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RE: One Third Of All STEEM Is Traded For Fiat, Not Bitcoin - A Potential Decoupling Of The Asset From BTC

in #steemit • 6 years ago

So you are saying Steem is going to compete to BTC on its own?
that what i can understand after reading your post.

6 years ago in #steemit by
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     6 years ago 

    He is saying that the price of Steem is kind of independent from Bitcoin compared to most other cryptos.

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     6 years ago 

    So variation in bitcoin price will not effect steem price much?

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     6 years ago 

    That's right. But keep in mind that only 1/3rd of Steem is traded to fiat, so BTC and other cryptos will still have a lot to say about the price. Just not as much as with other altcoins.

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