Was there ever an ICO on steemit? I see that steemit is traded on open ledger and Bittrex. These guys usually trade things that are not yet released. So considering that steemit is still on beta, how is it that Bittrex is trading steemit tokens. Someone please explain this to me. Did I just buy an IOU token at Bittrex?
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All initial steem was created by mining. They trading for now on Bittrex and Openledger, because we stilll in early stage, we will see more exchanges soon.
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Steem was released as a mineable blockchain a couple months ago. Steemit is a beta website that interacts with the Steem blockchain. The tokens you bought can be withdrawn and transacted with on the Steem blockchain, independent of the Steemit website.
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You're buying IOUs for each coin on every exchange. But you can withdraw them to Steem :)
The first phase of steem was one month of public mining with block rewards paid out in Steem. And Powering Down is also possible for those that powered them up. The market is real.
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