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RE: It's DOWN - DON"T Sell, Buy Them Now!

in #life7 years ago (edited)

I always like to think of money in terms of what is the effort and time involved to make it available. Bitcoin is limited as to the amount or volume available at any time.
"Created out of thin air" is sometimes the complaint.
Not true in most instances. Right now, huge and large numbers of fiat and machines are being utilized to mine the coins. It is very far from being free.
Similar to Steem.
An untold number of hours and dollars are being spent to create the content, recorded in every detail on Steemit. The value here that we see and read everyday has great value. Steem is backed by this value.
Your projections for some or all of the cryptos, will likely be right. The fiat currencies are dying. It may not seem to be happening to a casual observer, but dying they are. Only a true replacement of value will survive.
jmht

Francis

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