Question asked on Musing.io by ijoel

Viewing a response to: @musing-threads/f345klhkq

musing-threads · @ijoel · Dec 8 '18

Question asked on Musing.io

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👍 nonsowrites, foles09, codebull, bitcast, bulimbabitch, igram

`post_id`	67,149,256
`author`	ijoel
`permlink`	pk9mkc9kw
`category`	musing-threads
`json_metadata`	"{"musingAppId":"aU2p3C3a8N","appTags":["steem"],"appDepth":1,"appBody":"","appCategory":"steem","app":"musing\/1.1","musingPostType":"question","appTitle":"Will steem be accepted and recognized by the world community as a payment instrument such as USD?","musingAppVersion":"1.1"}"
`created`	2018-12-08 10:47:00
`last_update`	2018-12-08 10:47:00
`depth`	1
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`author_curate_reward`	""

properties (23)vote details (6)

voter	rshares	pct
bulimbabitch	466,830,880	4.9%
foles09	1,912,482,058	5%
igram	370,628,853	4.9%
codebull	958,377,568	8%
bitcast	486,513,487	100%
nonsowrites	3,263,851,482	20%

@shivohum2015 · Dec 8 '18

$0.27

Question answered on Musing.io

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👍 musing, funtraveller, reazuliqbal, naijauser, photocircle, mixr, bulimbabitch, igram, pkushi

properties (23)

`post_id`	67,153,648
`author`	shivohum2015
`permlink`	pkfz5slkw
`category`	musing-threads
`json_metadata`	"{"appParentPermlink":"pk9mkc9kw","musingAppId":"aU2p3C3a8N","appTags":["steem"],"appDepth":2,"appBody":"<p>Steem blockchain as a choice of payment instrument....is having a great potential and it has all that qualities to be acceptable as a kind of payment method, this is because of the following properties of steem blockchain:-<\/p>\n<p><strong>Scalability<\/strong><\/p>\n<p>Generally for the consideration of a cryptocurrency as a payment instrument, scalability is the foremost criteria and it should scale at least 1000 transaction per second and <strong>steem blockchain can scale up to 10000 transaction per second and second important aspect is that its block producing time is 3 second only<\/strong>. That means sending and receiving of steem is like almost instant, that is an excellent feature of steem. So in this criteria steem blockchain sufficiently excels to be considered as a payment instrument.<\/p>\n<p><strong>Transaction fee<\/strong><\/p>\n<p>Any cryptocurrency which incur high transaction fees, will not be accepted widely as a payment instrument, so ideally it should be either low or no transaction fees. We all know <strong>steem does not incur any transaction fees<\/strong>, therefore making it perfectly fit to be used as a payment instrument.<\/p>\n<p><strong>Native Wallet<\/strong><\/p>\n<p>Any cryptocurrency having its own native wallet is considered as ideal to be recognized as a payment instrument and again <strong>steem has its own native wallet<\/strong>, therefore in this criteria too steem excels.<\/p>\n<p><strong>Listing in major exchanges<\/strong><\/p>\n<p>If a cryptocurrency is listed in major exchanges then it is generally considered as ideal to be used as payment instrument. Because the users can buy and sell the cryptocurrency in exchanges and if it is available in major exchanges means it is sufficiently liquid and easily available. In case steem, <strong>it is listed in major exchanges like Bittrex and Binance,<\/strong> so again making it fit to be used as payment instrument.<\/p>\n<p><strong>Inflation<\/strong><\/p>\n<p>Generally for the consideration of a cryptocurrency to be used as payment instrument, <strong>the inflation should remain below 5%<\/strong> and <strong>in this regard, steem has a little higher inlfation rate which roughly 8.4% <\/strong>and but in the long run the inflation rate will go down for steem as every year it is reducing. So in this criteria steem is little on the back foot.<\/p>\n<p><strong>Stable currency<\/strong><\/p>\n<p>A cryptocurrency should not be too volatile and should trade in a stable range and in this criteria almost all the cryptocurreinces fail (except stable coins like TUSD or USDT) and steem is no exception too. Because of the craze of cryptocurrencies the price is really quite volatile and this may not be ideal for the consideration as a payment instrument.<\/p>\n<p><strong>Hard Forks<\/strong><\/p>\n<p>If a blockchain has survived a hard fork then it is generally considered as stronger than ever and in that sense <strong>steem blockchain has succesfully passed through 20 hard forks with the latest being HF20 and it is a testimony of the fact that how good steem blockchain is.<\/strong><\/p>\n<p><strong>Consensus, security and Safety<\/strong><\/p>\n<p>A network deploying a consensus protocol should ensure that the network is absolutely safe against any kind of attack and it should be well maintained too in regard to safety and security. Steem has DPoS consensus protocol and<strong> I think steem so far has proven that its network is safe and secure<\/strong>, so in this criteria steem excels for the consideration as a payment instrument.<\/p>\n<p>Thank you and Have a great day.<\/p>\n<p><br><\/p>\n<p><br><\/p>\n<p><br><\/p>","appCategory":"steem","app":"musing\/1.1","appParentAuthor":"ijoel","musingPostType":"answer","appTitle":"Will steem be accepted and recognized by the world community as a payment instrument such as USD?","musingAppVersion":"1.1"}"
`created`	2018-12-08 13:18:30
`last_update`	2018-12-08 13:18:30
`depth`	2
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`last_payout`	2018-12-15 13:18:30
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.205 SBD
`curator_payout_value`	0.061 SBD
`pending_payout_value`	0.000 SBD
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`body_length`	79
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`root_title`	"Musing Posts"
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`percent_steem_dollars`	10,000
`author_curate_reward`	""

