Quote from: iamnotback on July 15, 2016, 06:48:02 PM

But even you recently admitted you didn't invest any of your money into Steem. You are just extracting money from it like everyone else who is smart.

I don't think you'd be willing to invest and lock up your money for 2 years?

That is correct, I did not invest any money in STEEM. I earned my way in by posting and curating content.

I did however buy STEEM and power it up into STEEM power with the STEEM DOLLARS that I earned from said content creation and citation. Why you you ask?

To me it is play money, and it is inflating at about the same rate Bitcoin did for its first 8 years. Thus, if Bitcoin (and Litecoin, etc) can survive that then I think it is possible for Steem to survive it too. That gives Steem 8 years to figure out a more sustainable model. I think it is even more possible for Steem to sustain that ibflation, because I think it is growing exponentually faster than Bitcoin is. Or, at least recenttrends indicate that it will.

I agree with Smooth on this... no one can tell the future. Although the economics look bad now, there are ways that they can be improved. I previously mentioned paid advertising, but there are other ways as well. For one, Dan is currently developing a Steem marketplace which could also bring in lucrative profits to make the model more sustainable.

I think it has more of a chance to succeed than other decentralized markets, because the Steem social networking platform's usership is exploding. I don't see that explosion slowing down anytime soon, as even though Steem is getting beat up on Bitcointalk.. most of that usership has never heard of Bitcointalk (or cryptocurrencies for that matter).

This gives any other profitable features built on top of the Steen social network a huge advantage versus other blockchains. Take for instance Open Bazaar, they are simply a decentralized marketplace and nothing more. Once Steel's marketplace is up and running, it will start out with exponentially more users than any of its competitors. Ebay is so successful because of its usership. Users will be attracted to the markets with the most buyers and sellers.

This advantage can be applied to other profitable features as well. The social network can be seen as the marketing arm of a Steem conglomerate. Steen could become the Google or Apple of blockchains, and that is why I reinvested what I earned in SD into SP. I may be willing to ~~invest~~ speculate in more SP with my own money based on the off chance that happens IF I had extra disposable money I didn't mind losing (which I don't at the moment.)