Would Mass Adoption Make Steem More Equal?

in #discutio6 years ago

Background

"Its great that Steem is becoming the blockchain that helps people in difficult economic environments to grow. It proves the fact that Steem is indeed the only blockchain actually functioning as an economy within itself and rewarding work outside of the coder community.

However, despite those positive factors and, despite the lowered price of STEEM, the cost to work your way out of the worthless upvote category and get yourself into just the $0.01 upvote value area requires 220 SP in today's market or a $61.60 financial investment. That's not extremely difficult for many people in the United States with a $10.50 minimum wage, but it can be rather difficult in many other places in the world. Even for thriving economies people often think twice about buying into anything online in the $50+ range.

It is undeniable that as more and more people adopt the Steem ecosystem that it will become more expensive to buy STEEM to power up your account for resource credit and upvote uses. For example, I bought a bunch of STEEM at $1.10 and at that time it required 125 SP to be able to dish out $0.01 valued upvotes. This means that it cost me $70.40 US dollars more than it would cost someone else for that same upvote valued at $0.01. Gradually, prices will go back up as online communities begin to recognize the value add to integrating Steem in their blogs, podcasts and what have you... This means it will become more and more difficult to acquire a large amount of STEEM to power up your account."

Original text and more here: https://steemit.com/steem/@hobo.media/would-mass-adoption-make-steem-more-equal

Credits to @hobo.media


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To support your work, I also upvoted your post!

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That's some good analysis.

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And what do you think about that?

definitely, that's the @hobo.media stance

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