Introduction

A number of folk have been taking part in my experiment here. It inspired me to write about some interesting economics, which recently played out @sotura.

The experiment was about considering if your holiday photos might just be worth something, without having to work for it, or at least in the traditional sense, assuming you are not a professional photographer like me. Can I sell that cool sunset pic etc….

“Time is money” was a phrase used by Benjamin Franklin in advice to a young tradesman. Finally I think there is real measurable mathematical proof that time really is money, in the world of Steemit.

Proof

The highest bid on my photo here was SD 2.00 by @rossco99 (btw. thanks). I didn’t actually sell my photo for that amount. Actually, I sold the photo for: (payout + highest bid) = (118.31 + 2) = 120.31 SD. I actual got rewarded for my activities on Steemit and also for the bid amount of 2.00 SD.

Here is the real kicker! The bidder got a further 0.708 steem power for curation, not to mention the 3.28 SD the bidder got for the bid post, and also any steem power that went to the seller.

There are clearly a number of interesting moving parts here that still need to be qualified, for now though the basic premise is an exchange of value occurred, even if it was sometimes difficult to track and somewhat unusual.

Conclusion

The entire post, and every interaction, squeezed every last penny out of this sale. Value was extracted at every point, thereby truly qualifying the sales process end to end. I’m sure there are more interactions that can be measured, for example the carbon cost of this post. For now however, I feel this is a real step forward in terms of “time really is money”, and a very different marketplace than ebay.

It's a real brain twist in economics, how can upvotes be used for example as measure of trust during a transaction. I wonder what my university economics lecturer would think of these mechanics? Welcome to Steemonomics! The next experiment is running here.

Thank you for reading my post, all responses are greatly appreciated.

#Steemonomics