steemit. I'm willing to "invest" time into using, gaining experience with, and studying steemit, but I'm not going to power up beyond, say, $100 USD. I'm willing to spend $100 USD and not worry about losing it all. But I'm not going to get in farther than that.