This video is interesting, although I'm not really sure if it's taking into account the very real investment of dollars into the platform. Also, basing a currency on the creation of real content is not really generating it from "thin air" I don't think. Also, with steem, the analogy to stock seems a bit forced. Perhaps I don't understand it that well, but when stock is reset, each shareholders holdings are adjusted, the number of shares don't just go back to zero. This is done to simplify the math, and prevent the stock from splintering into meaningless slivers. In this case, steem itself seems more like poker chips. They are exchanged for steem power and spending power in the outside world. So, the money being generated is not really represented by the steem itself, that is just a marker. Does that sound right?
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