What is the Truth about the Subjective Value of Steemit posts?
What is the subjective value we are reaping from Steemit?
I think very few people are receiving payouts equal to their efforts in producing posts. The scenario I propose to test this is:
what would a person charge for their time and effort if someone hired them to produce a post without a/this platform existing?
Does that match the payout that is occurring?
I think for some that have heavy investment or accumulation payout somewhat does, but those are the exceptions more than the rule.
So what is going on here? The vast amount of users are below the threshold of return on what they are producing. Normally such a scheme would be abandoned. There is something else other than payout though. The value in sharing and exchange of information/ideas between users. This may make up the difference in payouts versus what people are producing. So the real subjective value would look like this:
Payout + subjective value of production/sharing of other users = Total subjective value
As you can see here the total subjective value is a combination.
Note this post isn't a hate post directed at those that have already accumulated, but attempts to answer why people would be producing at such low payout rates. I think it would be inaccurate to say the market value of a post is solely based on the payout.
People are producing at low payout rates because it’s better than no payouts :P I’m happy to make 50c from a post. Also yeah, community engagement and sharing ideas is valuable in itself!
Is true, somethings better than nothing.
absolutely, there is also some poeple thinking that steem will moon and they are making a lot of money for the future. While that is a nice thought it is not accurate. Instead of posting they might also work some job and then buy steem directly for better profits.
The real value of steem is being a decentralised censorship free p2p system, the rewards are just a little bonus
I think it works best as you describe it, but I am not completely sure the expectation of what a token-ish system should be.
the market is always right.
you claim to be a free market anarchist?
I'm shocked and dismayed that you propose controlling the market.
Hold on, let me get my 20 pound quarry hammer, so you can point out where that control is.
;)
the whole article implied control
because
STEEMIT ISN"T FAIR
'sob'
shouldn't something be
DONE?
I think it goes:
What Is To Be Done?
my answer would be
nothing.
'leave them alone, and they'll come home, wagging their tails behind them'
as my dad used to tell me when I got all exercised about the INJUSTICE of the world
(of which I had zero control)
The free market will figure it out.