For me it's a case of why haven't more people realised just how valuable Bitcoin is?
It has scarcity, it cannot be counterfeited, it has adoption by a small but rapidly growing user-base , it cannot be minted without time and money and there's a set limit of how many coins there can be.
Compare it to any fiat and it wins hands down. But anything we give value to can change when panic sets in BTC is prone to that because it's still relatively new and people are constantly asking this very question.
As to the last point, I'm hoping Steemit can pay for preamps and mics so I can record an album I've written, might take a while though...
Hey there @Purpleprose. Thank you both for your up-vote as well as the excellent comment.
Those are very good points. :c)
Not being able to be counterfeited is a big plus.
I am not so sure about scarcity - though I understand that demand versus supply is a thing.
If I am not mistaken Bitcoin exchanges involve a fee. Where does that fee go?
I'm not knocking Bitcoin but I do find my lack of understanding of Bitcoin to be disturbing.
Oh yes. Steemit is hardly a get rich quick scheme. At least not for us regular folks. And to a point that isn't bad. That being said, the disparity is real.
And that being said, every little bit helps.
I do hope that you'll make it for your preamps and mics.
Perhaps you could make an appeal to fellow artists on Steemit? Perhaps get into a collaboration that will get you access to that equipment sooner - in exchange for your assistance with something else?
There is more than one path to one's destination. :c)
Thank you again for your thoughtful comment and everything else!
Some of the fee goes to miners who confirm the transaction ( TX fee when you withdraw) but the currency exchange fee goes to the exchange itself.
Thank you for clarifying @purpleprose. :c)