I will keep this as brief as possible... Yeah, I promised Let's start from here.
You know, African history is quite interesting. So it happened, hundreds of years ago, there was a king ruling Mali called Mansa Musa (you can google him up to know more about him). The point is, he was so rich and wealthy! Anything wrong with that? No, of course!
However, in a certain year, he decided going on a pilgrimage journey to Mecca. He took along about 80,000 attendants carrying alot of gold dusts and gold bars. On his way to Mecca, he stopped off at Cairo and spent three months in the city, alongside his entourage, as guests to the Egyptian ruler.
However, being a 'good man', Mansa Musa kept handing out gold freely to residents. Cairo then was the world's largest gold market. Musa gave so much gold that the price of gold plummeted, and it crippled the Egyptian economy!!!
Now, after being told of this incident, a thought came to my mind (and I believe many would have had similar thoughts). We all are aware that digital currencies (including bitcoin, steemit) are making money move freely around. So, the question is: "Won't our economy be destroyed as a result of 'too much' money moving around?
But after a research, I was glad with what I saw:
The answer is NO! Bitcoin and the rest won’t create any new dollars or pounds - they are just commodities similar to stocks
I promised to keep this brief, right? I'm sticking to that. But let me hear your thoughts in the comments.