Ignoring Steem "May Not Be Wise"
Huge News: In a London speech IMF's Christine Lagarde stated ignoring cryptocurrencies 'May Not Be Wise'.
Legrande personifying the IMF: shinning happy people holding hands ;-)
Her reasoning is sound. Having travelled to many countries around the world, the US dollar is still the de facto stable currency of note. Even in many developed nations. The Euro, Yuan and others have battle for that position, and with some of the insanity that's taken hold in US leadership of late, might just pop to the top. But why would the population of a foreign nation continue to embrace foreign fiat when as Legrande puts it "dollarization 2.0" takes hold.
Most importantly, (not saying the IMF is in any way a benevolent entity, but...) her statements don't strike me as selfinterested in the way than Diamond's have. This is not a play to crash the markets to get more stake.
Her one cautionary note is interesting, because it seems to me Steem doesn't suffer from a lot of these pitfalls as it's proof of stake so energy isn't as huge of an issue and already has proved to be highly scalable... Lagarde noted early in her speech that a mass adoption outcome is still a distant prospect, saying cryptocurrencies are "too volatile, too risky, too energy intensive, and because the underlying technologies are not yet scalable."
In terms of volitility... well a huge rise is likely inevitable, so call that pump volititiy if you like, but I'll just say: Steem On!
Thanks to @ericvancewalton for sending me the coindesk article to wake up to!
Yours in the Chain,
Doug
I am a Brooklyn based writer, film & commercial director, and crypto-enthusiast, my projects include @HardFork-series an upcoming narrative crypto-noir and my novel Dwelling will soon be premiering exclusively on Steemit, and you can check out more of my work at dougkarr.com, piefacepictures.com, and www.imdb.com/name/nm1512347
Please comment, up-vote and resteem and I'll gladly upvote your comments!
"dollarization 2.0"
How fitting right.
Haha, yeah, I liked that a lot.
I'm sure someone will come up with a better term.
Great link! Thanks for the share.
Also, you sound like an interesting cat. I'm following and look forwsrd to seeing more of you. I am an actor, stunt performer, metals stacker and crypto enthusiast out here in Vancouver BC.
Also, i am a partner in a bitcoin ATM (it sells litecoin too!) and we are growing our locations.
Viva Steemit & Viva le Revolution!
Cheers! from @thedamus
Cool! Come put a Crypto ATM in Williamsburg Brooklyn! I'll hit you up next time I'm in BC.
Awesome post!! Looking forward to your upcoming series !! upped and followed ! Keep up the great work !👍👍👍
Thanks so much @karenmckersie!! Appreciate it!
Your welcome @dougkarr ! 👍👍👍
Exactly on point! Great post, thanks for sharing.
Thanks @runicar!
Can't really wait to read your novel exclusively on steemit ;) also, I kinda agree that it's not wise to ignore the movement of cryptocurrency, and just yesterday ,I read similar news and it's refreshing, if more influential people started to look at it.
Thanks @macchiata! Much appreciated! Can't wait to hear your thoughts on the novel when it launches.
Christine LaGarde has always struck me as quite intelligent and well spoken. Thanks for this update.
(I just checked out your website - love your work!)
Thanks @gardenladay! Much appreciated.
I Love Amnesty International.
LOVE FOR ALL HATRED FOR NONE
I love them too, they do great work!
Ignoring a snorting bull would fall under the category of "May not be wise" , ignoring crypto currencies would be just plain ignorance, my opinion of course.
By the way Doug, I watch the link you gave , really enjoyed Ten... thanks.
Until next time,
@sultnpapper
This is a very good post and good point raised-upped. Steem will be a big surprise especially after the updates.
Thanks for writing this post which motivated me to write my latest post on how Steem will be EOS and Ethereum killer-I cited you there, pls feel free to see it. Wish you more success.
Hello fraind i follow u and upvote your top 3 post so you also follow back and upvote my top 3 post plez fraind...