I don’t see the difference between steem and Steemit to be so confusing. That’s like the difference between Disneyland and Disneybucks. What would you say is the difference between SBD and steem? Are they both tokens? Is one a coin the other a token? Was SBD intended to be the internal Steemit currency and steem the tradable token on exchanges? That’s what confuses me.
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SBD was meant to be used in steemit for rewarding authors and curators and pegged 1 to 1 with USD however traders / speculators hyped the price hence the increase in price. Witnesses are planning ways to peg it back.
AhOK. I had read that in the FAQ, but that changed by the time I got here. Now we get to play the game "When is the best time to trade SBD for STEEM." I learned that one the hard way when I traded at 1.2 Steem/SBD my first time and then it dropped to 0.9 a week later. Doh!