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RE: What Experts are saying about STEEM and should we be worried?
Please note that Bitcoin needs 1M USD of fresh capital per day in order to survive - that's the current daily payout for miners. And Bitcoin has survived for over 8 years. Why can't those "experts" comprehend Steem can survive in the same way?
In other words: if they have doubts about Steem, those doubts might be valid but the same doubts need to be applied to Bitcoin.
Bit coin has been in the market for so long now but steem has just arrived. Bit coin has seen everything a 1000$/bitcoin to 14$ but it has been stable for so long now at around 400-600 mark, Cant say where steem will go from here up or down.
It's all true but the important thing is that the economic mechanism has been proved: an inflationary currency can survive and can even appreciate in value.
If Bitcoin can survive, so can Steem. It does not mean Steem will survive but it means it is plausible. So statements like STEEM CANT LAST are false.
We should just enjoy as long as it works or lasts
1 million for Bitcoin isn't big deal as its prices around 650$ per bit coin but steem is priced only 4$ that is huge I mean huge catch
We should be comparing market caps, not prices per unit.
Steem spends 10% of its market cap per year to reward posting and curation (plus other costs) which is comparable to what Bitcoin spends on mining. The economic mechanism is very similar, the real difference is where the inflationary funds end up: Steem redistributes them to content creators whereas Bitcoin burns electricity.
I m not that advanced user like you but knowledge you guys are giving here is immense and will prove very good for future.