BTCC announced they are ceasing all trading on 9/30 per the Chinese government's direction.
.jpg)
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Congratulations @mynewsteemit! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It is also important to point out that the crypto-economy involves many competing currencies, so we are dealing with a fundamentally different beast than national economies that rely on a single currency. Because anyone is free to print their own money in the crypto-economy, it is vital that the base currencies be deflationary.
In fiat systems, you want a small amount of inflation to encourage lending and discourage loan defaults. When banks lend money, they do so by "printing" new money into existence. What prevents the system from spiraling into hyper-inflation is that money is destroyed when people repay their debts. Because there is always more debt in existence than money (since debt = money + interest) there has to be a constant rate of inflation to allow there to always be enough money to repay the debts.
In the crypto-economy, by contrast, new money is printed into existence without usually having a way of being destroyed. This problem is obviated by the fact that new money usually comes in the form of new types of currencies, it isn't a printing of existing currencies. If someone wishes to print new money, for instance, they must create a new token, give it a new name, and sell it (e.g., through an ICO). The money supply of existing currencies isn't being affected by the expansion of the money supply in the crypto-economy.
What this means is that the crypto-economy itself must discourage over-exuberance since there is no risk involved in creating one's own currency. That discouragement comes from the fact that established currencies are deflationary, and therefore new projects must be able to prove that they can outperform existing platforms. Because the crypto-economy is a competitive free-market, competition between currencies makes it so that monetary policy from a single institution aimed at artificially recreating the conditions of a free market is not required.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
damn, another one. i stil lfeel as this is all a game and china will eventually pull a aprils fools
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I wonder if they are just picking a few winners, all others get shuttered.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Disclaimer: I am just a bot trying to be helpful.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
what is going on huhhh market totally in red due to china decision
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @mynewsteemit! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @mynewsteemit! You have received a personal award!
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Home stretch to the finals. Do not miss them!
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Your level lowered and you are now a Red Fish!
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @mynewsteemit! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit