If Steem is trading for roughly $5, why does it get me only .5 Steem Dollar?

in steemit •  7 years ago 

Why does 1 Steem only get me .5 Steem Dollar? The conversion from Ether to Steem Dollar also seems odd.

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7 years ago by

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      ·  7 years ago 

    You have to look at what 1 SBD (Steem Dollar) is trading at ...
    https://coinmarketcap.com/currencies/steem-dollars/

    If SBD is nearly $10 and STEEM is nearly $5 then 2 STEEM is about 1 SBD

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        ·  7 years ago (edited)

      This if fairly misleading then. Steem Dollars "tokens worth about $1 of Steem", if $1 it is actually over $9 (above screenshot).

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          ·  7 years ago (edited)

        That is a peg if it falls below a dollar you make interest (well not including vests but that is another story)

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            ·  7 years ago 

          Then the term Steem Dollars is misleading and then explanation is very misleading. Do you agree with that?

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              ·  7 years ago 

            Definitely it took me a while to get that when I had to look up what the heck does vesting do lol.
            https://steemit.com/interest/@sigmajin/understanding-the-steem-economic-system-vests-sbd-steem-dilution-interest-and-all-those-crazy-things

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                ·  7 years ago 

              They should change the wording since Steem and SBD trade independently on many markets and therefore have varying values.

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                  ·  7 years ago 

                i also need to know

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                    ·  7 years ago (edited)

                  It's based on a trade of what a Steem dollar is to a steem unit if a steem unit is $5 and an SBD is 10 then you only get 2 Steem for 1 SBD
                  If Steem is 2 Dollars and SBD is 10 you get five so the ratios matter between the two if you think steem is going up then sell SBD and buy Steem
                  IF you think SBD is going up then sell Steem and buy SBD

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