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RE: Why I Left YouTube for Steemit and DTUbe
Yes that's my favourite part too! STEEM is meant to be pegged to USD, but it's way more valuable now, not entirely sure why though. You get a percentage of the payout, the curators also get some but it should tell you after 7 days and then you can go to Wallet and then Redeem Rewards to get it transferred onto your STEEM profile. I haven't figured it out passed that though as I don't plan to cash out anything this year - just want to power up!
Steem Dollars/SBD (Steem Backed Dollars) are meant to be pegged to USD. The cryptocurrency is STEEM, SBD is just a token backed by STEEM. SBD is meant to be stable, although it's currently not.
So every day STEEM (the crypto) is put in a reward pool, then everything in the reward pool goes out to the authors/curators and when it does it's converted to SBD, so the $ you see is SBD.
I think the problem is that most people use their SBD to power up their account, so the demand makes it go up in value :P
Whoa😲 i see thanks for explaining 😄 not gonna lie had to read that over again a couple of times to understand haha, but seems cool 👍😝
It's pretty confusing I must admit. Not sure if I fully understand it myself yet 😋