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RE: The World of Cryptocurrency - Segwit 2X
I read it was on, then it was off, then it was partly on (some people only)
so I'm confused!
But if it is off, then I wonder about the movement of money back to ALT coins?
Dont worry you are not alone who is confused Lol:)
I guess mushrooms are never alone :-)
I just checked and STEEM seems to have stopped falling.....
maybe a slight increase. next few days could hopefully see it back to $1 +
Hopefully steem will regain its ground. :)
Unlike BTC I think steem actually has 'value'
eg Steem represents something ie a media platform.
or ripple is a way for banks to exchange value etc
OTOH I cannot see any real value in BTC, it's just a coin that someone says has value
and it is 'famous'.
So in time I think 'value' will head back to ALT coins (maybe now that 2X is off?)
But I'm not sure bumping the value of steem ATM is a great idea.
A lot might cash out? is that good or bad?
so many variables :-)
Steem is designed to remain as close to the US$ as possible over the long run in order to maintain a sense of certainty.
So it's not a growth investment crypto wise?
I'm better to move steem into BTC or LTC or XRP or something if I want capital growth?
What happens if / when Steem goes from 400K to say 4M or 40M users?
What do you think might happen to Steem values vs US$
It's not a growth investment mate. Steem Dollars are pegged to the US$ because they're basically an "I owe you $1" contract. So it doesn't matter how many there are, they will also be worth about US$1. The only reason the price varies at all is because some people want their US$s faster than others.
If you still don't understand, this might help:
If you want capital growth you are definitely better offer with other coins. But if you already have at least €50 worth of BTC and want some easy capital growth let me know and I'll post a link for you.
Steem Dollars and Steem are two different coins. Steem Dollars being pegged to $1 helps when Steem drops below $1.
Thanks for the video, great explanation.
So selling my SBD, for "steem" I'm not 100% clear on, but I gather this is an intermediate step/ way to trade for BTC or XRP or increase my voting/earning abilities with steem power etc.
But I have an other Q. if I can.
At the moment US$ relative to say gold (just as a benchmark) is worth $X / oz
and now hyper inflation hits the USA - due to the USA massive debts
So a loaf of bread in the USA now costs US $1000 instead of current $1
On the open market my 1SBD = 1 US$ are worth a whole lot more, (eg x1000 more!) correct?
So what I (as a steemian) want is for the US $ to crash & become worthless on the world market, and I'd be rich.
So in some ways SBD is a 'hedge' against a failing US dollar.
Did I explain that OK? am I correct?
You're welcome mate. You're welcome to ask as many questions as you like but I'm no expert either. However SBDs are in now way a failsafe against US$ falling. Quite the opposite. SBD relies upon the US$ being strong in order to be worth anything.
If the US$ were to rapidly tumble then the relative value of SBD would tumble right along with it. So if a loaf of bread costs US$1000 then you'll need 1000SBD to buy a loaf of bread. Then rise and fall together. So if the US$ goes skydiving, then SBD goes tandom, which means we'd all be broke. Get it?
If you're interested, you can trade both steem and steem dollars for a variety of cryptocurrencies on Poloniex. I'd say increasing your voting/earning abilities is really the only point in having steem power.
Also, if you have any BTC you want invested by pro's who'll grow it for you at a tiny fee, may I recommend this mob:
https://mra.usitech-int.com/
(Don't forget to bookmark it.)
Thanks for thoughts re US$ + SBD being that co-joined.
But I do wonder about Steem vs SBD are they just as co-joined?
ie can steem become 'valuable' while SBD is not?
if so I'm better hodl steem (or SP) rather than SBD?
If I'm wrong & all are tied to US$ on an almost parity basis, then I'm concerned.
ie My gut is telling me a 1929 rerun is just around the corner
(in fact worse that '29 due to computer trading speeds)
I looked at poloniex, but USA only ATM I think and they want verification anyhow.
I don't have any crypto to trade ATM so it can wait, in fact
I'll wait until more crypto-zombies are awoken & I'll get an anon trading account.
I hate gov / banks / exchanges having private info.
Nothing to hide, but big brother privacy has value to me.
Thanks for link, book marked.
Nope. You are confusing Steem to SBD (Steem Dollars). SBD is tied to the USD for stability. Steem is free to move in either direction. It however has an unlimited supply and thus, inflation % is high causing the value of steem to decrease yearly. The rise in value of steem will depend on usability and a sharp increase in demand of the cryptocurrency along with a few other things.
Thank you for clarifying that.