I understand that this grows quickly because people like to earn Steem by participating. But who is buying Steem and why? Only people who pay for Steem give it value.
RE: The Case For 1 Steem = $309.36
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The Case For 1 Steem = $309.36
No completely correct. People who like to work (earn) steam also give it value, as a mater of fact they are the ones that give it its ultimate value.
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Sorry, you're right. Only people who pay for Steem give it a price. But I'd still like to know why people pay for Steem.
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This article may help:
https://steemit.com/cryptocurrency/@phoenixmaid/are-you-still-wondering-why-steamdollars-have-real-usd-value#@phoenixmaid/re-sigmajin-re-phoenixmaid-are-you-still-wondering-why-steamdollars-have-real-usd-value-20160718t092437124z
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people pay for steem, becuase steem represent the value the community provides the world via blogs etc. If people decide that the value of the steemit community is worth more than the current asking price for the asset (steemit), which will be determied by total market cap then they will by in expectation of income, but really the ultimate expectation is the capital gains on the investment.
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