vote details (9)

voter	rshares	pct
funtraveller	10,068,828,022	1%
bulimbabitch	462,181,171	4.91%
igram	371,854,699	4.91%
reazuliqbal	2,986,863,974	3%
photocircle	910,858,243	2%
musing	426,119,491,151	1%
mixr	827,060,553	8%
naijauser	1,954,990,918	100%
pkushi	0	5%

@luueetang · Dec 8 '18

Question answered on Musing.io

<a href="https://musing.io/q/ijoel/pk9mkc9kw">View this answer on Musing.io</a>

👍 reazuliqbal, photocircle, mixr, bulimbabitch, igram

`post_id`	67,154,413
`author`	luueetang
`permlink`	pkn4vsl3q
`category`	musing-threads
`json_metadata`	"{"appParentPermlink":"pk9mkc9kw","musingAppId":"aU2p3C3a8N","appTags":["steem"],"appDepth":2,"appBody":"<p>I think in the future it may be used but first if it's price stabilizes and can hold its value at usd 1 to 1 Steem or more to have more people want to use the currency. The most important thing about a currency is the store of value. It is a question of whether Steem can be used as a store of value or not just like gold.. If it can, then Steem could have a chance of use as a payment along side the usd. The next thing is there needs a mechanism to prevent the price from fluctuating. If the price constantly fluctuates how are the users assured of the value of each steem and their purchasing power. Imagine paying school fees. This month it's gonna be 120 Steem and next month it drops to 50 Steem. Then would we actually have a fluctuating income? At the moment it is still considered more of a commodity rather than a payment. If there are more payment and exchanges that would use Steem then the use of Steem would increase a lot. <\/p>","appCategory":"steem","app":"musing\/1.1","appParentAuthor":"ijoel","musingPostType":"answer","appTitle":"Will steem be accepted and recognized by the world community as a payment instrument such as USD?","musingAppVersion":"1.1"}"
`created`	2018-12-08 13:42:57
`last_update`	2018-12-08 13:42:57
`depth`	2
`children`	0
`net_rshares`	5,554,620,262
`last_payout`	2018-12-15 13:42:57
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`total_payout_value`	0.000 SBD
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`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 SBD
`percent_steem_dollars`	10,000
`author_curate_reward`	""

properties (23)vote details (5)

voter	rshares	pct
bulimbabitch	461,688,086	4.91%
igram	372,056,082	4.91%
reazuliqbal	2,991,899,913	3%
photocircle	902,762,676	2%
mixr	826,213,505	8%

