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RE: Introducing the Steem Defender Bot. Designed to Protect Steem From Economic Collapse and Support Minnow Growth (Article)

in #steemit • 7 years ago

Hi @ilyastarar. Our understanding is that when steem is converted into steem power, its converted at the rate at which steem is worth.

Meaning, 1 steem turns into .84 steem power if steem is worth 84 cents.

Also meaning, 1 steem turns into 7 steem power if steem is worth 7 dollars.

7 years ago in #steemit by
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     7 years ago  

    Hi @earthnation,

    Then please be informed that your understanding flawed as I pointed out. SP is basically frozen Steem and its value is same as that of Steem because it is Steem.

    image

    If you look at the image above, you will see that I bought 5.960 Steem by paying 6 Steem Dollars. Then, the amount of Steem I received was immediately powered up. Exact same amount of SP I got.

    Hope you understand. I am a minnow but I did put in a lot of effort to learn about Steemit.

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