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RE: ❓Answering Common Questions: Where's my payout going?!?! It's Going Down!! 👇
There isn't a direct exchange between Steem and the US dollar. So we have to use Bitcoin to make that happen. Essentially there is the rate between Steem and Bitcoin (currently showing 0.00073461 BTC on coinmarketcap.com) and then the current rate of Btc to USD (currently showing at $2573.51 per btc).
So if BTC value drops while the Steem/BTC stays the same...well still feel some of the effects on our payouts. However, I look forward to the day that Steem can be directly traded to the US dollar!
The dips happen..the upside for it though is that for those looking..it can be a good time to buy the steem up. :)
Just the chance of getting content out to a new audience is rad.
Totally!! It's all just bonus to me! :D
How is that true though? I understand its not actually linked to USD but how is it linked to BTC completely? Isnt ethereum and LTC a way to cash out to fiat also? Wouldn't it go with their prices also?