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How Steemit helped me start understanding the disruptive force of crypto/blockchain by pieter

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steemit · @pieter ·
$846.35
How Steemit helped me start understanding the disruptive force of crypto/blockchain
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<p>Since I joined Steemit, I couldn't escape the impression that I was seeing the future. Now, after only about a week here, it inspires me with hope for a better world, where people take control of the technology they use to assign value to something. Instead of a few big banks telling us that we should value the dollar or the euro, now we can come up with all sorts of things that in most traditional systems are underappreciated and actually start rewarding them. We can exchange that value directly, without interference of any group that imposes their rules on the users.&nbsp;</p>
<p><img src="http://www.openforumeurope.org/wp-content/uploads/2016/05/Distributed-ledger-2.jpg" width="696" height="434"/></p>
<p>But it doesn't stop there. What the blockchain/cryptocurrency technology does is create a platform, rather than a certain product. On this platform, we can build many applications using the same underlying technology. So we can have forms of Liquid Democracy, in which voters (much like on Steemit) vote for the best ideas to organize society. We can build cryptocurrencies to support a sharing economy of things that are traditionally part of the fiat money economy, which can help to make goods and services that are now only available to the 1% available for everyone. This technology is both meritocratic (it rewards those with the best ideas and best work) AND democratic (in the sense that there is no barrier to participating, except for the technological devices needed). In a sense it is Anarchistic, because it breaks down such barriers and empowers everyone to follow their own path.&nbsp;</p>
<p><img src="http://www.reactiongifs.com/wp-content/uploads/2013/10/tim-and-eric-mind-blown.gif" width="315" height="210"/></p>
<p>As this technology becomes user friendly over the next years, and as more and more people will be attracted to it, the value of the cryptocurrency ecosystem will explode, while traditional economy will collapse (let's hope slowly, broad ranging chaos is never good for innovation). It is great to be a part of a movement that values the valuable things in life.&nbsp;</p>
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vote details (94)
@bladetrigger · 
When it comes to blockchain, bitcoin was only the beginning use case. The possibilities are endless and even steemit has the capability to evolve far beyond what facebook could ever achieve. The old systems cannot compete with this, they either have to embrace massive change or become irrelevant.
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@cabi5boh · 
Yes, steemit is the ultimate liberator. Communication and financial freedom, by the people, and for the people.
👍  
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vote details (1)
@elargroup · 
To clarify a bit for those that are new to STEEM I will add this detail.
When STEEM pays out 1 $ worth of rewards (whether from posting, commenting or upvoting) it simply creates the new units "out of thin air". This has the effect of diluting everyone's STEEM holdings since the supply has increased but your personal wallet's balance has not.
The way to protect yourself from this dilution is to Power Up.
What does this do you might be axkin '?
Well, for every 1 $ worth of STEEM created to pay for content & curation there are 9 $ worth of STEEM created to send to those that have powered up.

So you should only hold STEEM if you are planning on selling it, or sending it to someone. Do not hold it for a long time since it is being diluted little by little by everyday's payouts.
Power it up and you will lock in your value.

Hope this helps complement the main post!
http://linkme.ufanet.ru/images/9d8c77c4463f7a2b3e24c27a8796fd79.jpg
👎  
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vote details (1)
@gekko · 
simply mind blowing @pieter

I also feel proud to be part of this community with incalculable value 8]
👍  
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vote details (1)
@grahnite · 
yeah, very good summary of Steemit I would say. Let's hope it actually grows. Right now, there are thousands of little fish and a few whales, and none of the funds are being distributed. people are going to get sick and tired of making $0.00 with every post and seeing a few select make 1000's. Will Steemit implode because the whales are hogging all the funds? Guess we will see in time...
👍  ,
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vote details (2)
@pieter · 
As long as the 'few select' will expand, the number of people with power will expand as well.
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@nelu.ceban · 
look more about voting
https://steemit.com/steemit/@nelu.ceban/steemit-voting-collusion
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@peacekeeper · 
I know right!  This is an unbelievable idea and a new revolution in Social Media.  I'm excited about it and being in on this thing in its early days.  Good luck! Great post.
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@pipokinha · 
steemit is free from political pressure, and lobby's, it's democracy future.
👍  
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vote details (1)
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