@funtraveller · Dec 8 '18

$0.78

Question answered on Musing.io

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👍 musing, funtraveller, reazuliqbal, photocircle, mixr, bulimbabitch, igram, puwelwol

`post_id`	67,156,328
`author`	funtraveller
`permlink`	pkgdux9kq
`category`	musing-threads
`json_metadata`	"{"appParentPermlink":"pk9mkc9kw","musingAppId":"aU2p3C3a8N","appTags":["steem"],"appDepth":2,"appBody":"<p>In terms of transaction speed in comparison to BTC or other alt coins ~ Steem is by far one of the most efficient blockchain in the world of crypto. The 3 sec transaction speed is Steem's strong point aside from the fact it's highly scalable as well.<\/p><p>As good as it sounds, there is one thing that Steem is still lacking ~ that is the \"easy to use\" interface. Mainly because the current transaction system of Steem is not user friendly in comparison to the advance payment method that we currently have: \"apple pay\" - which is easy and secure as well.<\/p><p>Although, the \"transfer\" tool in Steem platform is secure, we can't ignore the fact that it isn't convenient to use. Until this concern is being address, I would think that Steem as payment system isn't there yet and still far to be claimed as an alternative to USD.<\/p>","appCategory":"steem","app":"musing\/1.1","appParentAuthor":"ijoel","musingPostType":"answer","appTitle":"Will steem be accepted and recognized by the world community as a payment instrument such as USD?","musingAppVersion":"1.1"}"
`created`	2018-12-08 14:35:00
`last_update`	2018-12-08 14:35:00
`depth`	2
`children`	0
`net_rshares`	1,277,950,015,221
`last_payout`	2018-12-15 14:35:00
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.593 SBD
`curator_payout_value`	0.186 SBD
`pending_payout_value`	0.000 SBD
`promoted`	0.000 SBD
`body_length`	79
`author_reputation`	155,676,200,050,373
`root_title`	"Musing Posts"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 SBD
`percent_steem_dollars`	10,000
`author_curate_reward`	""

properties (23)vote details (8)

voter	rshares	pct
funtraveller	10,164,514,085	1%
bulimbabitch	459,097,336	4.9%
igram	370,716,524	4.9%
reazuliqbal	2,985,951,774	3%
photocircle	2,331,983,772	5%
musing	1,260,815,417,187	3%
mixr	822,334,543	8%
puwelwol	0	5%

@cryptoandcoffee · Dec 8 '18

$0.02

Question answered on Musing.io

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👍 milky-concrete, reazuliqbal, foles09, worldfinances, mixr, igram, qong

`post_id`	67,158,457
`author`	cryptoandcoffee
`permlink`	fkytaq93q
`category`	musing-threads
`json_metadata`	"{"appParentPermlink":"pk9mkc9kw","musingAppId":"aU2p3C3a8N","appTags":["steem"],"appDepth":2,"appBody":"<p>Not right now but in the future I can see it being widely used. The volatile markets would be too risky right now for every day payments.<\/p>\n<p>The crypto markets need to stablalize first. getting rid of all the speculative coins with very little or no future. Trim out the rubbish and make it an option for serious investors first.<\/p>\n<p>I can see Steem being loaded on a payment card sometime in the future like a debit card. Some of the other less known currencies have debit cards already and Steem has a higher value than those. Steems quick transaction and no cost fees would be an advantage over most other coins.<\/p>","appCategory":"steem","app":"musing\/1.1","appParentAuthor":"ijoel","musingPostType":"answer","appTitle":"Will steem be accepted and recognized by the world community as a payment instrument such as USD?","musingAppVersion":"1.1"}"
`created`	2018-12-08 15:32:27
`last_update`	2018-12-08 15:32:27
`depth`	2
`children`	0
`net_rshares`	38,813,089,830
`last_payout`	2018-12-15 15:32:27
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.017 SBD
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`beneficiaries`	`[]`
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`percent_steem_dollars`	10,000
`author_curate_reward`	""

properties (23)vote details (7)

voter	rshares	pct
worldfinances	970,763,922	100%
foles09	1,904,486,345	5%
igram	367,906,440	4.88%
reazuliqbal	3,560,192,731	3%
mixr	808,461,192	8%
milky-concrete	31,201,279,200	55.88%
qong	0	5%

