I agree with most of your post and yes, we are going to be paid for our attention. Basic Attention Token (BAT) is a good project towards that vision.
Unfortunately, I don't agree with the following two paragraphs and here's why.
Right now I believe anyone who is active on STEEM will end up very well off. Rich is a relative term. However, those who power up in an effort to grow their accounts will find they have hundreds of thousands of dollars over the next couple years.
Steem/Steem Power/Steemit is a ticking timebomb. 6.5% of the investment money is distributed in a single year as rewards to authors and curators.
That makes $65 Million USD in a single year. If you believe the content posted on Steemit in a year is worth $65 Million USD, I have nothing to say to you.
I don't believe the content on Steemit is worth that much and no business can survive that kind of cash bleed. If you wonder how I came up with these numbers, check my post Can Steemit Survive Burning $65 Million USD in Author and Curator Rewards Every Year?
STEEM is at the edge of a massive explosion.
Well, I agree with that sentence though.
The sensational aspect is each new STEEM is issued directly to individuals. Unlike the bankster system where debt is first doled out, with STEEM, an individual gets "new money". This is true wealth creation for people.
I disagree; the individuals don't get "new money," they get the money paid by the Steem/Steem Power investors who don't abuse the system.
Thank you for your comment @bbilgin.
You can disagree all you want but it is not even up for dispute. Every SP that is paid out today in the reward pool is new money....it did not exist yesterday. That cannot be debated. The upvotes of others is what entitles one to that share of the reward pool but it is not using old money. For what you propose to happen requires me taking money out of my wallet and sending it to you. That would be me giving you old. money.
To start, perhaps it is best to learn the difference between steem and steemit. So you say steemit isnt worth $65M a year? Perhaps you are right. But how much is the content on D.Tube worth? Dmania? How much is a live streaming platform worth like Dlive? What about the value of Zappl?
How much is a decentralized exchange worth? How much is the pairing of other currencies worth? How much is bandwidth worth?
Does any of this figure into your $65M a year? Did you research all these different areas?
How much is content of pornography worth? What is the value of a pipeline that can process more transactions per second than MC/Visa combined? What is the value of built in ICO creation right into the blockchain?
Reddit is nothing more than a linking site and is worth around $1.8 billion. That is nothing more than a weblinking site with some spot individual posts; it has none of the other things I mentioned..yet at the $1.8B, from the current market cap, steem can go 10 years at $65M and still not reach Reddit.
So I would say with all that is going on, STEEM is worth a lot more than $65M a year.
You are following the logic of the central bankers that the cryptoenthusiasts criticize.
When a central banker prints "new money," they are not creating any new value, they are devaluing the existing money. They are reducing the value of each token, USD, Euro, etc.
That means when I hold $100 in my account for a year, and the fed creates 2% "new money" in that year, my $100's real value is reduced to $98. I can't buy the same goods that I could buy with my $100 a year ago. In other words, they are taxing everybody that is holding the related currency. They are transfering the 2% of the wealth from the fiat currency holding public to the government.
"New money" is created when you look at the face value. However, your average grocery store owner knows better than that and increases the prices of the goods they sell every year.
My comment is clear. "the content posted on Steemit in a year" "6.5% of the investment money is distributed in a single year as rewards to authors and curators."?
I'm obviously referring to the reward money that is paid to "authors and curators" for "the content posted on Steemit in a year," which amounts to $65 Million USD. A good chunk of that money is blown away for good.
Did I say the platform and everything else you wrote below aren't worthless? If I thought so, I wouldn't be here spending my time on posting and commenting about this issue.
This platform and the idea behind it is the future. But if Steemit keeps blowing away cash at this rate, Steemit won't be a part of that future. Other platforms and currencies will replace it.
Did you even read the white paper because if you did, you would never make this statement.
This is incorrect....those who are hold SP do not lose anything to the inflation rate.
People are not Steemit authors or curators. They are steem authors and curators. You are using steemit...fine. What about those using busy.org.? They are paid from the same reward pool...Why is that? Because it is written the blockchain. It is all shared. The content creators on D.Tube, which I believe is growing at a bigger rate than steemit, also share in that.
So I do not know how you attribute all that money going Steemit.