Re: Steemit how can this thing be workable long term?

Could someone give me some explanation as to why anyone would convert BTC to STEEM POWER? (not STEEM which is debased 92.5% to 100% yearly)

arhag's (currently #1 ranked) post summarizes some of the thinking, and also I'd suggest my comment there for a bit of elaboration. In essence Steem Power is a prepaid subscription to network access. By stocking up on Steem Power now you are speculating that access to the network will be worth more to more people in the future, who will then be clamoring to buy tiny slices of your Steem Power to get in or to maintain their access. Obviously, that is a very risky bet (all cryptos are, including Bitcoin).

https://steemit.com/steem/@arhag/where-does-the-money-come-from-a-look-into-the-economics-of-steem

You are basically going long for 2 years... in a crypto currency.

Seems extremely stupid to me.

Average of one year, assuming you start liquidating right away, but still, I agree, it is a very risky bet.

Price weighted average, but you wouldn't be able to decide when to sell if you started that 1 year immediately now after purchasing. You'd be pre-deciding to sell early (or late).

I think crypto speculators are going to much more interested in a competitor which fixes this.