Yes that is true..right now you have to exchange steem for fiat. But that is true for almost all cryptos including Bitcoin. Most places will not accept bitcoin for food, gas, or medicine.
So the question becomes, is the entire cryptocurrenciy sphere a ponzi scheme requiring newer people to enter to buy the crypto so people can buy stuff in fiat?
And by the way, be mindful that you cant use most fiat in most areas.
I cannot go to my local supermarket with a hand full of British Pounds and buy food. I have to convert it to USD at an exchange. Even those who swipe a credit card, their accounts are in pounds but the US company paid in dollars...so exchange has to take place.
We are very early in this game...that is why I draw the parallel to email in 1993 or 1994...people, at that time, had no idea what was on its way. The same is true now...this is just round 1.
Right, I totally agree with you. I think that if the cryptocurrencies succeed and revolutionize the financial system, many cryptocurrencies will generally remain and be used by us, then, the Steem, like others, will have to look for their position at that point. I do not believe that cryptocurrencies are a ponzi scheme, that is, there is a real utility that supports many of them, the issue is in itself achieve the objectives that are proposed. I also believe that we are in a phase in which we do not fully know what we are part of, in fact I wrote about it. For now, we have to enjoy Steemit, Steem and cryptocurrencies in general, and support the projects that come with them. However, I believe that in the future we will see changes with respect to Steem, it will have to adapt to a different market in the future.
Certainly it will be interesting to see how it all unfolds. None of us have a crystal ball....yet we do see many signs of the direction things are going. For example, while not knowing the future it is safe to say that renewable energy will be a much bigger part of the world down the road. Same with electric cars.
Here, we know blockchain is revolutionary, we are just unsure how it all will unfold.
Tokens are going to be a part of the future. Of course, probably half in existence today will be gone since they are scams/garbage to begin with. Each of us is going to be compiling tokens from a ton of different sources down the road and, there will come a time when people will use crypto to pay for things.