We won BTCC, BTFD, and Daniel isn't the karate kid: a contrarian's guide to today's pervasive thoughts.

I present to you three points that counter some of the common logic that I've heard recently. Many have presented BTCC as a loss, that the crash in crypto price is horrible, and somewhat off topic people believe Daniel is the hero of the Karate Kid movies.

Let's break those down

I have a sense of what you're going to say here. Technically speaking we lost the BTCC poll.

But look at those stats. ~76,000 people voted for Steemit! That's huge. That's 12-13x our weekly user base. It you gives you a sense of just how many people use this currency and like this platform. That's not even everyone. That's the people that knew about the contest, and those that aren't more invested in the other currencies. In the multiple rounds this platform beat out altcoins that have been around longer and have a pretty dedicated user base.

So, I'm aware we didn't come in first place, but not only did this place rally like crazy we also got some great exposure. We went through multiple rounds of voting, beat out other coins (and in that process got exposed to other coins), and when they run the contest again we'll be in a great spot to win! Which actually is a good segway to the next point!

BTFD

This is a trading term that translates to "Buy the Fucking Dip!" Crypto is going through an expansion. Lots of people called it a bubble, but that's not accurate. When the price of 1 BTC went above 1oz of Gold people started freaking out and rethinking crypto in their portfolio. Add to that US dollar printing reaches $160M a day while there's only of fraction of that per year for most of the major alt coins and investors start seeing powerful deflationary coins rather than inflation. More people started buying them and using them. Ultimately this is a good thing, and the price will steadily rise as a result. This is just a hiccup.

You've been told economies need inflation. If we don't have inflation things will be terrible. In this case it just means that the same amount of coins is being used by more people, but the same amount of goods and services are being created and traded, and so you need less coins to purchase it. That isn't bad if you already held the coins!!!

The bankers need inflation. They need it because they have leveraged themselves out 14-50x. If money deflates it means they have to pay back more than what they borrowed and then multiple that by how much they are leveraged. No, the mantra put out by the bankers publicists on the finance talk shows is in support of their decisions and not what is in our benefit.

Back in the day the price of a computer was like a $1M. It took up a whole room. Now it's a couple hundred dollars and the size of loaf of bread. Are you freaking out about that? Has that ruined your life? That's a deflationary trend, but like a lot of other deflationary trends it was actually good for consumers!!!

So, I'm not freaking out about the correction. People got worked up, bought too much for right this second, and the price came back down, but as long as there's an assload of inflation in government fiat and practically speaking none in crypto the value of my coins are going up while the value of my Fed Reserve Notes are declining!!! I'm going to buy more crypto.

The real Karate Kid

Finally, just to throw the last bit of sand in the eyes of those lamenting opposite viewpoints from that presented above I thought I'd leave you with this gem.

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