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RE: Trace Mayer defects from bitcoin to steem

in #bitcoin8 years ago (edited)

I agree that BTC will never go to the moon and drop in price but for different reasons:

  1. Miners must sell to pay for their costs (most mining is now industrial scale - difficulty is way too high for hobby mining)
  2. Money that goes into new bitcoins and pays for the mining costs, has to come from somewhere. Where will it come from? Not enough money coming in and the price will drop like a rock.
  3. Bitcoin has it's fame and religious following that will keep it at float for a while, but not indefinitely. Improved blockchains, with real use cases, are already on the market, like Steem.

Regular people will put their money into steemit.com if and when they use it few dollars here, few there and it will add up. This is mainly waiting for a solution, where people can use their credit cards to directly buy steem/steem power/steem dollars - nobody really wants to play with bitcoin wallets.

I converted almost all my bitcoins into SP :)

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