So why do I get Steem Power and NO SBD ?
How does one acquire Steem DOLLARS ?
When I vote I get Steem POWER . . .
When I AUTHOR a post I get Liquid Steem and SP
But how do I acquire new steem dollars ???
How does one acquire Steem DOLLARS ?
When I vote I get Steem POWER . . .
When I AUTHOR a post I get Liquid Steem and SP
But how do I acquire new steem dollars ???
Right now Steem Dollar payouts are disabled due to the internal economics of the system - i.e. when the amount of Steem Dollars reach a certain point (10% of Steem) - new Steem Dollars stop being created. If you want to get Steem Dollars you will have to buy them using Steem, Bitcoin or some other currency.
OH I thought they just converted 1% of SBD into SP ... So they did not do that ? they just shut off SBD; lol are we losing any website rewards due to these changes? lol just wondering if I am missing any free gold lol : )
Thank you so much for the explanation, appreciated ; )
No problem. No you don't lose anything you get exactly the same amount just in Steem instead of SBD. Steem Dollars are just basically like a note that says you own 1 dollar worth of Steem (like a Store Card).
(It is similar to a promissory note and I believe is more similar to how paper currencies operated when they were first created when they entitled you to a pound of silver e.g. the original pound sterling note worked like this.)
The problem is if there is too much held in Steem Dollars and the price of Steem is falling then at some future date there may not be enough Steem to redeem them against. That could be catastrophic for the Steem economy so the 10% limit exists to ensure that the "debt" represented by SBD does not get out of hand by continually printing more SBD.
That is my understanding of it I'm not an economist though.
Thank you so much, I thought one SBD was in theory equal to one US$ not one Steem. Appreciate your assistance !!!
Not quite it is one US dollar's worth (approximately) of Steem at whatever time you redeem it but the actual exact exchange rate does vary a little and is set by the witnesses who create a price feed. If it is was worth one Steem there would be no point in it existing.
Thank You for that screen shot !! !
Here's a post that explains the 'why' a bit more on why we're being paid in only Steem and not Steem Dollars right now.
The other comments are correct though. You can exchange your Steem for Steemdollars using the internal market here. To do this, simply click into your wallet and then the drop down menu next to Steem. Select the option to Buy or Sell.
On this next screen, you'll see the Buy's on the left and the Sells on the right. While you can easily click the small links of 'available' and 'highest bid' (which will populate the Fields with you total Steem and the highest current buy price) under the 3 sell lines of Price, Amount and Total, you can set these to whatever your want (i.e. not sell all Steem in your wallet and/or change the price to something higher than the current bid price, even though this may take time, or not sell, depending on the market.)
That's a very good question. I haven't received any new steem dollars in quite some time.
more info on my post in the replies
I asked this just yesterday. You need to buy it now. Use to get it as rewards but they changes it up.
Check steemit market.
thank you so much !!!
Here you go )
https://steemit.com/market
thank you for the link
so nobody has answered this yet? :/
there is a link under my post, just follow the bread crumbs ...
My thoughts exactly :)
And how do you use that link?
Simply it seems unless i am completely wrong, and I have NEVER been wrong; to simplify the systems they only pay out in SP (website rewards) and Liquid Steem you can immediately transfer and spend.
So let us look at that idea. Steem POWER is just enhanced website platform rewards, but pays 120 % interest over the year.
STEEM is unofficially called LIQUID STEEM because you can SELL it IMMEDIATELY. It is a cryptocurrency; that means internet money that you can trade for other cyber monies like BITCOIN. BITCOIN is the powerful internet money that is worth a lot more than the US$ or Euro or GBP. The reason people buy BITCOINS is some people trust the electronic internet marketplaces far more than the White House or # 10 Downing Street. After all it is no use having five thousand pounds in the Bank of England if BRITEX destroys the British economy, thus people spread their risk. BITCOIN is very expensive ! ! !
Steem Dollars are what you buy your new bikini with over the internet from Amazon. It is simply an internet money that trades differently from Liquid Steem. You would use that link to sell your Liquid Steem for SBD (dollars) if you needed that different currency.
Remember some people make money day trading these internet coins and they make profits (or losses) by the trading margins (differences) between swapping STEEM for SBD etc.
So to simplify the Steemit platform people now no longer gain Steem Dollars regularly, but they still exist (and I suspect) you would still have internest paid on them.
Personally I am glad they got rid of steem dollars becasue it simplifies the Steemit system; although I did not notice they took them away from the rewards, after all I do not care what my supervisors are doing... I just "work here" I do not make policy I just show up and they pay me . . .
I would like to cash out once just so I can say I have done it. But now I haven't a clue what i have if anything
I can explain the entire process, but your first time it is a bit complicated . . .
Like maybe the first time you programmed a video cassette recorder or the timer on your microwave oven.
The truth is , yes really you can take this internet money and turn it into plastic notes you can use at your local supermarket ! ! !
So no its not some great cosmic conspiracy just to con 9 people out of their internet savings : )
The reason it is complicated is you need two intermediate websites, currency exchanges to change Steem into Bitcoin and then Bitcoin into human money . . .
That means you register online like any other website, but you must go to the effort of creating the account.
Then you must prove your real life identity . . . (a fairly easy risk minimal process) ; but still effort ! ! !
Then link your real life bank account to that internet currency exchange...
With the fees and exchange rates and the USA election days away this is not the time to be experimenting unless you are seeking pure fun : )
The uncertainty of the American election has caused untold turmoil in the worlds economies including your own cryptocurrencies ; )
Your government are going to be as bad as ours, lock the lot of them up and throw away the keys