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RE: Business.com Promotes Steemit.com Encouraging Businesses To Join As Early Adopters To Cash In On The New Blockchain Based Social Media Startup.
@nathanbrown this is good news, but as brands start join steemit, there is one scenario that could occur, brand become whales and then upvote content that promotes their product, this could lead to product placement in article, like movies, I am not sure if that is going to be good. Brands do need to come in for the platform to go mainstream, but question is how
@unrealizback, if Steemit.com is going to be successful then what you described is EXACTLY what needs to happen and what will happen. After the speculation craze, there needs to be a reason for people to purchase SP that isn't just about speculation that Steem will increase in value. SP needs to be a useful investment on it's own, and it will be only if SP drives sales and revenue. Basically SP right now is seen as a way of gaining influence on the platform in order to earn more currency, but down the road SP will be both a stake in the platform and it will be essentially and advertising purchase.
If SP doesn't have this advertising value, then a long term drop in the price of steem (which I think will happen eventually due to the 100% annual inflation rate) will just drive people away from holding SP. Something, besides currency speculation, needs to drive people to buy SP again, and that something is essentially the ability to get exposure aka advertising.