RE: Let's Crowdsource An Article About Steemit For The IE Website
I'm not a tech person, but I can attempt a few of your questions.
First, are you aware of steem.io and of the whitpaper on steem that is linked in the upper right?
1 Steem Dollar is meant to be pegged to one fiat US$ (petro dollar). This may have its own problems in the long (or even medium) run because of the danger of collapse of the petro dollar. All fiat currencies have eventually gone to zero value with the average life span being well under 50 years. But I think that the Steem founders have contingency plans to move the peg to something else. Where you may be confused in thinking that one Steem Dollar was worth 36 cents is in the fact that that is the approximate current market value of one steem, not one Steem Dollar.
Do people actually get paid? Well, I guess we will find out for sure on July 4th, but I think that they will. We are just hoping that most people want to stay invested in the steemit project with much of the payout while this project is being kickstarted.
Does it have the potential to replace Facebook? Quite possibly, as more and more people realize that on Facebook they are the product and the profit model is to collect and sell their life details and their attention to advertisers. As to replacing redditt - that appears to be inevitable.
Excellent answers. That helps me a great deal. Yes, I am aware of the whitepaper but its clear I need to re-read it. I did a ton of research in two days, and I think my mind got a bit overloaded and confused. I see that a thorough understanding of blockchain is probably in order before i write the article. What I am attempting to do in my upcoming article is break everything down into the simplest terms so that the average person can understand it very clearly. I feel that being a liaison between regular people and abstract concepts is one of my purposes (in life and work).