The Majority of People Think Steem is a Ponzy Scheme

The Steem blockchain has two tokens: STEEM and Steem Dollars. There is also a vested or stored interest known as Steem Power. STEEM is the fundamental unit while the two others derive their value from the value of STEEM. The idea here is not to keep your STEEM in their cryptocurrency form but to use them to buy Steem Dollars, Steem Power or convert them into Bitcoins. Steem Dollars are pegged to the U.S. Dollar. When the content of the writes becomes popular, 50% of their pay per post is in Steem Dollars while the rest is in Steem Power units. Steem Power Units are a long-term investment as holding them entitles you to a proportionate ownership in the network. When you buy a Steem Power unit you cannot sell it for 13 weeks. This tactic aims to prevent people from dumping their units on the market and crashing the price.

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