Thank you @sykochica .Sorry another question, So what are steem dollars good for or what can you buy with them besides steem? Other to confuse me, lol
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Thank you @sykochica .Sorry another question, So what are steem dollars good for or what can you buy with them besides steem? Other to confuse me, lol
There have been a few businesses around the world that accept steem dollars, but not many..yet. 😀 However there are people on here that accept or pay in steem dollars for goods and services. #steemgigs tag shows some of these.
The idea for the steem dollar is to have a currency with a stable value (even though it's been fluctuating more lately, it's supposed to be better 90 cents and $1.10.
These make it easier for businesses (or individuals) to price things. It would be rough to keep up with changes in steem price.
Having something with stable value is appealing for many that trade goods and services. It also gives users a way to hold their steemit earnings in a more stable way. 😀
You explained very well. Thank you.. Were Steem is the crypto that can change in value. Got it.
Exactly. Using slightly more official terms steem is the currency and steem dollars is an asset. The currency is controlled by the market and this asset has mechanisms in place to try keeping pegged to one Us dollar.