Thanks very much for your reply, yes I get this but as your say 110 steem and $90 still is a bit confusing but I am sure it will all come out in the wash one day. In other words stay the long haul.
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Thanks very much for your reply, yes I get this but as your say 110 steem and $90 still is a bit confusing but I am sure it will all come out in the wash one day. In other words stay the long haul.
It means you can have more Steem than yesterday but it might still be valued less as the price of Steem has changed. Imagine buying candy from the shop for 10 dollars, you'll get 10 candies as they are priced 1 dollar/candy. So you are holding 10 dollars worth of candy in your pocket now. The week after you go the same shop and see that price of candy is now 80 cents/candy. Your 10 dollars worth of candy is now actually worth of 8 dollars. 2 dollars of value was just lost but you still have the same amount of candy.
The price of Steem is decided by demand and supply of people. If there is big demand, people will be buying a lot of Steem and driving the price and other way around. Just like price of oil or gold changes from every minute to another.
I see some people I followed also had this issue as well thanks, devaluation a bit like currency. I have followed you as well. I value this advice.
Every new user should be introduced to the site and cryptocurrency with a well made video, sadly that isn't where we are at currently.
And yes, Steem is a currency - hence the term cryptocurrency. People actively trade it on exchanges 24/7.
Next question please as a total newby, I have opened a coinspot account now and how easy is it to transfer steem please. And also am I better to keep putting Steem into the voting side as I see people who I follow seem to be doing this and getting places faster thanks you are welcome to look at my wallet to comment thanks.
Haven't heard of coinspot. I'd use poloniex.com instead if you want to sell your Steem. I don't understand your second question, do you mean turning Steem to Steem Power? You need a lot of Steem Power before you can see your upvote actually do something. I wouldn't worry about it now at your position. Just see if you like being here for month or two and then think about it.
Thanks I will do this.
I note my Steem has gone up but it was starting at 0 after transferring it.