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RE: Understanding Silent Risks and Uncertainty (A Non-Technical Essay For Speculators)
I've downloaded the PDF - holiday reading? I feeling is that the power-down period, in the long-term, is not significant. In the long-term, the success of STEEM will depend on it actually being used as a currency (or in some other way?). I think I am optimistic that this might happen, as for other altcoins. Bitcoin is like the gold - valuable but not useful for buying bread and coffee - but with these faster blockchains, and ways of simplifying transactions, grocery shopping with $coin should become more and more realistic.
Bitcoin is like the investment platform for other crypto projects so I'm sure it'll stay, maybe even turn like the gold-standard as you've mentioned. One thing good about cryptos like Bitcoin is known scarcity. For gold, never know when someone'd find another great stash lodged underneath the planet.. even the scarcity can be manipulated that way.. although the great thing is there isn't any reliance on electronics and such. However, for cryptos to become permanent and mainstay, IoTs would definitely pave the way.