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RE: OMG Steem Price is Falling WTF?!?! - Why Steem is Probably Okay and How You Can Help It
So... when we are getting paid out in Steem, it's not best to let it just sit there, right? We only have two choices sell it at the dirt cheap price or powerup with it, correct?
I don't love either of these options, which fuels my indecision and just leaves it sitting there.
Yeah, most definitely DON'T leave it sitting there. If you don't want to power up, you can convert it to Steem Dollars, which are far more stable. Next to Steem, click on the arrow and go down to "Buy or Sell". This is where you can convert it to Steem Dollars, where it'll be a bit more stable.
Alternatively you can sell your Steem like usual, buy Steem Dollars from an exchange, and then transfer them back to the platform (Steemit). Although, to be honest, I've never done it that way.
I thought turning it into Steem Dollars would still subject you to a terrible conversion rate? No?
I agree here. With it pegged relatively near 1 USD, the conversion rate is still shit atm. Unless steem value compared to fiat is meant to go down ad infinitum...
So that's why ppl would rather just hold it in bitcoin or maybe another altcoin that has the chance of rising more than SBD. Or am I crazy? I'm crazy, but not always wrong.
edit; tho the sbd interest is more guaranteed than rise of other coins...it's just...not that simple! plus Ive read witnesses write on the prolems that ppl accruing the sbd interest can also have on the economic system