IMAGINE IF EVERYONE ON STEEM WAS A WHALE.

This is basically my reaction to a tweet I saw earlier about how Central bank prints out money(fiat) out of thin air. The argument was that if this was possible why not print enough for everyone. Certainly, there are people across the globe who die of hunger and starvation on a daily basis; a lot of individuals in underdeveloped countries who do not have the capacity to influence their community or the world in general due to lack of skill or opportunity.

I did some economics in school and money was one of those topics we discussed. Now one of the primary properties of money is scarcity. Do you ever understand why you never buy the air you breathe? It's essential to your survival on this planet, however, people do not pay for it. The reason is that oxygen is accessible to everyone on this planet as long as you have two functioning lungs. Thus it doesn't have any monetary value. Gold is not essential to life but people would work to earn to buy them. Gold is scarce and it's in demand.

Fiat is just a media of exchange. People exchange goods and services for money. These things are scarce and it's only rational that the means of exchange is scarce as well so you get equal value for what you're exchanging for fiat. If money was everywhere people would not need to work and no one would be willing to exchange their resources for something that is literally everywhere in abundance

So what if everyone on steem was a whale?

Steem will be worthless because everyone has it in abundance. I certainly won't be writing each day to earn what I have in abundance. I don't know that many whales who actually spend time creating content or replying comments. Chances are many will exchange their token for something they don't have but need. Steem remains viable because people are essentially willing to work for it; purchase it; speculate on it, and build the chain (at a cost).

I know the thought of a world where people do not have earn paper money printed out of thin air sounds quite appealing but it will disrupt the system (which is flawed but works to a certain degree). The only time I envision a world where the majority do not have to work to live is a time in the future were robots and AIs take over our planet. I have read books and watched movies regarding this and it isn't such a great future because it inevitably means the human race is useless and you know what that means for any species. The concept of value would be lost because people would not understand scarcity. Once upon a time, people are required to go to a physical office and work for hours to earn. That reality is slowly changing and will permanently change for a lot of people. Do you imagine the psychological economically effect that will have on any economy? This could have not been fathom centuries ago. Some people are already thrilled by the thought of having not to be physically present in an office to earn. What does this mean for car companies and transport systems who employ people as well? You see the pattern now?

A world where people don't have to work for money isn't a world we are ready for. I even dare to say that it is not possible. The problem with our current financial system is that it favours a certain class of people--the elites. What the masses can do is create a channel or exchange system that is for them creating an equilibrium of some sort. Block chain technology and cryptocurrency we're supposedly grassroots movements to cede power from big corporate bodies and government by offering a trustless system that benefits us all. I am sure if that's still the case but it makes much sense to have an alternative means of recording information and rewarding people for their work which is transparent to a certain degree.