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RE: A bit about Steemit

in #steemit9 years ago (edited)

Here is my one confusion. Say I have $500 Steem Dollars. Steem price was at .20 a week ago or so, now the price of steem is $1.50. If I were to power down those Steem Dollars when they were .20 I would get 5 Steem tokens correct? And if I held those 2500 tokens and sold at 1.50 now I would stand to make a nice profit right? But now that it's 1.50 will I only get 66.666% of a token for each Steem Dollar? or is there some other way this is done? Am I completely a moron for not getting this lol. I just want to do the right thing and not screw this beautiful chance up! Also great post by the way!

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You can't power down Steem Dollars. Only Steem Power can be power don't. You're right on the rest though. Those Steem dollars won't give you as much Steem for you're dollars now that the price of Steem have gone up.