RE: How the Steem Dollar Peg Works

You are viewing a single comment's thread from:

How the Steem Dollar Peg Works

in steem •  8 years ago 

So how is having "Steem Dollars" supposed to result in having actual US Dollars?

steem
8 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$0.00
    1
    Authors get paid when people like you upvote their post.
    If you enjoyed what you read here, create your account today and start earning FREE STEEM!
    Sort Order:  
  • Trending
    • [-]
      ·  8 years ago (edited)

    I describe this in my video. There are two mechanisms (for now) by which this happens: sell the SD contract directly, or execute it and sell the Steem it represents. Either way, you end up with about a dollar worth of asset which you can sell for federal reserve notes on a crypto-to-fiat exchange.

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $0.00