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RE: Oompa Loompa Now: The coming Apocalypse

in #philosophy7 years ago (edited)
Having an awfully nice but dim moment here!

Please explain further:

... Anyone who only powers up on Steem is not exactly at the extreme deferred gratification end of the spectrum...

And ~ life is a gamble and, to my mind, it is this that holds my interest! :)

By investing in Steem, an investor takes a big risk in exchange for big and relatively quick potential gains. By investing in something utterly boring, steady, predictable and unsexy on the stockmarket an investor can have the same gains with less risk but over a much longer time, that is, demonstrating a stronger tendency toward delayed gratification than the Steem investor.

At this time, the valuation of STEEM the cryptocurrency is based on future expectations alone. There is no external revenue stream of any kind. Nobody is buying STEEM to gain a financial benefit from the attention of crowds using the services built on top of the Steem blockchain at the moment. This is like investing in an early stage technology startup. It is a very risky thing to do especially if one does not practically have any control over how the business is run (no minnow has and only a handful of the biggest whales who work for Steemit Inc. have).

I keep powering up with most of what I earn here but with full awareness of the risk. If I weren't blogging here, I'd be blogging somewhere else with no actual or potential financial benefit to myself whatsoever, so the loss isn't that big in any case.

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Thanks ~ that's kinda what I thought you meant but I wasn't quite sure :)

Most appreciated.

xox

As the saying goes: She who asks a question is a fool for five minutes; she who does not ask a question remains a fool forever.