On which platforms can Steem (STEEM) be bought and sold?
How it works: for what purposes can Steem (STEEM) be purchased?
Part of the confusion with Steemit lies in the different ways in which currency is presented to users. At the root is the motto Steem, which is the typical transferable, fungible, freely mobile token similar to bitcoin, ethereum or any other crypto-currency. But the same Steem can be put into two different types of Smar Contracts depending on the particular utility that an individual wants to attribute to it. The first is called Steem Power. Steem Power is the backbone of an account’s voting potential. In other words, the more Steem Power an individual owns, the stronger his vote is on Steemit. The team wanted to provide a mechanism by which individuals could take a long-term interest in the project, while allowing others to continue their speculation. In the white paper, Steem Power is compared to long-term capital commitments, similar to what a venture capitalist could do.The second Smar Contract is called Steem Dollars. It is a debt-like instrument that promises to distribute $1 from Steem to the token holder at some point in the future. In the words of the founder:”[C’est] the blockchain that tells Steem Dollar holders that, at some point in the future, the blockchain will convert their Steem Dollars to a Steem dollar after a seven-day conversion process.” This seven-day conversion process aims to minimize the possibility of creating arbitrage attacks by market clocks. If the Steem Dollars were immediately convertible into Steem, a user could benefit from a price difference, convert his Steem Dollars into “normal” Steem and earn more than the $1 corresponding to the Smart Contract that was intended for him, because it is a stable debt instrument, users who hold Steem Dollars do not benefit from any Steem price increase. If Steem is worth $1 and this conversion has taken place, the individual would receive 1 Steem for every Steem Dollar he or she owned. If Steem were to rise to $2, the individual would receive 0.5 Steem for every Steem Dollar he owned. To compensate for the “locked” value, Steem Dollars accumulates interest
Our review: should we buy Steem (STEEM)?
Steemit is a particularly interesting project as it is able to implement many things. In view of these ambitions, we can think that Steemit is here to stay and that, hopefully, Steem’s value will also increase, so why is the Steemit platform so great? Because you have the possibility to start a blog and earn money immediately with it. Of course, you will not get hundreds of euros when you start, but this can happen very quickly if you persist. If your posts are good, you can quickly earn about ten euros per post, then Steemit is great because other users can create applications on the Steem blockchain. For example, there is SteemJ – The freelance market, which is an independent market created by the user @jerrybanfield. Another example is the new DTube video site built at the top of the Steem blockchain where creators can earn Steem by posting videos. It is perfectly integrated with Steemit and has been created by the user @heimindanger, a technology with a high potential. We advise you to take an interest in it