Steem dollars (Symbol: SBD)
This is the currency of Steemit platform and is also known as SMD. This is what people send each other when they upvote posts about Steemit. The reason it Steem dollar is called because one Steem dollars represents a lot Steem USD 1 per at this time on the exchange rate required to reach (more or less). However, unlike Steem, you can use not Steem dollars outside the Steemit platform. You will first need to convert your dollars into Steem Steem and only then will you be able to convert this Steem in Bitcoin or USD. The reason Steem dollars were created because the founders wanted to tie the value of Steem in any way to the US dollar, so that people will be able to act within Steemit, but not to be afraid of exchange rate fluctuations. In this way, if you act, for example, 100 Steem dollars you know that you are giving away 100 USD worth Steem.
more detail https://bitscreener.com/coins/steem-dollars
The SBD to STEEM conversion rate is now about 0.55!
This means it's very ripe for SBD to STEEM conversions, and you may not get this chance again!
Remember that this opportunity will soon disappear as SBDs will naturally correct towards $1.00. Right now you have an opportunity to almost double your money given intrinsic values, if you trade correctly!
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Not the First Time
SBDs have gone through price pumps before, even long-term ones. In late May to early June, SBDs traded between $1.50 and $2.00.
However, don't treat SBDs as a normal cryptocurrency with a possibility of "mooning" or anything like that.
SBDs are tied to the dollar. They're supposed to be intrinsically worth one dollar each. Due to this, the Steem blockchain and witnesses attempt to restrict the SBD price movement to keep it near a dollar.
In the end, SBD will always correct to a dollar because that's it's intrinsic value. However, the Steem blockchain's SBD peg is very poor and flexible, so pumps like this could happen.
