What this elliptic minded guy are mere smear campaign to atleast deraged steem newbies to think it over before jumping thoroughly into steem. He is always right that everyone should be cautious in every investments that we are doing, pointing to "bag holders" dont know exactly what he means about. Every coins/token or cryptos have these bag holder, they are many. Any coins can be a victim of these bag holders, but as the community grows, and the wealth of each member increases, there are balancing factor that will push the currency on stability and viability coupled with trust and long standing commitment to projects of many good people.
I believe in steem, I will stick to steemit.
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