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RE: Thoughts on the Price of Steem [video]

in #steem8 years ago

I love your calm demeanor and knowledge of cryptocurrency.

You explained everything quite rationally. Steemit is one of the first coins I've seen that has the ability to prevent people from drawing incredible sums of money and making the price jumps.

Am I correct that if the price of steem drops to .50 if you use a steem dollar it would buy 2 steem (basically a discount until the price rises)?

The amount of people who love steemit is one major difference than bitcoin. Bitcoin is still for crypto fanatics and people are skeptical. But my mom can post on social media and since you do not need to connect your bank account until you have made enough money to cash out, there is no risk. I've told people to make a separate bank account if they are leery.

I gotta get me some steem vests. I've been checking goodwill for secondhand ones.

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Wait, why do you even need a bank account for anything with Steemit? I thought the crypto is its own entity I can store in a wallet or trade for BTC.

You can absolutely just store it in a wallet or exchange for bitcoin, but for places where steem dollars and bitcoin are not accepted you can sell the bitcoin for fiat

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