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RE: My Journey of Disliking Digital Currency to Liking Cryptocurrency

in #cryptocurrency8 years ago

Wow, excellent! You have pretty much outlined my own thoughts about this aspect of life and reality.

Prior to my finding Steemit (about two weeks ago) my exposure to cryptocurrencies was limited to a basic awareness of Bitcoin, as an extension of a few of my nerdier acquaintances asking me if I were interested and wanted to invest. I could never get around their argument that fiat currency was based on "nothing" and central banks could just "print money" and that was BAD... and yet they were advocating a virtual currency based on? On? On? Turning on a computer?

I get that currency is merely a "a temporary store of value" that exists only because of widespread agreement that it's a store of value. It allows us to trade apples for carpentry... and that's a pretty nifty thing.

My primary hesitance around cryptocurrencies (aside from the legitimacy issue) has always been that they are "small." Meaning, what it to stop a virtual kabal in the tradition of the Koch Bros. from coming in and taking over "the system." The market cap of Bitcoin is about USD 16.5 billion, which is not very much in real world terms. Humans are opportunistic and greedy.

I, too, like Steemit because there's a tangible "thing" here, a longer term store of "something" to warrant the existence of Steem, as a currency. That's pretty cool. Am I merely showing myself to be "old" by finding that a positive? Maybe. But there's part of me that knows I can't "eat" dots and dashes... I need food.

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Thanks for the feedback. Indeed, they are small, but everything usually starts small then grows. The USD was small when it was only used by 13 states. Eventually it become the world currency. Influence factors in. How to get influence? People. Using transactions is one way to get influence. Using a site for social media and content creation backing a cryptocurrency, is another that is more visible, and impacts more of our attention bias and availability heuristics. STEEM has lots of potential.

Agreed, Steem has a lot of potential. Our task then (or so it would appear) is to be good stewards and nurturers of the goose that lays golden eggs, rather than allowing it to be raped to death.