Exactly! That is why I am always saying that bitcoin is not creating value, and therefore it won't grow forever. Moreover, given its inefficiency and large fees it might even crash. Apparently this is hard to accept for many people...
You are viewing a single comment's thread from:
It isn't perfect and it won't grow forever, but it still does create value for a great number of people. Compared to banking service that are not even available, it is a great step up for a lot of Africans and Asians especially.
ok, but why wouldn't it get replaced by more modern systems that work much better and create more value?
It will though, I'm not saying it won't. Just not yet.
Great. I'm just a little worried about a big crash. I think the smaller the crash, the better for everyone. That's why I don't like all the hypes on bitcoin. But maybe I am overreacting.
No I agree. Makes no sense to hype it up.
I almost wished it would zig zag downwards earlier before it broke to the upside. That would have cooled some heads and put more community emphasiz on developement in coins with greater commodity and service value.
steem price going up is just a side effect of our success, investment from outside, bitcoin and crypto going up in general, AND te fact that steemit is about to start growig in users massivly as the work from home crowd on youtube figures out there is a new party and youtube channel is so ast decade!
Now its going to be a race to see who can monetize the most of their owncontent they already are posting on instagram! I have to remind myself to just keep posting canabis posts and poctures of my budget grow op that I fprget people like so much here and on instagram! remind peopel to most whatever is most popular for them on alltheir other social media accounts!
also the development of steemit will be crazy this year SO many new features, private accounts coming private wallets private transactions, propel will use steemit like a bank account! AND a blog AND a market we will eat ebays lunch when we launch a decentrlalzied market where every steemit account can have their own items for sale!
Well, I agree. But it's wide acceptance would keep it alive for a while. Most people I know use Bitcoin only for cashing out their other crypto coins. Thankfully Ethereum and Steem are not threading that path
One more thing: a crash of bitcoin might drag down all the other cryptocurrencies as well. This should be nothing to worry though... On the contrary, it might be a good opportunity to buy some more of your favourite.