Thanks for the education! However I'm confused by what appears to be a contradiction? At one point you say not to hold Steem because "If you hold onto Steem Units for a long time, they will become diluted and lose value." But later in the piece you say "In the last 24 hours alone, the value of a Steem has increased a mind bending 277%!!! " So buying Steem and holding it should be winner, like if you bought bitcoins 5 years ago and had them now, you're doing great. Right?
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He adviced to not hold them for too long.
Being a tradable currency, there is volatility, so of course it can go up and down.
Steem units keep being created, the chance is at a moment there could be more offer than demand and the price will go down. The point is when.
But if you are there to invest and make money, feel free to define your own strategy.
Or as written by @steemrollin in his great post Steem: Where DOES the money come from?
"Steem
Steem is similar to publicly traded company shares. The amount of Steem doubles each year so there is signficant dilution for those that hold Steem, however like many fast growing startups a rapid increase in value may outpace the dilution. Just like company shares (ie. stocks) these digital assets have value as more people use and contribute to the ecosystem. The estimated value of the total outstanding Steem assets is currently about $20 million on Coinmarketcap.com."
thanks!
Does bitcoin work the same as steem ? are new bitcoins continually created?
New Bitcoin are being created, but the Bitcoin supply will be capped at 21 Million, as of now there are 16,397,150 Bitcoin that have been mined.