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RE: Assume a can opener -- A critique of the snowflake plan

in #steem8 years ago (edited)

They won't really spend their money as in " not free". The steem power that they bought can be sold back for fiat and will likely be worth more than what they initially paid for ( so their you have your ROI) .

So in this perfect world where we're implementing your system, steem price is constantly going up. And the fact that its constantly going up is what causes the demand (not the other way around)

While in the real world, we're flirting with ATLs on what amounts to a 7 month slide... you see how these assumptions are more than a little biased? ANy system is going to sound like it works better than what we have if you take it as a given that the price of steem will constantly go up.

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So in this perfect world where we're implementing your system, steem price is constantly going up

You are misunderstanding, the price will also go down and some users might lose some influence, but it won't matter because they bought it already and that increased the price. Some new users will want more influence which will increase the price again, then the price might go down,etc..but the idea is that more people will buy steem power to get influence than people will sell the steem power that they already bought.

Steem price will have to increase to handle new users, so yeah that should definetely be the goal. I often hear people say that an increase in number of users will lead to an increase in price, this is completely false in the current form, users have no incentives to buy steem power right now and curation rewards is only an incentives for a minority of users, most people who uses steemit have no idea about them.