The difference between currency and money - Learning this one SUBTLE difference will CHANGE YOUR LIFE FOREVER.
This is going to be a really short post, because I don't want to bore the hell out of you.
Money and currency are terms that are used interchangeably in modern society. But in reality, their differences cannot be greater.
So, which one's which?
As the above diagram shows, money and currency have the exact same functions. Divisibility, fungibility, durability, portability, interchangeability. Whatever.
The major difference is in the long term store of value.
This is why fiat currency isn't money, guys. Fiat currency is currency. It doesn't retain purchasing power in the long term.
In my opinion, gold is the money of the past. Silver too. In a few decades time, the next generation money will be cryptocurrencies, such as Steem.
If you hold any form of fiat currency - I suggest converting it into Steem right now. Even if Steem crashes - which I don't think it will, at all, it will outperform fiat currency in the long term.
Think about this @jholdsworthy , right now there are 40 MILLIOIN REDDIT user accounts, earning absolutely NOTHING. STEEMIT.COM has around 50k user accounts. So if STEEMIT were to grow by 10x, it would only have 500,000 user accounts. At 20x growth 1Million accounts. Makes you wonder what the price of STEEM would be at this point. I don't think it will be zero!
Full $teem Ahead!
@streetstyle
I beg your pardon but, this recent screenshot* from SteemWhales.com purports 21,809 "steemians" currently. Why the difference?
*
That shows how many steemit users it is tracking, not how many user account there actually are on STEEMIT.COM. Go to www.steemd.com and see there are the most recent information that pertains to steemit.com. Not sure what happened, but I thought earlier steemit was closer to 50k user accounts, right now it shows 47.6K user accounts. Weird. But still close to 50k.
Indeed Steemit.com does say:
registered_accounts
47,702
47,702 definitely IS in the ballpark. Thanks for the clarification!
The future is one of cryptocurrency. No doubt about it. The only thing to see is when this becomes a reality.
I not BELIEVE in the future of crypto currencies,
I AM SURE
Yeah, let's face it, we can't trust any government. I have been turning a portion of my monthly salary into BTC now for a few months and will continue to do so. I see it as the only long term stire of value in these rocky economic times.
I believe that the future of cryptocurrency! Manipulate they can! DAO - recently proved that sometimes the majority can win ... So it is not known what will happen in the future.
The last part is untrue, very easy to manipulate cryptos lol
They can't be manipulated in the sense of supply of cryptocurrencies. When the market caps are small, obviously the prices can be manipulated.
I've doing this for a while, every penny i get, i turn it to btc. Since i live in Venezuela, cryptocurrencies are the only way to protect my income. Now im here earning some Steem, and turning it into steem power, for me its like a safebox
You had me till the end. Crypto currencies "CAN" be manipulated.