How can Steem make it happen?
Steem has all the elements that are necessary to make a functional, decentralized banking system. With the rise of the internet, this is especially relevant. All we need to do is promote. Get Paypal users to stop using Paypal, and get Steem instead. Get those who still have a bank account to quit paying annual fees, and get Steem instead.
Bitcoin's growing popularity has proven that people want decentralization. However, I think Steem can take it all to the next level.
But bitcoin is way too technical, made for machines and difficult to be understood for a newbie. Steem in my opinion is the exact opposite of that. Personally I learned how Steem roughly worked pretty much in the first hour of visiting this site, thanks to the awesome GUI.
I love this article so much! I think we need more decentralization in every aspect, Not just with money.
This allows us all to have a hand in controlling everything, Which Is a very healthy way of living
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#BitShares 2.0 is a Decentralized Bank - Based on #Graphene BlockChian Technology like #Steem.
Developed by @dantheman ( @dan ) and Crypotonomex.
:-)
In BitShares 2.0, YOU ARE THE BANK!
May be you are interested in #BlockPay, #Smartcoins Wallet and Echo
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decentralization is the only way we are going to survive the coming economic collapse as i pointed out in my 700$ article.
https://steemit.com/money/@ultramari0/the-single-greatest-transfer-of-wealth-is-about-to-take-place-will-you-be-apart-of-it
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good stuff @jholdsworthy !
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Whilst i completely agree with your argument for decentralization, steem should stick to its roots and remain as a blogging/social media platform that is was built to be. I don't see Steem replacing banks and neither do i think it wise to shut your bank account and move all your money in to steem. Whilst its easy to get carried away and believe steem is the answer to all our problems and can be manifested in to many things it has its limitations. The solution the the worlds financial woes lies i blockchain technologies and i believe a service such as Ripple or NXT and maybe even Ethereum provide better solutions for this purpose.
Investing in a basket of cryptocurrencies right now is probably the right call, including steem ofcourse. Just like any other investment, investing in any technology requires knowledge in what drives it value. One of the most important things though is the people behind each of these ground breaking technologies, for example i believe much of ethereums value comes from not only the potential of Ether and its code but the belief in Vitalik to be the one to get us there. NXT and Ripple too have some very influential and dynamic people working on their respective platforms . At the end of the day "Any company is only as good as the people behind it"
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even worse in europe! They shut my bank accounts due the debt to telecom, they even shut my paypal, so I must use Skrill and Paysafecard to work online
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to teh moon!
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Decentralization and capitalism go hand in hand.
"We love money and power. And when someone gets that power - they abuse it."
It's unfortunate but true. "Absolute power corrupts absolutely".
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I agree that we should decentralize our monetary system. Sadly our government is heavily intertwined with the central banks. If you want to know who rules us follow the money and they will be the figure heads. Anarchism is the path to freedom. I enjoyed the article.
Check my article out on Why taxation is theft. Thanks!
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Im in for building decentralized banking systems. From Europe I plan to work in creating an European cooperative bank with license for all europe, focused in offer technological and payments infraestructure for the #decentralization of banking.
We count with faircoin (the currency for the cooperative movement) and with alliances with local social currencies around the world. #Steemit could have also a role in it.
If someone wants to contribute in that plan, lets me know!
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@jholdsworthy - I'm coming to this article late. I'm wondering if it's possible for governments to seize the Steemit website. I imagine they would have some trouble seizing Steem itself, but I don't recall setting up a 24 word seed which would indicate that I own the currency in my hardware wallet. Is holding Steem on Steemit, the same as holding bitcoin on Coinbase?
Steem power is committed to the network so I sense a centralization vulnerability might be possible with SP. I've been a software dev for over 20 years so feel free to be technical if you wish.
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