Steem, is it a good investment?

Steem is the token and economy powering the social network Steemit, which is like Reddit except it pays people to post and curate content. Steem is supposed to be tied to the US dollar to give it some stability but right now it is at 85.6 cents, which is still much more stable than other coins. Being that there is money involved on the network, there is a lot of bots and manipulation and one of Steemit’s greatest challenges is to find ways to battle bots and manipulation and have a fair grading system to reward people who post good content. The website itself if an indicator of how the currency is doing and with an Alexa Rank in the 2000s, it is a popular site, but not nearly on the level of reddit or twitter. The currency inflates at 100% per year with no cap and held Steem earns 10% interest APR.
I think Steem has an uphill battle to fight as large sites like Reddit already dominate the space and because Reddit doesn’t have money incentives, there is less incentive to cheat on Reddit as there is on Steam. Although, it has potential, I would put my own money in other coins at the moment.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s