RE: STEEM Is Cryptocurrency 2.0: Here Is Why It Is A Huge Winner Long-Term
You're right, but I do not think you understand what I'm trying to say. With the Steem you can not buy anything in the real world, you can not buy clothes, food or medicine, nor pay gasoline. That is, you need to change your Steem for fiat, and that fiat will be given to you by new users, or people who are already on the platform and want to buy. In both cases, the Steem would not be fulfilling a function that can not be replaced by fiat money, and the only ones that value it are those who want to write in Steemit for pleasure. Or am I wrong? that's my question, I see the Steem as a method to reward content creators. But unlike YouTube, for example, which pays in fiat money, and that creators can use it to buy products, the Steem must first be exchanged for fiat money
@vieira I am replying to your comment:
Receiving value does not have to be fiat. Your house, a gold bar, Apple shares, and a Van Gogh painting cannot buy a cup of coffee either.
All that matters is that someone thinks it is valuable and is willing to exchange it with you for something they think is less valuable. It does not have to be fiat. However if you lived in Zimbabwe, Venezueala on Nigeria, you would find plenty of people willing to swap their fiat for literally anything else, steem included.
People choose to measure their wealth in fiat, but when the fiat approaches worthless that is no longer a good way of keeping score.
The only mathematically correct way of keeping score is to find an asset which has a finite supply, like bitcoin, and measure your wealth in that.
(We are all so much poorer now than a year ago.)
touché! I live in Venezuela and have hit the nail on the head. I would be one of those people who would exchange their Venezuelan coins for Steem. But I was just clarifying that for now it is not possible to buy products directly with Steem, which I want to be possible, and that is why I think that in the future Steem needs to be negotiated in another place besides the Exchange.
Yes that is true..right now you have to exchange steem for fiat. But that is true for almost all cryptos including Bitcoin. Most places will not accept bitcoin for food, gas, or medicine.
So the question becomes, is the entire cryptocurrenciy sphere a ponzi scheme requiring newer people to enter to buy the crypto so people can buy stuff in fiat?
And by the way, be mindful that you cant use most fiat in most areas.
I cannot go to my local supermarket with a hand full of British Pounds and buy food. I have to convert it to USD at an exchange. Even those who swipe a credit card, their accounts are in pounds but the US company paid in dollars...so exchange has to take place.
We are very early in this game...that is why I draw the parallel to email in 1993 or 1994...people, at that time, had no idea what was on its way. The same is true now...this is just round 1.
Right, I totally agree with you. I think that if the cryptocurrencies succeed and revolutionize the financial system, many cryptocurrencies will generally remain and be used by us, then, the Steem, like others, will have to look for their position at that point. I do not believe that cryptocurrencies are a ponzi scheme, that is, there is a real utility that supports many of them, the issue is in itself achieve the objectives that are proposed. I also believe that we are in a phase in which we do not fully know what we are part of, in fact I wrote about it. For now, we have to enjoy Steemit, Steem and cryptocurrencies in general, and support the projects that come with them. However, I believe that in the future we will see changes with respect to Steem, it will have to adapt to a different market in the future.
Certainly it will be interesting to see how it all unfolds. None of us have a crystal ball....yet we do see many signs of the direction things are going. For example, while not knowing the future it is safe to say that renewable energy will be a much bigger part of the world down the road. Same with electric cars.
Here, we know blockchain is revolutionary, we are just unsure how it all will unfold.
Tokens are going to be a part of the future. Of course, probably half in existence today will be gone since they are scams/garbage to begin with. Each of us is going to be compiling tokens from a ton of different sources down the road and, there will come a time when people will use crypto to pay for things.
@vieira it's important to know that crypto currency is slowly being accepted as payment in some store and I even know of a woman that pays her nanny with steem. So I think the more people get to know about steem and crypto currencies in general,the more it will be used as method of payment for both goods and services.