Sorry, you're right. Only people who pay for Steem give it a price. But I'd still like to know why people pay for Steem.
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Sorry, you're right. Only people who pay for Steem give it a price. But I'd still like to know why people pay for Steem.
This article may help:
https://steemit.com/cryptocurrency/@phoenixmaid/are-you-still-wondering-why-steamdollars-have-real-usd-value#@phoenixmaid/re-sigmajin-re-phoenixmaid-are-you-still-wondering-why-steamdollars-have-real-usd-value-20160718t092437124z
people pay for steem, becuase steem represent the value the community provides the world via blogs etc. If people decide that the value of the steemit community is worth more than the current asking price for the asset (steemit), which will be determied by total market cap then they will by in expectation of income, but really the ultimate expectation is the capital gains on the investment.