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RE: My first Withdraw from Steemit to Paypal!
I thought Steem Dollars are supposed to be pegged to the US Dollar and when you convert from Steem Dollars to Steem you are supposed to receive the equivalent in Steem. So if someone had 10 Steem Dollars and converted it to Steem at the current rate of .60, they would receive about 16.66 in Steem which would valued about about $10 USD. I know in your situation you went a different route but am I misunderstanding the Steem Dollar being pegged to the US Dollar?
You're correct that Steem Dollars are supposed to be pegged one to one onto the US dollar, but it does fluctuate. Last I looked 1 SD is about 0.86 USD. So in this example, 10 SD = $8.60 and when converted to Steem valued at $0.60, would give 14.333 Steem.
The Steem Backed Dollar (or Steem Dollar) is it's own token that tries to hold a one to one value to the US dollar. This has it's own fluctuations of the exchange rate, lately one SD has been a bit under $1, but I've seen it over as well. So you basically have two exchange rates you're dealing with when converting SD to Steem..the SD/USD rate AND the USD/Steem rate.
Sorry if that was confusing. Feel free to join the #steemprentice channel in steemit.chat as there are people better suited than me who can answer questions. :)
https://coinmarketcap.com/currencies/steem/ here you can find the actual value of a single unit of steem dollar.
Right now, it's $0.540752 ... but it SHOULD be equal to 1$, yeah xD
I was under the impression that Steem and Steem Dollars are two different things. I also found this chart for Steem Dollars: https://coinmarketcap.com/currencies/steem-dollars/
Current rate of $0.823666.
Uh, yeah, sorry. Wrong graph.
I think your graph is the right one :) steem and steem dollars are different things, as far as I know :)