RE: Is Bitcoin a Ponzi too? A Simple Explanation about Where Does Money Come From for Dummies
No point of saying that here man, they are not interested in giving you actual answers. There's no need to complicate things.
Any smart trader (the ones who are actually supporting Steem price, if you call that support...) knows Steem won't appreciate in price, quite the contrary, its inflation is crazy as you mentioned. The solution they give you is to power up. The problem is that with SP investors think they are gaining "interest" but SP is just diluting their initial investment slower. So what's the point of investing in Steem? There's no point, you will most likely lose a lot of money unless you are a very active participant or an early bird/founder.
That's the real dumb math many here still fail to understand.
If you get SP and SBD from the site that's fine and all. But as a long term investment is one of the most ridiculous thing I've ever seen in crypto and I've seen a lot. I do enjoy the platform for what it is and there are many great content creators though.
Exactly!!!
Clearly you have forgotten what you've seen. Bitcoin after, 6 months of existence, was in a very similar position: people burning electricity like crazy and some "stupid" investors happily paying for this.
How that worked out for them? I agree with you though...I wasn't involved with Bitcoin at that time (2011) but I know many were just having fun and trying mining for the first time, that's it. A bunch of nerds playing around if you will. We'll not get into technicalities or even fundamentals on why Bitcoin is what it is today.
Investing in Bitcoin at that time was crazy indeed, and definitely not something a "smart trader" will do either. There were a lot of doubts and questions to say the least and so far most of the mainstream population still don't know how it even works.
Steem on the other hand for me and many others is actually pretty clear. At least how it currently works. But they are hard forking weekly so maybe next month we have a different system and I could see the value of locking SP for 2 years. Or maybe not since they could change it back in the next month.