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RE: One thing Satoshi Nakamoto underestimated was greed. We underestimate it too. Let's correct our mistake.
Interesting points, but once you understand Steem, you will realize that it stretches far beyond the points you put up, it uses the "human greed" and creates a connection between developers and the regular users.
On the new tokens thing, your probably right, most of those coins are indeed created for "pumb and dump" and only a few, really a few are "worth something".