RE: The Great Steem Debate: Berwick VS Sovryn - Steem Discussed for Hours on National Radio!
I found the show fairly one sided with a lot of skepticism against steemit and the cryptocurrency steem in general. The hosts were using the white paper as gospel and every time there was a delta such as the current price of SMD compared the the white paper states, they attacked it.
It is our belief that these rules will give market participants confidence that they are unlikely
lose money by holding SMD purchased at a price of $1.00. We fully expect there to be a
narrow trading range between $0.99 and $1.01 for SMD under most market conditions
There were many aspects of steem and steemit that they did not understand and unfortunately, there was no opposing debaters to challenge/help them. The few call-in's they brought on the air were cut off before they could make any corrections.
They say that any publicity is good publicity ... but without proper information, the public will remain weary of anything blockchain.
@gikitiki, thanks for the TL;DL :)
I'm just about to give it a listen but, from what you've said, it sounds like these folk are barely comfortable with Bitcoin and just aren't ready to accept yet another coin. Or they're just Bitcoin maximalists. People who don't like ground floor opportunities are weird...
Actually "these folk" have been long-time boosters of / evangelists for Bitcoin in particular and cryptocurrency in general, including the more leading edge stuff like blockchain tech as law, etc. There's a reason why their advertisers include entities like Jaxx, Shapeshift and Purse. That reason is that they spend a LOT of time talking about this stuff. The multiple segments on Steem weren't the exception, they're the rule.
Yep, I discovered Bitcoin listening to FTL back in 2010 or 2011 I think. That said: I had an especially hard time listening to this entire show, mainly because of Darryl. Oh man.
OK then, why does SMD trade in a 40-50% range... and not the projected 2% range (in terms of market spot prices which is what matters)? And why is the interest rate on SMD seemingly always stuck on 1% after several weeks of underpriced SMD (though I've never received any actual interest payments ever)?