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RE: My journey from Bitcoin to Ethereum to Steem and why I believe I ended up on the best one
I don't understand Steem. Is it not supposed to be pegged to USD at 1:1 ratio? Please someone explain to me how it could go up to the thousands? For now I'm buying Ethereum based on my technical analysis.
https://steemit.com/ethereum/@freedomvigilante/it-s-today-the-time-to-buy-ethereum-technical-analysis-25-june-2017
Follow me and I'll follow you also ;)
@freedomvigilante Steem Dollars are pegged to the USD, regular Steem is not pegged to anything. When you convert Steem Dollars to Steem you will get the same amount in USD. Keep in mind it's a loose peg, I think it's averaged over a period of a few days.
I new to Steem as well, and this is my understanding of the valuation of 1/1. With this knowledge I bought some at $2/1 just to tinker with the technology, and here I am exploring...
It seems to me if this platform is to keep homeostasis at 1:1, the one's profiting were mining last year (or prior >$1 valuation) or is a successful author... I am still feeling these rooms out...