Steem Backed Dollars (SBD) not Steem. It is also on Bittrex. Just Google Steem backed Dollars coinmarketcap and it is there. Crazy prices right now. @papa-pepper just gave away a ton in a selfie contest too.
Ah, now I see it. Didn't know that SBD was a coin as well. Thought that had to be converted to STEEM. I thought SBD was an "internal" thing to Steemit only. Man, got some more learning to do :-/
Believe me, I am no expert. It is quite unusual though for SBD to be this high. Happened that one time when you look at the chart, but most of the time it is about $1. It is supposed to be $1. I think the witnesses vote to set rates (almost like the Federal Reserve) in order to keep SBD equivalent to $1. In reality it goes up and down though based on market conditions
It is a way to keep things decentralized. It sounds complicated, but as an analogy to the US government, it is like electing someone to Congress. Instead of having all of the power centralized to a dictator, it is spread out to people that we can elect.
coinmarketcap
Almost $7 right now
That's odd...I don't see that. I see $1.90 as current and no highs of $7. Unless I'm looking at this wrong.
Can you take a screenshot?
Source: Coinmarketcap
Steem Backed Dollars (SBD) not Steem. It is also on Bittrex. Just Google Steem backed Dollars coinmarketcap and it is there. Crazy prices right now. @papa-pepper just gave away a ton in a selfie contest too.
Ah, now I see it. Didn't know that SBD was a coin as well. Thought that had to be converted to STEEM. I thought SBD was an "internal" thing to Steemit only. Man, got some more learning to do :-/
Believe me, I am no expert. It is quite unusual though for SBD to be this high. Happened that one time when you look at the chart, but most of the time it is about $1. It is supposed to be $1. I think the witnesses vote to set rates (almost like the Federal Reserve) in order to keep SBD equivalent to $1. In reality it goes up and down though based on market conditions
Yeah, the witness thing is still kind of a mystery to me. Don't have a good idea of what they do or why we need them.
It is a way to keep things decentralized. It sounds complicated, but as an analogy to the US government, it is like electing someone to Congress. Instead of having all of the power centralized to a dictator, it is spread out to people that we can elect.
Also, crap! Steem is now almost $1.90!!!
True, and the SBD is at $13...what the whaaaat??
It's a Christmas miracle!