The debate is whether the steem platform is a great way to reward content creators.
My understanding of one of Tone’s main issues is that he thinks that there is no real value being attributed to the users. He believes this because the market cap and steempower value is being determined by a constructed limited market supply due to the system discouraging holding steem and incentivizing powering down. He believes that this reduced tradeable supply is significantly controlled by the developers who can manipulate the market and create artificial demand to keep the price high. He then goes on to say that even if you are not good at creating content you will be able to double your steempower every year due to inflation which to him is a ponzi. (he is wrong you steempower does not go up 100%)
My thoughts, since people have influence and power the potential for corruption exists. But there is also potential to use that influence to build larger communities which will result in much larger benefits. I agree it is difficult to understand the complexity of the system, but it is not difficult to use. This platform absolutely makes it easier and more likely for people to be rewarded for their content. I am rewarded by it providing the motivation to create. There is something beautiful and special about a system that can take someone who is shy and afraid to get on camera and convince them to make that jump and start creating content (cheers to mughat for sharing this comment with me). I am using the steemit platform to create content because I share the long term vision of building a new community that can benefit in ways that no previous online community has. For 10 years I have wanted to start a video podcast. Now because of steem, I have started one https://steemit.com/@steemnation
Thanks to everyone involved for the great debate.
Have you bought any steem power? Would you consider this a sound investment if you dont achieve your expected rewards?
Jza, yes I have bought some steempower, so far only one BTC worth. I am still trying to understand the back end of the platform better, which is why I love seeing debates like this. As far as expected rewards, I don't have any short term expectations. I understand it will be difficult to get noticed here if you do not show up with a following. I am fine with taking the time needed to grow an audience . That's how it would work anywhere else, so I don't expect it to be any different here. And besides, if me and my friends are unable to build an audience, maybe we just aren't good enough at creating content yet. We can't blame the platform for not providing rewards. It's a learning process, and a lot of fun.