Write the reason you're deleting this FAQ
I am not a cryptocurrency expert nor a person with "real" experience. I have slim to none knowledge about block-chains and I can't say that I even know for real, what a bitcoin is. More than the fact that you can use it as money. It is money. In some way.
That being said, Steemit.com are using two different cryptocurrencies. We have Steem Dollars which is worth about $0,92 right now and we have Steem. Just a few months ago Steem was worth about $5 and nowadays, it's worth around $0,30.
What I want to know is, what can the "average" person do, to increase the price of the currency? - Is there anything a non-millionaire can do to increase the value?
I understand that the value would increase if Steem was in demand. As that would make people buy it like crazy. - But I don't have millions to spend on buying it, so is there anything I can do?
Are you sure you want to delete this post?
Are you sure you want to delete this post?
Are you sure you want to delete this post?
Are you sure you want to delete this post?
Are you sure you want to delete this post?
Are you sure you want to delete this post?
Are you sure you want to delete this post?
Are you sure you want to delete this post?
CryptoGuru
First thing that will make the price go up or down is the amount of people who currently hold or use this currency. For example we know with Bitcoin we only have 21 Million coins total so the more people that have or use Bitcoin the higher the price will have to go to sustain all the new people.
The second thing that affects the value is public opinion. Believe it or not if word spreads a negative taste about your currency it will likely fall a few notches. The reason i know this to be true is because when one of the core developers from Bitcoin left and he said he was selling all his coin and that Bitcoin was a failed experiment the price dropped about %15.
The third but not final thing is how many people are actively buying the currency. not so much holding it or sending it back and fourth but buying it. When Bitcoin was over purchased back in July the price went up almost 100%. Some rich guy decided he wanted to buy Bitcoin on a large scale and hold onto it and the result was a price increase similar to the one we saw in 2013.
Steemit is not working for me. I have a few posts on the site but they are just not moving around at all. I don't think its for me but im going to give it a few more tries before i give up. When it comes to crypto currency many factors can devalue or add value to the price. I will explain a few here so you can understand a little behind whats involved. First thing that will make the price go up or down is the amount of people who currently hold or use this currency. For example we know with Bitcoin we only have 21 Million coins total so the more people that have or use Bitcoin the higher the price will have to go to sustain all the new people. The second thing that affects the value is public opinion. Believe it or not if word spreads a negative taste about your currency it will likely fall a few notches. The reason i know this to be true is because when one of the core developers from Bitcoin left and he said he was selling all his coin and that Bitcoin was a failed experiment the price dropped about %15. The third but not final thing is how many people are actively buying the currency. not so much holding it or sending it back and fourth but buying it. When Bitcoin was over purchased back in July the price went up almost 100%. Some rich guy decided he wanted to buy Bitcoin on a large scale and hold onto it and the result was a price increase similar to the one we saw in 2013. Steemit is not working for me. I have a few posts on the site but they are just not moving around at all. I don't think its for me but im going to give it a few more tries before i give up.
Are you sure you want to delete this post?