Many of the new posters, and visitors on steemit, probably dont know how exactly the payment system works..!
I wont get into details, many people have already written very nice guides describing how the curation rewards work, how to post, when to post, what kind of tags should be used, and when the payments take place.
My main concern today, is STEEM DOLLARS...
A wonderfull invention i should say... Why? We all know that the pricce of steem is in perfect levels so far...
But who can guarantee stability ? ? ?
So what about the good old steem dollars? What is so special about them?
First of all, there is a 10% staking bonus... Leave the coins in your wallet and they stake... Like other POS coins..
10% is yearly... and witnesses by vote decide this interest.. But to be honest it will probably stay at 10%.
The rewards of staking come every month, in a total of 10% per year. In order for them to appear under your wallet info, on steemit website, a small transaction must be made.
Currently there's no automatic crediting. when you do another transaction, if it has been more than 30 days since your last interest, your interest gets added. So what should you do? POST SOMETHING OF COURSE!!
Great right?
Next but not least,
Top 19 witnesses use a price feed... Its used to calculate a one week median, in order to convert steem to steem dollars an vice versa. Of course the price is already adjusted in the internal market too...
You can click convert to steem button, and it will take a week to convert STEEM DOLLARS to steem, or you can directly exchange them in the internal market.
For those who dont know there is an internal market. Here is the link:
So whats it so special about that? well in simple words... STEEM DOLLARS DONT LOSE VALUE!
Their value will always be adjusted accordingly to match the price.. of how many steem needed to add up to make a 1$ ...
For example in if a steem has 0.333 usd value.. 1 steem dollar will "contain" or "worth 3 steems inside.
If the same steem goes 2 usd in value... 1 steem dollar will "worth" 0.5 STEEMS.
Isnt this amazing ? No matter what happens the steem dollar will always be ~1 usd!! Dont tell me there is a better investement that this? That in the passage of time, its value finds ways and stabilizes it self in a flat line?
And guess what? for those arbitrage lovers... you can constantly play with STEEM, STEEMDOLLARS, and btc... to make even more profit!!!
Keeping some of your steems, in steemdollars... makes you sleep well at night.. and dont wake up every hour and refresh your coin application alerters on the mobile phones to see whats happening.
Thats all! STEEM DOLLARS work as they should... Trust them!
Even their initials.. confirm they sole purpose of existence... STABILITY
Steem Backed Dollars "SBD"
You can now trade them on directly on:
https://bittrex.com/Market/Index?MarketName=BTC-SBD
Steem dollars are cool but Steem Power is where it is at imo. Yeah you might not be able to move them out but you get more voting weight on the site and they also give you interest.
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I'll also paste here my post for crypto newbies :) : https://steemit.com/cryptocurrency/@andu/welcome-to-cryptos-and-beware
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sure but why not to transfer SBD directly to power when we can make 90% profit?
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Great post steemychicken1,
I personally am a fan of diversifying my funds across both because I do have a lot of faith In Steem, but if it does drop, I like to have some $$$ on hand to scoop up more. 8)
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It really seems like steemit is a solid investment. And this 10% staking bonus looks promising!
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We believe that steem is not only a good investment. Check it out here :)
https://steemit.com/steemit/@cultura.bitcoin/steemit-decentralization-of-the-paradigm-of-writing
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Thank you for the post but think that steamdollars will get always 1:1 relation with usd...well it may be a risky afirmation, parity only can be sustained if buy and sell orders are at equilibrium, if it brokes because a big whale or because a panic it may be broke
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