Thanks for that! So that post says, "You can buy/sell Steem Dollars for Steem on exchanges." So, if I go to an exchange, like Bittrex, I can trade my U.S. dollar for either Steem or Steem Dollars? The difference being that Steem, like the U.S. dollar, is tradable to another person in exchange for a good or service... Whereas Steem Dollars is like holding a bond... I'd exchange my SD (SBD, SMD?) for Steem (or USD?) before purchasing a good or service? So, I can buy a cup of coffee with my Steem, but I will earn interest with my Steem Dollar. Is my understanding correct?
Bank notes are just "bonds of the bank", so you would purchase goods and services with Steem Dollars. The only time you purchase Steem is if you want to speculate short term or to convert to Steem Power.
Steem Dollars are the "currency" for business transactions and tipping.
You can trade Steem Dollars for Steem on the blockchain (once Steem Dollars get created on July 4th).
Thanks for that! So that post says, "You can buy/sell Steem Dollars for Steem on exchanges." So, if I go to an exchange, like Bittrex, I can trade my U.S. dollar for either Steem or Steem Dollars? The difference being that Steem, like the U.S. dollar, is tradable to another person in exchange for a good or service... Whereas Steem Dollars is like holding a bond... I'd exchange my SD (SBD, SMD?) for Steem (or USD?) before purchasing a good or service? So, I can buy a cup of coffee with my Steem, but I will earn interest with my Steem Dollar. Is my understanding correct?
Bank notes are just "bonds of the bank", so you would purchase goods and services with Steem Dollars. The only time you purchase Steem is if you want to speculate short term or to convert to Steem Power.
Steem Dollars are the "currency" for business transactions and tipping.
You can trade Steem Dollars for Steem on the blockchain (once Steem Dollars get created on July 4th).