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RE: Talking to Skeptics: Maybe the Tooth Fairy Accepts Bitcoin!
How does the $4.98 or whatever value each post earns correlate into physical U.S. currency? Like roughly wat is the exchange rate?
How does the $4.98 or whatever value each post earns correlate into physical U.S. currency? Like roughly wat is the exchange rate?
Hi @lovewild, thanks for the comment!
Well assuming that my post ends up making "$4.98"-- actually, let's round it off to $5.00 for easier numbers-- I will end up with a payout at the end of 7 days. Of the $5.00 about $1.00-$1.25 will go to the "curators;" those being the people who upvoted and commented on my post. The remaining-- let's say $4.00-- ends up in my Steemit wallet as 50% Steem Power and 50% Steem Dollars. Steem Power and Steem dollars have different exchange rates, typically quoted relative to Bitcoin. Right at this moment Steem trades for about 1.03 USD and Steem Dollars for 1.55 USD
So 1.00 Steem = 1.03 USD? Thanks for explaining. That makes a lot more sense.