There are a few details that I'm interested in knowing further to help support my own knowledge and those who read the @knowtheblock blog page. Most clips that I have viewed on Steemit on Youtube are consumer focused on explaining how the platform benifits 'us'. I'm interested in the company/ developers/ organisation and overall structure and reaching out here for some help
The first question is how do the founders and developers of Steem and team pay themselves/ live day to day? From the research I have done, I cannot see how the 'organization' creates any upfront cash, or creates ongoing revenue to continue to live. Ongoing development is super important to Steemits long term success and with marketplaces and possibly third party integrations on the way, what is fueling the team
Is it fair to say 'steem' will always outpace the growth of Steempower? Given this statement, the creation or expansion of Steem must be at a ratio greater than 9:1?
Also, it seems Steem dollars serve no purpose and I am struggling to understand. Are they made simply for those who want Steem liquidity as an asset and to use to 'promote posts'? In the mid to long term do they risk of the deflationary effects that will occur due to the expansion of the ecosystem?
I am assuming that value of Steem is only ever relative to its market price. So in the case, long term a lot of people start transferring Steem power back to Steem (which is already at a lower growth ratio than Steem) that the fiat USD holdings that the Steem organisation/ developers hold in contract, will always be more valuable than all Steem in circulation? Or is this problem mitigated due to the sliding nature of a deflationary/ contracting event? For example in the case of a 'run on Steem' such as a run on a bank, the value of Steem will go from high to low accordingly. Thus as the long tail USD fait of Steem holders become contracted as the network shrinks ensuring there is always enough cash?
In the above-mentioned scenario - it is also implied that although the value of Steem at market level could be shrinking the supply of Steem would also need to still be inflating at a ratio higher than 9:1 to meet all SteemPower contracts? Thus creating a multiplier effect on the downward contraction?
I am sure there are some Steemit experts on here that have these solutions. Help everyone out and let us know how Steem continues to power on.
Enjoy The Ride - KTB
Understanding how the economy works is a real challenge. I am no expert but they do exist. I would take a look at posts from timcliff and clayop....
Hope that helps and you find what you are looking for!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I posted the same link and question to the Steemit community managers on Youtube and other social media and got no response.
So thanks for coming back to me on it - im glad Im not the only one who is struggling with the math of the ecconomy
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No problem and far from it! I can hardly get my head around it either! :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Over the last couple of days I have been waiting (and hoping) that some Steemit experts would have weighed in on this conversation and questions, but so far its been a little silent.
So now I hope the community manager Andrew Levine @andrarchy will help us to respond that would be fantastic. This question was posted here on Steemit and also to his Youtube clip which explains in detail Steem, Steem Power and Steem Dollars.
If Andrew is not able to weigh in, if there are any other Steemit experts that may know some details, that would be awesome.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit