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RE: How I learned to stop worrying and love the Bid Bots
Indeed, the key to a higher value for STEEM is to have more reasons to NOT exchange it for fiat. The more transactions are being mediated by STEEM, the higher its value
Have you had any thoughts on a metric similar to GDP for the Steem economy?
sales and purchases of coins are slightly hidden in that they appear as any transfer, except to a known exchanger's account; there isn't a "sale" transaction as such. Which also means that STEEM is never really sold outside of the economy.
If I had been an economist, it would definitely be an interesting topic! :-)
But I'm just a "blockchain guy" with an amateurish interest in economics