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RE: Ready to Power Up or Cash Out? Part 1: Your July 4 Guide to STEEM Power, BitShares Assets, and OpenLedger

in #steemit • 9 years ago

I am a little confused about the difference between a Steem Dollar and Steem. According this I should be able to trade Steem Dollars , and not just Steem, for Bitcoin. Since Steem Dollars are supposed to close to a US Dollar, wouldn't that make Steem Dollars more valuable than regular Steem, since Steem is currently trading around .25 of a US Dollar?

What am I missing or not understanding?

Thanks

9 years ago in #steemit by
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     9 years ago (edited) 

    I think that the idea is to exchange Steem Dollars for STEEM and immediately turn STEEM into Bitcoin or whatever. Because by turning Steem Dollars into STEEM you always get $1 work of STEEM from what I understand, so it really doesn't matter how much STEEM is worth as long as you are immediately exchanging it for some other currency. You might want to only keep raw STEEM to speculate on the price or something. But this is just my understanding.

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