Greetings friends of Steemit and Steem Fashion&Style
| Did you know about sbd or is it something new to you? |
|---|
Yes I came to know about it just last time when it was paid to create content by the users.
There are three types of currency as Steem (STEEM), Steem Power (SP), Steem Dollar (SBD). Each currency with a distinct purpose creates a robust and dynamic echo system.
Having multiple currencies, Steemit can balance the needs of its stakeholders resulting in a unique and engaging ecosystem.
The Steemit platform tries to keep SBD stable at $1 by pegging mechanism. The market forces, supply and demand influences the price of STEEM but the pegging mechanism keeps SBD stable.
Imagine a seesaw with SBD on one side and STEEM on the other. The Steemit platform tries to keep SBD stable at $1 by its pegging mechanism.
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Overall Steem and Steem Dollar offer a unique approach to Steemit and content creation, rewarding users for their contributions and providing an innovative economic model.
| How has the arrival of SBDs influenced the growth of Account. |
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When the SBD-steem ratio is high, content creators receive more SBD rewards which can be converted into Steem or other crypto currencies. In converse when the ratio is low, content creators receive more Steem Power (SP) rewards.
SBD rewards provide a more stable store value of assets. A high SBD-steem ratio increases content creators' income with more valuable SBD rewards.
| Briefly explain how to convert SBD to steem |
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I just signed in wallet with my owner key. I found there SBD available is 1.443. I clicked the arrow beside Steem Dollar. A drop down menu appeared. I clicked market as shown in the screenshots below.
Now in the market window BUY STEEM writen in green I have circle the available SBD figure 1.443. On clicking, the figure appeared on the conversion amount box shown by green arrow and corresponding amount of 21.122 Steem also appeared in the Box shown by red arrow.
As soon as I clicked on the buy button the confirmation window opened I confirmed by hitting ok button as shown in the screenshot where the amount of SBD and corresponding Steem is also mentioned. It sometimes take time to transfer to wallet. As seen in the wallet SBD has become zero but Steem yet to arrive in wallet.
It has arrived in wallet at 17:40, so exactly after seven and half hours. In screenshot it is clear that 21.122 steem has added to Wallet.
| Do you consider that it is better to receive rewards directly in Steem or do you prefer them in SBD? Why |
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Even though we have earnings in multiples from the conversion of SBD to Steem, but it is not possible to happen endlessly. It is only possible if we 100% power up and retain Steem in the ecosystem.
Steem can be converted to Steem Power but Steem Dollar can't be directly converted to Steem Power. The three currencies are very inter-supportive and complementary making the platform a dynamic and sustainable ecosystem.
Thank you for reading my post.
I would like to invite three fellow Steemians to participate in the contest Allergic Cough
@chiagoziee
@eveetim
@avalanch
CC @dequeen
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