change comes with time and times come with change but my biggest worry is the governments and if it will allow a thing called steemit.com to stay...that is my biggest worry...technically they can't stop someone from literally giving money to someone else...they can though illegitimate the entire system or even restrict the reward system to practically
0
My biggest fear is and will always be the government and in particular case the banks...
Steemit acts like a bank where a 100,000 $ account can payout a squared 4 times 22.96$ per day before the steem power start decreasing gradually as you upvote
That is over 91$ a day now add a fifth vote and you will pass the 100$ per day payout
That is over 3,000 $ a month...
That is also a 25% interest rate which is unheard in many parts of the world and that is why I say the bankers won't let it slide so easy unless ofcourse they enter the competition and start raising their rates which will not happen for reasons that will take too much space in this post but one thing is for sure and that is the fact that platforms like steemit.com defies the current system as a whole to the point of incrimination because if I can earn 25% per year in a truly free market and you (the bank) are paying me 0.001% only for the same investment then that leads me to classify it as a direct, legalized robbery of my funds and utterly of my future
I would also add that the concept of Proof of Stake that is integrated in every token and coin out there incriminate the entirety of the centralized system such as the central banking system which is the biggest scam of all time
Why would I give my money to one institution only to be at its mercy later?
You know
For example in Africa there are many mini projects to be done such as small water canals, land roads, land dams, etc. but they are kept in queue!
Why does the central bank starts acting as a real central economy engine and go down in history as the biggest institution for human progress ever unless it there to give you a false reality and instead of making you richer it actually sucks you dry with high pay back interests rate
You see?
Instead of it paying you high interests on your money, you find yourself paying the bank
You have to understand that the bank doesn't have any value whatsoever except for the fact that it "HODLS" your hard earned money...think about now and ask yourself whay does a bank actually produce in terms of good...nothing
It is nothing but a big vault with your money as hostage
Criminals in law...you cannot sugar coat it! They got to go but before that they got to pay back us our stolen money. You think slavery ended? I am telling you I will not rest till I see every banker in the supreme court!!!
Anyways sorry for deviating a little here but back to our subject...
So with these high rates (high in relation to the banks ofcourse) that means...
The Economy will stop!
Well, you would wish...if everybody could afford a 100K $ account worth of STEEM we would be sitting at home while trucks, ships and industries slowly rust which is not a bad of a scene if you ask me
Realistically speaking it would actually boost the economy as more fresh money are being introduced everyday in the markets wether you spend your STEEM on a bag of grocery or for opening a new business
Let me clear this point further...
Think about steemit.com as a "reverse" ponzi scheme where the top holders can and will pay smaller holders of steem and not the other way around
Think of steemit as a reverse pyramid...
The mechanism beneath this is similar to the banks where they pay you a specific interest rate on your money for holding it in their house (that minute 0.001%)
So instead of the bank "allegedly" paying you it is actually a steemit user that does that by a process called Proof of Stake (PoS) as mentioned at the beginning of this post and instead of having his interests for himself he gives it away for somebody else that thinks he or she is worth it in what we know as UPVOTING or the process by which a user powers up another user
Practically the user becomes the bank! the bank of himself!
A moving dynamic bank where only he/she holds the key to his wallet and is in full control everywhere and all the time of his funds
That is why the banks are scared
because they are getting eliminated and no longer are required as a middle man for your personal finance
That is also why I am not against the SELF UPVOTE because that money is in all fairness YOURS
Now one could argue about the fact that has it not been for steemit.comwe wouldn't be able to get paid out which is a very strong point but also has it not been for the investors, steemit.com wouldn't have the success it is having so it is utterly important to argue such matter in an atmosphere of balance and constructive criticism with always in mind how to improve or find the "zen" between these two entities
Now having said that it is also important to make notice that the value of STEEM is mainly dependent on future events meaning that if a project declares that it will be using STEEM as a major engine for its platform then this will increase the buy orders of STEEM on the markets thus increasing the overall price and market capitalization
Of course steemit.com alone can be as big as facebook and lead single handedly STEEM price to the moon but because of STEEM's scalability there is no limit to the numbers of adaptions it could have and that's why in case of a slow growth in steemit.com, STEEM could find more value elsewhere
So look out for upcoming projects that integrate STEEM
Also the fact that STEEM BACKED DOLLARS are pegged to the United States Dollar illustrate the vision of the creators of STEEM to be always tangible to a reserve currency used daily in the outside world
This was, in my opinion, a way to relate a crypto currency to the masses by resembling a common known world currency
Of course it fluctuated in price enormously when 1 SBD hit, I believe, the 18$ USD mark back in November 2017 which shows us once again that the markets create the price and that SBD is debatable as wether it is backed or not by USD
So that brings me to think about the possibility of Steem Dollars to change into a Steem Bitcoin or STEEM BACKED BITCOINS in a time and space where Bitcoin could potentially be the world reserve currency and here the doors are wide open for speculations and opinions ...
STEEM BACKED BITCOINPRIVATE anybody?
These are my thoughts and I will stand corrected at any time in the ever evolving world of cryptos
