Hi ackza.
"steem is smarter than you think" That might very well be. I believe I have only skimmed the surface on how the system really comes together. And I'm happy to learn more in time.
I would appreciate if you did not bring me into this group you lable " you guys". I have not bias against STEEM nor any cryptos for that matter.
Perhaps my one world "Agreed" was somewhat simplistic, indicating that I subdued to any statement the previouse poster made. I do not.
My only message is: STEEM like any other crypto or FIAT currency have no value other that the trust put into them by groups of people. Handing them out for free, like we do today, only works because peoples trust that he value of STEEM in the future will be greater than the current deflation. Therefore prices continues to rise, and then again verifying peoples trust, again encurraging more to join the party - pushing the prices further up. And this is fine in a distribution process, which is what Steemit is.
I never said that STEEM, the currency, had to eventually fail. I believe it has to be phased over to every day trade of though.
I aslo don't think we should fool ourselves to think that we are creating some blogs, therefore its not free handouts, but making it an sustainable economy. The fact is, non of us is paying anything. Some are buying their way higher in the que, but noone is paying for any of the content. It's all handed out by a 3rd party - the script.
If all STEEM, SP & SBD rewards was removed tomorrow, how many do you think would spend of their own funds to pay for travel blogs, recipies, tech tips, poems, pictures of someones dog,...? Very few, and very little, I recon. We are not used ot pay for such, we would have gone elsewhere for that, like before.
The big content providers, going on full-time here would also be forced to move along. I don't think I have to continue.
In this world everything that have ever mattered, as far as materialism goes, is differences in between humans. Wheather one man has something the other wants. The script has nothing we want. We humans have only agreed that the script will help "shuffle the cards" distribute them among us.
If you are trying to convince me that he script is generating any other value then that, and keeping track of transactions, I would be very interested. If it somehow is gonna funnel back some of the funds though transaction fees to the Steemit community to keep it alive to verify transactions I'm all ears. As mentioned I must admit I don not fully understand how that part is handled with STEEM yet. Regardless, this must be a limited amount of STEEM, and cannot drive the value of STEEM very far up. That increase must come from the real world. Somone willing to trade it for a fish, some corn, or a Aston Martin Vanquish AM29 v12.
For the detailed specifications of STEEM I will gladly yield, I've known the name for little over a week, and I can only appologize for not educating myself fully on all aspects of the subject before replying. Then again I wouldn't have contributed much to keeping Steemit buzzing, would I? =)
However, to argue the fundamental prinsiples of trade, I do not need a Whitepaper.
Now I have to stop - before I blow my bandwith limit or something!