There are a few details that I'm interested in knowing further to help support my own knowledge and those who read the blog page. Most clips that I have viewed on Steemit on Youtube are consumer focused on explaining how the platform benifits 'us'. I'm interested in the company/ developers/ organisation and overall structure and reaching out here for some help
The first question is how do the founders and developers of Steem and team pay themselves/ live day to day? From the research I have done, I cannot see how the 'organization' creates any upfront cash, or creates ongoing revenue to continue to live. Ongoing development is super important to Steemits long term success and with marketplaces and possibly third party integrations on the way, what is fueling the team
Is it fair to say 'steem' will always outpace the growth of Steempower? Given this statement, the creation or expansion of Steem must be at a ratio greater than 9:1?
Also, it seems Steem dollars serve no purpose and I am struggling to understand. Are they made simply for those who want Steem liquidity as an asset and to use to 'promote posts'? In the mid to long term do they risk of the deflationary effects that will occur due to the expansion of the ecosystem?
I am assuming that value of Steem is only ever relative to its market price. So in the case, long term a lot of people start transferring Steem power back to Steem (which is already at a lower growth ratio than Steem) that the fiat USD holdings that the Steem organisation/ developers hold in contract, will always be more valuable than all Steem in circulation? Or is this problem mitigated due to the sliding nature of a deflationary/ contracting event? For example in the case of a 'run on Steem' such as a run on a bank, the value of Steem will go from high to low accordingly. Thus as the long tail USD fait of Steem holders become contracted as the network shrinks ensuring there is always enough cash?
In the above-mentioned scenario - it is also implied that although the value of Steem at market level could be shrinking the supply of Steem would also need to still be inflating at a ratio higher than 9:1 to meet all SteemPower contracts? Thus creating a multiplier effect on the downward contraction?
I am sure there are some Steemit experts on here that have these solutions. Help everyone out and let us know how Steem continues to power on.
Enjoy The Ride - KTB