RE: The Danger of Blockchain-as-Religion: Don’t Drink the Kool-Aid
I agree that 90% of all the money in SP is bullshit...I have though 99% of all my "liquid money" (not counting the value of my flat or anything in the flat if you know what i mean) in big variety of cryptos (probably out of belief in the technology)...I though at the same time am willing to lose it all cuz I don’t fucking care about money. So I will rather support systems that do in return support me, then those that restrict and control me. There might be time when I will need some fiat to function...and maybe not...who knows...anyway you are able to earn most of your money here because of those Blockchain purists/believers (because who the fuck would have millions of dollars in here otherwise??:D)...ever thought about that? By this logic whales are irrational (I highly doubt that most of them have their SP investment only as 1-8% of all their money)…so are they really? Or is it just that you have to “believe” whenever you invest into anything with long-term vision?
Do you have any evidence to support your claim that most crypto whales are putting 90+% of their net worth into digital tokens?
I dont think the best thing for steem is that people shold commit all of their savings to the blockchain. I think it is much better for Steemians to be financially diversified, perhaps making a big bet of 20-30% assets in SP but not putting all of their eggs in one basket.
Its not like I am advocating that people wasefully spend their cash. Just diversify across other cryptos at the very least, and probaby keep an absolute minimum of 25% of assets in fiat even for the hardcore purists just as a common sense hedge against the worst case scenario.
No evidence...As I said I only doubt that...or do you think that all the whales are overall super rich? It certainly can be possible that’s why I chose the words carefully:P.
Sure that’s pretty much what I said. It is a bet not to have almost any fiat now i admit...but fiat is losing value and crypto is gaining value for now so the bet is working well so far (and luckily I don’t need almost any fiat and will not need it in few upcoming years)...at one point it will be clever to pull a bit out of it that I admit too...or simply crypto will be generally accepted and we all could celebrate at that point:)