@worldfinances · Dec 8 '18

Question answered on Musing.io

<a href="https://musing.io/q/ijoel/pk9mkc9kw">View this answer on Musing.io</a>

👍 foles09, igram, ajnin

`post_id`	67,159,682
`author`	worldfinances
`permlink`	f3tu8q93q
`category`	musing-threads
`json_metadata`	"{"appParentPermlink":"pk9mkc9kw","musingAppId":"aU2p3C3a8N","appTags":["steem"],"appDepth":2,"appBody":"<p>With so high volatility, daily price changes up to 20%, steem is not ready to be a world payment instrument.  With lot of work and through the years.....possibly yes.<\/p>","appCategory":"steem","app":"musing\/1.1","appParentAuthor":"ijoel","musingPostType":"answer","appTitle":"Will steem be accepted and recognized by the world community as a payment instrument such as USD?","musingAppVersion":"1.1"}"
`created`	2018-12-08 16:10:36
`last_update`	2018-12-08 16:10:36
`depth`	2
`children`	0
`net_rshares`	2,247,631,683
`last_payout`	2018-12-15 16:10:36
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 SBD
`curator_payout_value`	0.000 SBD
`pending_payout_value`	0.000 SBD
`promoted`	0.000 SBD
`body_length`	79
`author_reputation`	10,391,223,038,351
`root_title`	"Musing Posts"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 SBD
`percent_steem_dollars`	10,000
`author_curate_reward`	""

properties (23)vote details (3)

voter	rshares	pct
foles09	1,884,884,966	5%
igram	362,746,717	4.84%
ajnin	0	5%

@prechyrukky · Dec 8 '18

$0.25

Question answered on Musing.io

<a href="https://musing.io/q/ijoel/pk9mkc9kw">View this answer on Musing.io</a>

👍 musing, foles09, bulimbabitch, fbook

`post_id`	67,161,501
`author`	prechyrukky
`permlink`	fkauvf9kq
`category`	musing-threads
`json_metadata`	"{"appParentPermlink":"pk9mkc9kw","musingAppId":"aU2p3C3a8N","appTags":["steem"],"appDepth":2,"appBody":"<p>Not just steem I do have same thought also if Crypto's will get accepted world wide as a legal means of exchange\/payment<\/p><p>The beauty and also the funny aspect of cryptocurrency is that it's so and very unpredictable. So I for one can't same steem will be use as a legal currency someday neither can I say it can't be use <\/p><p>Cryptocurrency is unpredictable <\/p><p>The world is unpredictable <\/p><p>The world is growing on a daily basis and the more people keeps getting enlightened on cryptocurrency so there is a chance steem might get to that stage <\/p><p>And if steem and other Crypto's will get there it got to be a more stable than the usual falling and rising up <\/p>","appCategory":"steem","app":"musing\/1.1","appParentAuthor":"ijoel","musingPostType":"answer","appTitle":"Will steem be accepted and recognized by the world community as a payment instrument such as USD?","musingAppVersion":"1.1"}"
`created`	2018-12-08 17:06:12
`last_update`	2018-12-08 17:06:12
`depth`	2
`children`	0
`net_rshares`	413,791,255,474
`last_payout`	2018-12-15 17:06:12
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.191 SBD
`curator_payout_value`	0.060 SBD
`pending_payout_value`	0.000 SBD
`promoted`	0.000 SBD
`body_length`	79
`author_reputation`	36,215,033,301,240
`root_title`	"Musing Posts"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 SBD
`percent_steem_dollars`	10,000
`author_curate_reward`	""

properties (23)vote details (4)

voter	rshares	pct
bulimbabitch	449,979,329	4.83%
foles09	1,820,780,595	5%
fbook	399,014,867	4.83%
musing	411,121,480,683	1%