Quote from: iamnotback on July 15, 2016, 03:38:58 PM

I edited my post on the prior page, because I am nearly certain I have deduced the business model plan for Steem:

Quote from: iamnotback on July 15, 2016, 01:22:46 PM

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Edit: I have figured out their business plan. They obviously are hoping that the commerce which must take place in STEEM (not Steem Power) tokens will pay for the costs of rewarding content creation, via the 9X greater debasement of STEEM vs. SP. This is how they hope that investors do not end up paying for the content ongoing. So the income producing model is apparently the commerce they expect to take place on STEEM once they have a large enough userbase who have plenty of Steem Power tokens to cash out every week to STEEM tokens.

The problem I see with this model in addition to the criticism I made above, is that the commerce won't be a large proportion of the Steem Power, because users will prefer to cash out to fiat or Bitcoin because the merchant ecosystem will be too small. Again my point is there is no way Dan can scale the currency to a diverse ecosystem with it being a corporate controlled block chain (DPoS) and where his company controls all the users. Ecosystems need very diverse network effects and unlimited degrees-of-freedom in order to maximize rate of diversification and scaling.

Dude, what exactly do you mean when you say corporate controlled blockchain and that he controls all the users. Can you elaborate on that? What power to they have? Would steem still work if dan an ned were hit by a bus tomorrow? This seem to be genuine cause for concerns indeed.