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RE: Vlog #61: Steem price thoughts. Poloniex is keeping the price down when they disable withdrawals.

in #life7 years ago

Well, by having Steem traded on an exchange, it lets the market discover the value of Steem. Trading Steem against other coins quickly establishes what steem is actually worth, because Steem is essentially worthless unless we can trade it for something else. And the market is the biggest financial computer in the world that can quickly determine the value of something. It is vital information for anyone viewing Steemit as a financial opportunity.