As everyone knows by now, Poloniex has opened up withdrawals and deposits again. I checked out their wallet on Steemit and about 2-3 million STEEM has already left the exchange. I would recommend you get it off there if you want to power it up or sell it.
I got a lot of comments on a previous post about all the negative things financial people say about cryptocurrencies. Some are wondering why they fear it so much.
I think it has to do with the fact that not many people know how money is created. Which is funny because it's one of the most important tools we use for trading. I was never taught where it comes from (or maybe I wasn't paying attention) as far as I know.
Where you? I was really wondering about that. Would love to read the comments.
I know now that banks have the power to create money through loans with interest. And of course, we need them to make financial transactions for which they charge a fee.
Why are cryptocurrencies a threat:
Cryptocurrencies make it possible to do transactions anywhere in the world without a third party and they can't be created out of thin air.
I talk about it more in my vlog. (from @ 3:10)
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