What we could do to fix the value of STEEM for real

in steemleo •  4 months ago 

68522387_457371298444649_8916319554938863616_n.jpg

I just read a thought-provoking post by @denmarkguy about the future of Steem. It's really good read and I recommend you check it out.

I started replying to @denmarkguy with my comment but it became too long so I'm publishing entire post about it.

@denmarkguy is right, if we all stopped draining the reward pool, then selling pressure could be reduced somewhat. But of course Steemit Inc sells it's liquid STEEM at a rate of 500k-800k per month. We can't control this. We still need more buyers than sellers. @denmarkguy writes that his friend funded entire vacation through Acorn program while never investing more than a dollar at a time. This is really nice. But what happens when we all want to have a vacation from our earnings and investment on Steem? This would be also tremendous selling pressure.

OK, so maybe we need more businesses who would invest into Steem ecosystem. This is closer to reality but again, at some point these businesses will want to see ROI and cash out at least part of it. You see, whatever we do, if money leaves the blockchain, we have selling pressure.

OK, we can find more people, more users, more investors. A game of numbers. Sure, but sooner or later we will run out of new users and demand for Steem could diminish.

But what if we created a real ever growing Steem economy? Where you didn't have to cash out? Where you could buy products and services for Steem? Where you could go into a restaurant and pay for coffee or a meal with an upvote?

I think we (community of authors, curators, investors and developers) should be working towards this goal which is sustainable in the long run.

Just like there is dollar economy, euro economy and various other economies of separate countries, we could strive to create a global Steem economy.

Then the price of STEEM wouldn't even matter because this economy would be self-reliant.

You think this plan is too ambitious? I've heard that the problem is insurmountable if you can't think of the first step.

What is No. 1 step towards the Steem economy?

I'd say more and more partnerships. More and more businesses which would accept STEEM in real world for their products and services. More and more integrations with platforms that are already working.

I'm sure our developers are already working towards this. So it's just a matter of time.

PS But for now let's try to patch the holes in our ship so that people wouldn't be compelled to cash out without actually growing their SP. Here we need to think about a way to communicate this idea to people from struggling economies who look at Steem as cash cow.

PPS And don't worry, at some point Steemit Inc will run out of STEEM to sell and all this STEEM could be distributed in the hands of dedicated members of the community.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

The steemit is not the biggest problem here.

Yes, they could have sold few millions more when it was ATH, but alas...
in the last 30 days there was about 6M steem going out to the exchanges (not including 800k from steemit), so it is a big number, but it is not the greatest.

One of my visions is to open up a small STEEMcafe which would accept only steem/sbd and basically serve only coffee and beer :D

however,

Just like there is dollar economy, euro economy and various other economies of separate countries, we could strive to create a global Steem economy.
Then the price of STEEM wouldn't even matter because this economy would be self-reliant.

In the end these restaurants and businesses that would be paid with steem need to live, pay the electricity and stuff that involves government and broad public - that's basically utopain - I don't see governments anywhere near crypto, and especially not steem, with a badly pegged token (SBD).

I would love come to your Steem Cafe!

Greetings friend @organduo.

I recently read an article where a hypothesis was raised on how to stabilize the value of the steem.

Calculating the amount of blocks that are generated in the blockchain, the author estimates that 280M Steem that will be produced in next 15 years. Assuming that half of them 140M are sold in the market, then it would be necessary to incorporate 140 steemmillionaire who acquired those tokens.

The imagination and the desire for the steem to recover its value leads us to make these approaches so intrepid.

I believe that this proposal to use steem as a global currency would be the most viable option to create a true economy that achieves the necessary stability.

All best, Piotr.