Steemit: A Great Way To Discuss the Creation of Money
A common question I get asked when I tell them about making money on Steemit is 'But where does the money come from?'
I'm betting many of you have run into the situation where you discuss how you make money from your blog through Steemit. Even after telling people that the money comes from the Steem blockchain rewards pool, it often doesn't register with them.
It seems the idea that money can be created out of thin air is a foreign concept to most people, highlighting the fact that a majority of the population doesn't understand how dollars enter circulation. Money is everywhere and central to much of our lives, yet it is still a somewhat mysterious and misunderstood idea.
Steemit makes a great transition into talking about how money is created
Many people are skeptical about money that is being created from 'nothing', yet are totally fine when it occurs on a centralized level. A person that questions the validity of a Steem token likely has a double standard in relation to their fiat currency, the money that is given value because an authority decrees it to be so.
The fractional reserve, debt-based fiat system, which lacks any transparency, accountability, or public oversight can be neatly contrasted with a system such as Steemit, where all transactions are public and the amount of money entering circulation is predictable and can't be manipulated.
This doesn't mean Steemit is the perfect distribution of value, as whales, voting bots, rewards pool rapists find ways to skim off a large percentage of the coins that enter circulation, but it's still vastly superior to the opaque and completely manipulated central banking system.
How often do you get a smooth transition into the conversation of money creation?
Discussing the somewhat loaded topic of money isn't something that comes up into daily conversation as often as the results of a sports score, the latest political drama, or personal gossip. Often, we don't have an easy way to broach the subject, as many people seem to want to avoid the discussion or are largely oblivious to it.
I've found Steemit to be a nice segway into this somewhat esoteric and heavy topic. I have used it as an educational opportunity for those curious about how I'm actually earning money without advertising or being paid by an individual or company. I don't always go full speed into the history of the Federal Reserve, but for inquisitive minds, it can sometimes lead down that road.
The best way for an individual to come to a realization about something is for them to ask the question themselves. Steemit is a spark to ignite further exploration on a very important subject, and for that, it has real value.
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thanks for sharing!!
No one think about that
the Money comes from hard work that people do.
No work No money.
Gold has value because it require that much of hardwork to mine.
Bitcoin has value because it require that much of electricity and equipment to mine it.
SteemitDollar's value comes from the time and effort people spend to write the posts.