RE: Steem Dollars are $8 EACH??!?!?!! Sell as much as you can!!

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Steem Dollars are $8 EACH??!?!?!! Sell as much as you can!!

in cryptocurrency •  7 years ago 

Nope, the only way to trade in dollar values is to trade it in dollars. Usually this means USDT (which is not USD, but a crypto tethered to USD.. lots of distrust going around it currently). Bittrex lists only a handful of coins in USDT.

The way I do it is that I keep an eye on coinmarketcap.com and write down the dollar amounts when I buy. It's not perfect, but it's something. Unfortunately the Bitcoin price makes everything look like it's going down, but really Bitcoin is just going up a lot.

The fact everything is traded in Bitcoin is also the reason why Bitcoin is valued so much by the way. It is like how dollars are worth a lot because that is what oil is sold in, Bitcoin is worth a lot because that's what you use to buy other crypto. Oftentimes you can also trade in Ethereum, by the way.

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cool, thanks for the info. Yeah I bought one Ethereum, then sold about athird of it to buy smaller stuff for my "weekly trading". I also bought 1 Litecoin which I plan on just holding.