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RE: STEEM As Money? STEEM Has Something No Other Cryptocurrency Has....
Try to withdraw a bigger sum of money from your bank. Or to send some money to a different continent.
Try to withdraw a bigger sum of money from your bank. Or to send some money to a different continent.
Those are two great points.
I imagine getting more than $10K cash out of a bank on a given day is not possible. And if you want $50K, cash, call ahead.
The other continent is something few like to discuss. I guess because so few of us actually deal with overseas money personally. However, in talking to people in the US who are from other countries, it is a nightmare (and expensive) for them to send money home.
It will be interesting to see how this all plays out. STEEM has attributes that make it very attractive...it is just a matter if the general public eventually picks up on it.
Surely less than 3 months required for SP.
The 3 days required for SBD are a different question, but still we have to consider that SBD are broad money, non narrow money. For everyday needs, you anyway have to hold some liquid STEEMS. So, this is a very hard question to analyze....
The main benefit of SP is that protect you from making stupid moves while listening to mum's basement crypto experts with no skin in the game. At least that's the way working for me. Besides rewards, of course.
I perfectly agree. Slow cashing time seems to be a great thing to give stability to steem network - although it cannot control market volumes and it cannot completley bring down the steem supply in the market, particulary in moments of panic selling on exchanges.
It protects you from doing some stupid things and forces you to adopt a long-term vision, that is very important for the evolution of steemit network.
We also have to consider that the utility of steem power to get new cash flow by using influence and upvotes gives the possibility to calculate the fundamental value of a STEEM token, that is very important to create the theoric possibility of a market stabilization near to this theoric value.
I was simply pointing out that you cannot consider Steem Power as money, because its concept is very different from easily-available payment instrument. It is something different, more similar to a form of medium-long term investment/(maybe)store of value
Great comment....you are correct.
Too many believe what the talking heads on TV (who have no idea what cryptocurrencies are all about) are saying and follow what they say.
It is really sad.
And part of the reason I am torn by the elite versus the populous. While I cant defend the elite, the average Joe simply makes it too easy for them because he fails to pay attention to anything that is going on and believe what is on TV.