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RE: SBD / STEEM DOLLARS now worth nearly TEN US DOLLARS each, WTF?! 😱

in #steemit7 years ago

There are definitely some areas where he's a bit off, and certain aspects of cryptocurrency certainly apply. However, his historical assessments and "big picture" views tend to be spot on and highly insightful and enlightening. And while I do think he's mostly right on the government-related issues with crypto, such as described in his post "Bitcoin to be Declared a Financial Institution — Beware!" (at the end of the day, they still have all the guns and can do WTF they want)...

Link: Bitcoiners Beware – U.S. Customs Agents Are Coercing for Mobile Passwords

... other points he makes seem to be a bit off, such as this one:

So what is the big thing about cryptocurrencies? The idea is that it is money that will not depreciate and is strangely not “fiat.” Yet, it is no different than the electronic money created by the bank, which is also outside the strict domain of government. <-- except that "electric money" could easily be confiscated (aka "frozen") by the bank on behalf of the government for any number of potential "issues".

Link: Is Cryptocurrency a Government Plot?