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RE: Lightmech

in #art7 years ago (edited)

It takes time to power down and cash out your Steem Power, but from what I understand Steem and Steem Dollars are liquid on the cryptomarket. It keeps all the "whales" from being able to pump & dump and actually makes the platform more stable by not being able to take out Steem Power all at once and making it a bit of a pain and a long process. The more I learn acout cryptos the more I see in common with regular currencies. Where does the value come from? People agree it has value, that's about it... HOw come you can't cash out all the coins on one place? It's like foreign currencies, most will take American $, Euros and maybe Pounds and Yen, but go with Nicaraguan Cordobas or Thai Bhat and you can;t change those just anywhere.. I used to collect world coins. There;s tons of currencies that don;t exist anymore and are worthless now, countries that don;t exist anymore or have been taken over and are part of other countries now etc.. Money's kinda weird any way you look at it lol

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Right, and with cryptocurrency being a speculative market with no gold as backup or anything makes it a little problematic but we'll figure it out as we go.

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