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RE: STEEMIT - The Economic System and Where the MONEY COMES FROM?!
Great article!
This is what I agree with:
Money comes from speculators and investors. This is same way as with gold.
But here is why you can't compare gold to STEEM:
- Gold supply is not infinite, it is limited - it is much harder/slower to mine.
- Gold has already established trust and has a long history of having high value. It is widely accepted.
- STEEM value is still in the phase of pure speculation
STEEM needs to establish trust first. Then it can rely on speculations. All whales powering down is not a great way to establish long term trust. Imagine everyone who is holding considerable amounts of gold dumping their gold every week - I wonder what it would do to the price of gold.
Good points @deepbits. The mining of Steem needs a better understanding especially with market understanding around supply and demand economics.