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RE: So where does the value for Steem or bitcoin come from? What is the point of all this?
Well @wwf
You make a good point and lift some concerns we all have.
Taking Bitcoin as an example, it is heavilly overpriced in my opinion. Bitcoin is being used for something it isn't made to do. Bitcoin can't be a store of value, it was meant to be transacted.
However now we see the technical limitations as transaction prices go through the roof with all of the buzz around it.
It is beggining to lose grounds when facing the altcoins that compete with it.
It is therefore my opinion that Bitcoin will have its price falling fairly soon, unless the marketing people continue this endless shower of praise.
It is always important to ask - where does the value come from - and know if the assets really do bring value at all.
Nice post.
I don't think I have enough knowledge to even comment on what is happening to bitcoin. My gut tells me that people are fleeing the fiat currencies and like you said, using it for a storage of value rather than a tool for exchange. That in itself brings value to bitcoin. When the need for storage is over, that may be the time when it starts to drop. That or a catastrophic failure in the infrastructure of the cryptocurrency. I don't know enough about it to comment further. The value of fiat currencies are, in my opinion, deteriorating as a result of the exposed greed of bankers and the violence of the state. People are waking up to their abusive relationships and working to remedy the problems now. That will have an impact on any currencies that only exist as a result of coercion and force. Some of my friends here even speculate that the fiat currencies won't crash as the timely transition between the two take place. Time will tell. I think the analysis was interesting, but I will lean on my work living on the land rather than depending on the complex systems that the corporate / government empires have built.
And you do well... nature never depreciates... you know, unless they screw that too.
As a steward, I work hard to bring awareness so that those who do 'screw it up' are confronted so that we can change our views and relationships to bring prosperity for all, not just the rich few. But that shift is going to be uncomfortable for most. My message has not been a popular one over the last decade or more.
I quote this often:
Yup. Thank you!!!