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RE: Steem Dollars to Paper Dollars
In a way this is like a micro-patreon in the sense that you are able to reward content by owning equity. So I guess the main draw is having the clout to curate content.
I agree that a major draw of Steem at the moment is its use as a tool to curate content on SteemIt.
Of course, people can curate without buying steem.
A wallet full of Steem Power increases the influence of one's curation.
SteemIt pays people for curation. Even the curators will arrive at a point when they want to power down and trade some of their Steem Power for cash.
Your suggestion of using Steem to reward or pay for content creation is even more interesting. The upvote of a new account is worth about 0.0005 Steem. That is not sufficient money to create content.
In this case Steem is a currency used in a transaction to reward content creators.
In this scenario, a person buys steem and gives it to the creator. The content creator is likely to quickly sell the steem to pay expenses. Steem is held for the duration of the full transaction.
In this case the value of steem is simply based on one's willingness to use it as a form of currency. The same rules apply to all forms of currency including bitcoin and fiat currencies like the US dollars.
PS: I would like to see steem used as a direct mechanism for rewarding content outside in the web at large.
"I agree that a major draw of Steem at the moment is its use as a tool to curate content on SteemIt.
Of course, people can curate without buying steem.
A wallet full of Steem Power increases the influence of one's curation."
Precisely. Which is what I mean by "clout."
"SteemIt pays people for curation. Even the curators will arrive at a point when they want to power down and trade some of their Steem Power for cash."
Speaking for myself, I don't intend to ever liquidate my SP. I do currently have it set up to pay me half-and-half SP and SD. I have accumulated about $5 worth of SD, so I think that I've probably accumulated a corresponding amount of SP. Now, I probably will cash out my SD at some point, but I don't intend to touch my SP. I want to continue to let that accumulate clout for me while I take my SD and invest it elsewhere (most likely, other cryptos).
"Your suggestion of using Steem to reward or pay for content creation is even more interesting. The upvote of a new account is worth about 0.0005 Steem. That is not sufficient money to create content.
In this case Steem is a currency used in a transaction to reward content creators.
In this scenario, a person buys steem and gives it to the creator. The content creator is likely to quickly sell the steem to pay expenses. Steem is held for the duration of the full transaction.
In this case the value of steem is simply based on one's willingness to use it as a form of currency. The same rules apply to all forms of currency including bitcoin and fiat currencies like the US dollars."
Yes. An extremely convenient way to compensate people for their work in direct, concrete amounts.
"PS: I would like to see steem used as a direct mechanism for rewarding content outside in the web at large."
I was very excited about Reddcoin because that is precisely what it is attempting to do. However, I'm not seeing them integrate into social media very effectively. Steemit already has its own family of platforms, and I don't see why they couldn't take that and develop their API in such a way that it could integrate into other platforms, assuming the creator in question was set up to receive it.