So, it's nice that there's suddenly been a flurry of tokens with value dropped to Steem users.
Nice for us.
But, I do wonder if it's going to be a part of driving DOWN demand for Steem. If people are selling their steem for these tokens, which are just new money in the ecosystem, shouldn't that mean that the people who are essentially buying the steem for their free tokens have more to throw around, and could even wind up selling that steem in the long chain of events that leads to fiat?
Anyways. Money printing sure is funny!
EIP will let the rich get richer unless it leads more folks to abandoning the platform, which would make the poor and rich alike get poorer. Not sure who gets richer, then. That's a less-than-zero-sum game.
I guess I'm not afraid that'll happen overnight, so they've got time to wait and see the impact and make another change if this one goes the way I'm afraid it will. Will we recover, if that's the case? Dunno.
I don't mean to be all doom and gloom. Hooray for "free" money ("free" and real world economics don't coexist easily). Hopefully these platforms bring as much or more value to the chain than the overall steem costs of their tokens!
With Steem being the basic building block of the blockchain I am hoping that we see more liquidity. This might be spread around but LEO an PAL will add some FOMO to the blockchain.
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More liquidity? Why are you hoping for that?
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Eventually, we're going to have to look at ways to burn steem if these tokens and the HF don't see people lock away more steem> Yes there are good whales and bad whales but the only way we get this place to work is if we have reasonable middle class with stake and communities that can mobilize them, well that's just how I see it
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@improv, Definitely there are many questions and for these questions the journey is vital. Time will tell and will unfold everything. Have a blessed time ahead.
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More tokens = less liquidity for steem. We have the same problem with SBD robbing steem marketcap. it wouldn't matter if these tokens were on exchanges but today they are internally traded . Steem is liquidated instead of held.
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I wouldn't worry, the numbers coming in as a result of interest, FOMO etc will create plenty demand for Steem. Just a question of time - this blockchain has it all, but most of this is hidden to the 'outside' world .........but only for now :).
Enjoy the Abundance 🔆
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The part that gets me from a newbie perspective is that they say they want to grow the platform but where there is an airdrop for some type of new coin it's always for those who are already rich and the people they are trying to draw to the platform get nothing. That is only going to frustrate new people and get them to leave. Oh well I guess it's a wait and see type of thing
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Yep!
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This is the way i see it. It just slows things down and shifts responsibilities . Having a few, ok... but a whole bunch can do a bad thing for Steem, the actual currency will be driven down... is it a plan? I mean i see it in my head but it's hard to articulate.
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If the projects associated with the coins bring as much or more value to the platform as the amount of steem that flows into them, all well and good.
But if they don't, well... then that's not good for Steem economics.
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I see..
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Please see my comment about that. Steem is locked away when you buy Steem Engine tokens. That is good for the price.
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I don't know what you mean by locked away. The Steem doesn't go into a vault, it goes to the seller.
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Oh. Steem.engine tokens hold the steem currency kinda like gold use to for money?
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No. I don't know what @flauwy means by that.
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Each Steem is being traded for the Steem Engine tokens, it is locked away until it is eventually swapped back into STEEMP and then withdrawn from the market. Until then, the Steem is being held by the Steem Engine market and leaves the supply available on the open market. That drives up the price eventually.
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Um. In any trades, there's a buyer and a seller. The seller is getting steemp for something that didn't exist before. So to them, it's "free". With that "free" sensibility comes less need to get a high price, so when it enters the open market, the steem is less valuable. Unless the token brings as much value to the chain as the value of the steem it's been traded for, Steem is ultimately devalued.
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But isn't that just another thing they did that to the gold standard.. very interesting
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I don't know what you mean. But less Steem on the market is always good for us. :)
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I have written an article about this: https://steempeak.com/steemleo/@flauwy/scot-tribes-why-token-abundance-is-good-for-steem
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Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
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