Howdy sir Glen! Hey are you invested in any other coins?
And do you know if Steem has a set number of coins available like Bitcoin does?
I've asked around and no one seems to know.
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Howdy sir Glen! Hey are you invested in any other coins?
And do you know if Steem has a set number of coins available like Bitcoin does?
I've asked around and no one seems to know.
Hey, @janton.
As far as I know, STEEM isn't set up the same way as Bitcoin is. It's designed on the tried and true scarcity model, where the worth is meant to be in the fact that they are harder to come by, and therefore, harder to obtain.
STEEM on the other hand is meant to be a global digital currency, with the sue in its worldwide acceptance and utility.
The inflation rate of the reward pool is actually counting down and is supposed to hit 0% at some point into the future (can't remember now how far). I'm not sure what's supposed to happen then. I guess that can be dealt with if we get near to it. It's something like 20 years since the launch, so maybe 2036? Don't quote me.
re: other coins
I don't have any money invested in either other coins, but I do have some Basic Attention Tokens, which actually trades on Coinbase and I'm assuming others. It's listed as BAT, and is related to the Brave browser. It's basically designed to award content creators on the entire Internet in the same way STEEM does on its blockchain. So far, though, it doesn't appear that it's highly circulated yet. At some point, you're supposed to be able to earn BAT by clicking on ads (which Brave actually blocks), but that's not up and running yet.
I also own some tokens that are traded. Asher has given me some of his ENGAGE tokens (others, not just me, too), and a friend of mine gave me some pocket tokens, which work within the comment sections of a post. Neither of the latter two have much of any worth, but the BATs are up to $0.27 now. I earned them by watching videos and answering questions about them on Coinbase. There currently offering another coin, Stellar Lumens, if you do the same thing.
Other than that, and what I hold in STEEM, I'm not that big into crypto. I'm not convinced that it won't all fold and evaporate, and at the very least, I don't think many coins are worth what they are right now. Some just happen to have better PR than others, and so where people decide there's value, the price goes up.
Howdy again sir Glen! thanks for answering me so late. Yeah I don't understand how Steem works but I'm sure it's all good. lol.
I'm not into crypto much either but I did do that Stellar promotion on Coinbase for a few of the free billion that they're giving away.
The BAT thing sounds like it could work eventually. Maybe. It's an interesting one that I didn't know about so thanks for that information!