Is Steemit social media or crypto currency?
If it is social media how would you get your friends from facebook to join you on Steemit. Seems much like a new twist on a MLM.
This is an interesting site, have not earned any steam but it has me dwelling on the value of any and many things. When you see cryptos being called currency then you know that in the long run it will fail.
If everyone was calling it crypto Money would it really be money. Is a paper wallet money or currency.
After the next hurricane when I go to the store to buy gas for the generator, how do I get change from my paper bit coin wallet. My be able to exchange some silver or gold or a chicken in a trade. I do not believe they will want to trade for Steemit or Bitcoin.
On the other hand Star Trek they get paid in Credits so I guess we will one day all be using crypto but it will need to be accessible throughout the universe in real-time. First one to lock down the Crypto Credit site wins.
Now this is no philosophical argument it seems to me that no mater what is used is money it only has value as long as everyone believes it has value or at least if a critical mass of the populist believes.
Have you been to the store lately when the power goes off? The cashiers cannot work till the power comes on. The trade stops immediately.
If your currency became worthless tomorrow what do you posses that would be valuable enough to trad for food, clothing and shelter?