RE: Steem And The Crypto Winter - I Am Not Going Anywhere
As soon as I saw all mainstream media telling everyone that blockchain was a fad that was not going to amount to anything, I noticed it began this recent dip. Also, the instigating event that dropped crypto values to their current level was a crypto-miner in South Korea that was hacked. And in that hack several million dollars of some obscure cryptocoin was stolen. I do not remember the name of was stolen.
And the mainstream media ran with the story as if Bitcoin was stolen. From that piece of dishonest journalism, we went from $7+ Steem and almost $20K Bitcoin to where we are now. Granted, it is ramping up again, so I am very appreciative of your attitude as it is also mine. I am not giving up.
One of the things that I think will allow crypto to flourish worldwide actually happened in the USA recently. That was Trump signing the Farm Bill that legalized the cultivation and selling of Hemp. Hemp was outlawed in 1937 just 8 years into the Great Depression. And, as we can look at history now, we all know the Great Depression was created by the central banking cartel known as the Federal Reserve.
The reason Hemp was made illegal was that , in the USA's Southern states, hemp was being grown so successfully it was negating the efforts of the central bank to depress their economy. Fuel, plastics, fiber, and textiles were being made from this plant. And also the latest discovery is CBD oil for a host of medical conditions has made hemp the new cash crop in the USA. Also, it's grow cycle is somewhere between 3-4 months. And that amount of natural easily replenishing resource works against central bankings model of scarcity.
The reason this will help crypto, is this new law allows growers in the USA to produce enough resources, (fuel included), to offset the petro-dollar ruled world economy. And of course crypto is perfectly poised to step right in and fill a need for world commerce. And looking at Steem, imho, as it is tied to a real service and community, I feel the valuation will go up drastically in the next year.