“Sinister Plan” Steemit for the Establishment of Worldwide Domination Crypto-Currency(Translated article)

“Sinister Plan” Steemit for the Establishment of Worldwide Domination Crypto-Currency

Most visitors to Steemit.com consider it as a platform in which you can can get rewards for a post, but this is just the tip of the iceberg.

The real money is not concentrated in the blogs, the creation of content or votes. The real monetary potential is in the spread of the digital currency. Currency, that is controlled and decentralized by the management of ordinary people.

The key to mainstreaming a currency is the presence of a community, which can and wants to use it. The platform for blogging, allowing everyone to earn - this is just the Trojan Horse. This is just a way to hide vegetables(clean money) in a dish(amusing content).

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Step 1 - Creation of a Stable Currency
The first step of the Steemit financial plan is to create a currency with a stable price. This currency is represented in values that everyone knows and has confidence in. This is the Steem Dollar.

The Steem dollar is different from other digital currencies, because as you use them, you don’t need to trust anyone to keep real money in the bank. It is provided with Steem 20 to 1 due to the growing community of bloggers. It also pays people a much greater interest rate than any bank.

In order for this currency to work, we need people to be able to earn it. This is why awards for publications are needed. We also need a highly liquid market where people can trade their Steem Dollar and Steem. The liquidity of the market is a key factor for traders, and also minimizes the cost of conversion.

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As you can see in this graph, the market possess (relatively) high liquidity with a spread of just 0.002%. Anyone can start and withdraw more than $1000 USD worth of STEEM Dollars/STEEM at any moment. And this is in a very young market.

Step 2 - Development of a Market

The next step of the sinister plan of Steemit is to establish a working market. The Market - this is a place where people can buy and sell goods and services. You may have heard of systems such as OpenBazaar, Craigslist, Angie’s List or eBay.

A successful market needs two things:

People
Money

Steemit attracts hundreds of new users daily and fills their pockets with new STEEM dollars. This environment is ready for the emergence of a rich market, where people can exchange both real goods and services, and their ideas.

If there is really a site/market that will bring cryptocurrencies to the masses, then this is steemit.com

Step 3 - Sidechains, Smart-Contracts and Smartcoins

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When you already have a multifunctioning currency, a strong community and market, and also a lot of content to attract new user, you are ready to start to create smart-contracts and sidechains around these assets.

Think of sidechains as a Facebook application. This will allow developers to create new games. This will allow people to issue their own currencies. On the basis of STEEM dollar and the STEEM network, you can create a variety of all kinds of reliable financial instruments.

Unlike other platforms of smart contract, STEEm does not charge commissions! This means that application developers can create things that are simply not viable in another environment.

The Long Way

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It’s a long way, but the STEEM community will ultimately pass along the road from the yellow brick road to the Emerald City and in the process, it will overcome the wicked witch of the west. The STEEMIT COMMUNITY just needs to overcome fears, stop being cowardly and find it in your heart to love each other.

Perhaps, this plan may not be so sinister.

(Translated from @rusteemitblog)