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RE: STEEM As Money? STEEM Has Something No Other Cryptocurrency Has....
The main benefit of SP is that protect you from making stupid moves while listening to mum's basement crypto experts with no skin in the game. At least that's the way working for me. Besides rewards, of course.
I perfectly agree. Slow cashing time seems to be a great thing to give stability to steem network - although it cannot control market volumes and it cannot completley bring down the steem supply in the market, particulary in moments of panic selling on exchanges.
It protects you from doing some stupid things and forces you to adopt a long-term vision, that is very important for the evolution of steemit network.
We also have to consider that the utility of steem power to get new cash flow by using influence and upvotes gives the possibility to calculate the fundamental value of a STEEM token, that is very important to create the theoric possibility of a market stabilization near to this theoric value.
I was simply pointing out that you cannot consider Steem Power as money, because its concept is very different from easily-available payment instrument. It is something different, more similar to a form of medium-long term investment/(maybe)store of value
Great comment....you are correct.
Too many believe what the talking heads on TV (who have no idea what cryptocurrencies are all about) are saying and follow what they say.
It is really sad.
And part of the reason I am torn by the elite versus the populous. While I cant defend the elite, the average Joe simply makes it too easy for them because he fails to pay attention to anything that is going on and believe what is on TV.