Today Steem is down 12% at the time of this report. Do not be concerned. It is simply people working the markets to make profit off price fluctuations. These things happen all the time. If anything Steem power is costs less now than before. You may want to get some if your lucky enough to find a way to buy bitcoin. I have had problems doing that in the past. Mostly because I don’t have a cell phone.
Don’t Panic out about price drops. Nothing goes up in a straight line. Steemit is going to do fine in the long run.
Thanks for the update, I've been thinking about buying some steem, maybe I'll jump on that.
Isn't it supposed to correct towards 1 USD?
"The primary concern of Steem feed producers is to maintain a stable one-to-one conversion between SMD and the U.S. Dollar (USD). Any time SMD is consistently trading above $1.00 USD interest payments must be stopped. In a market where 0% interest on debt still demands a premium, it is safe to say the market is willing to extend more credit than the debt the Community is willing to take on. If this happens a SMD will be valued at more than $1.00 and there is little the community can do without charging negative interest rates.
If the debt-to-ownership ratio is under 10% and SMD is trading for less than $1.00 then the interest rate should be increased. This will encourage more people to hold their SMD and support the price.
If SMD trades for less than $1.00 USD and the debt-to-ownership ratio is over 10% then the feeds should be adjusted upward give more STEEM per SMD. This will increase demand for SMD while also reducing the debt-to-ownership ratio and returning SMD to parity with USD."
I was paid interest three weeks ago and the price was much higher. I don't think interest has been suspended at this time. Can anyone confirm interest has been suspended?