Could Steemit STEEM And SBD "Survive" If BTC Fails?
Hello everyone, my name is Edwin and today we are going to talk about Steemit, STEEM and SBD and could they survive if the king himself falls, BTC. This is something I wanted to talk about for a while and I think that this is an important discussion to have for the betterment of our community.
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There is no way we could protect any altcoin or Steem/SBD from BTC volatility. They move in price as BTC is a main point of entry/exit for any cryptos. To buy any coin you will most likely go through BTC first and that's why it has such a big impact on alts when its price changes.
You are right. But I do think that for the betterment and the future of Steemit and other cryptocurrencies in the long run I think that it would be the best case scenario if they don´t depend on BTC as much as they do. If everyday Joe gets scared of the price changes I don´t think that he will stay on Steemit for a long time.
I know, but as long as BTC is the main pair at most crypto exchanges it will be like that. IMO it's intentional so that they can easily move the prices over the whole market. 1000 flies with 1 hit :)
The problem is that our STEEM currency is so much dependent on BTC. Series of conversions actually makes it more dependent. I can't even imagine what it would look like if BTC fails. It's time we started using our own currencies for what we want. If STEEM can stand alone with being converted before use, apart from the fact that it use would be elevated, its value will increase. It's so smart of you bringing up this topic @edwinbeutti
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Dont lick assess just to get upvoted man... I would much much more prefeer if you actually gave any opinion on my video. I see that you are spamming with these type of comments allways. Don´t do that.
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