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RE: Cryptocurrency Is The Opportunity Of A Lifetime And STEEM Is The Model Going Forward
I think giving that advice to his friend would be dangerous. Since his friend is not yet comfortable with cryptocurrency, he will overly watch and stress about their performance. He will call taskmaster, asking him what he should do, and probably end up selling in a panic instead of HODL-ing on. I think @taskmaster4450 is probably doing all he can at this point to help his friend learn about and become comfortable with cryptos. Maybe his friend should just join Steemit and learn what we're all about!
You are right @michaelluchies.
I just tell him what is happening and my perspective (basically what I write on here). I am not going to take responsibility for his investments....he wants to stay "mainstream" through the typical financial avenues, that is his business. I cant help that.
I believe cryptos are the right way to really maximize on the blockchain revolution...although, as I wrote the other day, I do believe Wall Street will really bubble any stock tied to blockchain over the next couple years....it is there we will see a repeat from 1998-2001....
On that end, my buddy might do well.
True. Any exchanges going down permanently and getting gox'd in this day and age would be a big I told you so moment for those who were skeptical of why prices were going up. There are a lot of scenarios that are possible for this type of event, or multiple of its kind, to play out. Lol tether. There is still the chance that steem and steem bucks are subject to manipulation in the market that other coins are prone to, and that they will fall in tandem with other coins, junk or not. Everything will get painted with the same brush if there is a rush out of alt coins and crypto in general, as only a few of the coins can be traded for fiat.
Long term I think a few issues with how money flows in the steemit economy need to be addressed for it to be seen as a serious currency option. Growth potential is very strong here considering how small the community is so far, and it's the only social media option I know of with the payment structure right here on the site itself which can nearly guarantee its dominance in lots of countries with current low wages but high future economic potential (Like Africa, Southeast Asia, South Asia, etc.)