Good video! The sad truth. We should redefine what 'money' is. Money in my opinion should be scarce. The fiat currencies we use as money can be printed out of thin air, so this shouldn't be called money at all. It's a scam that make the rich in this world richer and the poor poorer. Gold and Bitcoin are scarce. Gold has always been money in history, but is not easy to use as a way of payment. It's hard to divide in parts. Cryptocurrencies are a great opportunity to leave this fiat system before it falls apart.
It's time for plan ฿!
Doesn't steem ecosystem do the same as of now? "make rich richer and keep poor poor"? I am asking as a concept.
It's definitely true the whales (the rich) are earning a lot more money on Steemit than new users (the poor), but everyone can earn money by posting good content. It takes time and perseverance though.
Nice concept for a question :P
but in my opinion the so called ''whales'' are probably the first people that had the guts to buy crypto money and so where able to invest early and cheap in Steem.
The sad thing is 95% of the people just life their life like a movie that's already written. And Crypto and Steem is for the most of those 95% not on the movie jet. The people who take the risk and think out of the box are the once that making big money right now
Thank you for your answer. I agree with you, good content is great opportunity for everyone who is not a whale. In a long run though if whales paid attention more to good content instead of each other, this can be great place for everybody. I hope zero sum game won't consume them. By the way what would you be called in this system, because I don't see you as a whale or a minnow?
Not really, whales can give out at least 75% of their vote as an author reward, and get back an average of 12% (up to a max 25%) as curation rewards.
Currently there's certainly rampant inequality because the early investors either mined or invested at prices in the 10 to 20 cents range.
thanks. that makes sense
I came at historic low to steemit. In march it was 7cent for 1 steem!!!
@Dantheman adressed the problem of unfair distribution in his EOS concept.
here is the concept https://steemit.com/eos/@officialfuzzy/how-should-one-distribute-a-usd1-trillion-dollar-treasure
You know what the cool thing is. People that are scared of cryptocurrecy often say its totally worthless, its just a piece of code. And if you say this about the fiat money they use they might as well don't understand it or getting angry if they understand it but don't wanna listen XD
There's of course the whole money vs currency debate, and while I agree it's one worth discussing, it's ultimately a matter of semantics. I'd say digital gold is a pretty accurate assessment of Bitcoin. It's not very easily transferable either right now :)
As flawed as it is, I don't think fiat system is falling apart any time soon. There are a lot of reasons that it has been so sustainable, and I wished Dagogo explored that perspective too. So, we can't wait for it to fail. We'll have to make an active effort to move to a better solution - whether it be cryptocurrencies or whatever.