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RE: Steem Dollars have Limits

in #steemit8 years ago

While some of the thing you discuss go over my head, I do appreciate the pieces that I do understand.

While some aspects will need to be tweaked in the future, something I had no real grasp of (the 3 steem "currencies") made much more sense as I continued posting on steemit.

The ability to have steem power held long term keeps the value from plummeting when if a user were to just immediately try to pull out their millions of dollars.

steem is just a liquid token and steem dollars helps hedge against volatility also if steems proce were to drop to .50 you would get 2 steem. It's brilliant (hopefully I have the idea correct as I am no economist and others are far more qualified to speak about exactly how all three work).

I am becoming increasingly aware of the state of our fiat money and am convinced that unless it is overhauled, it will cease to have value. Not knowing how much money is in circulation has started to put up red flags (yes I am downvoting our banking sytem and hope @berniesanders will join me as he likes to be a trailblazer).

I don't know where steemit will be in a year or even ten minutes from now, but I honestly have more trust in you and @ned than I do in our government/banking debacle.