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RE: Steem is at it's lowest price since Feb 2017 and Ethereum faces turbulence
it hurts to see the rate of steem these days but these are the buying days of steem and many people are buying steem ... its power up time 😍
I agree. When things get cheap this is when dollar cost averaging pays off. People who are doing dollar cost averaging can win right now. People who are thinking that crypto is dead or can't go up anymore are the ones who might be in FOMO if there is another bull run. The whole point is to buy low and sell high when it comes to assets.
Vitalik did have a point that we need real utility. The problem is the infrastructure for that to happen on Ethereum is incomplete. We don't have Casper. We don't have sharding. So what utility is even possible with such a rudimentary network? There isn't even the case that Ethereum is a store of value and the ICO hype has whittled down.
Tokens like Digix? That is a store of value. Securities tokens could also become a store of value. I do not think Bitcoin or Ethereum are stores of value. People buy them because they tend to go up due to bubbles. Speculation bubbles don't change the fact that in Bitcoin new tokens get created by miners daily and the same too with Ethereum.
Companies have to profit. They are good assets because companies grow. Ethereum doesn't profit and even if it offers utility at some point it does not mean people will want to hold an inflating token supply.