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RE: Vlog 332: SBD to STEEM conversion (correction) + Steem Monsters accept outside crypto!

in #dlive7 years ago

Very cool that Steem Monsters is getting attention from outside Steemit; seems to me that would definitely be a good thing for Steem, in the long run.

I wonder, now that SBD are pretty close to the original intention of a 1 SBD = 1 USD "peg," was anything learned from the activity since November last year that would keep it from going back to $5 or even $10 again? Or is it just "market forces" at this point, and little can be done?

I ask from the perspective of there perhaps being more of a "Steem Economy" where in order to effectively market goods and services, it becomes very difficult if the "currency" can swing 100% in a week. For example, I want to offer a t-shirt for 15 USD, so I use something like @steembay to place it at 15 SBD. But by the time the 7-day listing ends, the t-shirt is now 30 USD which nobody will buy. See my point?

Anyway, all the best to you!

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I understand where you are coming from. Currently it's market forces. An SBD can be pegged on the underside but not at the top (>$1).

An SBD is literary only worth $1 of STEEM. I think it was never expected that anyone would pay more for something that's only worth $1.