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RE: From Bitcoin bubble to STEEM breeze by Craig Grant (STEEM report) - August 15, 2016
Don't get me wrong I think Bitcoin is still interesting and other currencies are interesting to me but I feel that there are a lot of things limiting Bitcoin right now. If it forks like Ethereum I feel it will be a big confusing mess for people wanting to enter this space.
bitcoin is ridiculous in terms of sound money. Its new technology and a means to exchange only therefore all these crypto currencies should really be free to use and are in fact utterly worthless. No different to pogs or something else. The idea of limited gives it more value, true it does but i can write something and say its the only one in existence but it doesn't mean it has any value. The money behind bitcoin just pushes this tech forward much faster in terms of development and this is the same thing that brings anything to the for front in society is a need or a problem to overcome. There is a real need for bitcoin right now for many reasons within society. People are protecting there wealth with bitcoin right now against fiat debasement for example. It gives everyone with computer access a free bank account. Money is simply a faith or a belief that everyone mutually accepts. I believe bitcoin was invented out of necessity and not just for fun. The only skeptical part in me thinks it might have been introduced by bankers to keep a lid on the gold market as all currencies across the globe go back to there intrinsic value.