@haejin i know many people have told that SBD will go back to the dollar but for the steemit block chain it is not possible that Sbd will get to 1 back and your prediction will be true soon only by people saying it will come back to 1 is not accepted by system it need proof and knowledge thanks
Witnesses are currently debating changing it to it is intended $1 worth of steem.
You can say it wont happen but all you have to do is jump in the conversation for clarification.
It is very much a possibility.
And it is not $1... But a $1 worth of steem.
Actually the SBD was supposed to be pegged only to a low end of $1USD not a dollar worth of steem. Nor was it set to have a ceiling value, "in the white paper" this may have been an oversight but it was addressed in the interest rate paid on STEEM in savings. It is stated in the whitepaper that it pegs to $1.00 USD https://steem.io/SteemWhitePaper.pdf
Now that being said the white paper only delves into the value of STEEM debt-to-ownership ratio. In that that the value never get below $100. But it only asddresses interest payment if it goes above $100. Now if you look at your wallet the savings mechanism currently shows that 0.0% interest is being paid on savings.
Keep in mind that currently the Witnesses are only discussing this move to peg both the bottom and top of the SBD value to $1.00. It is not going to happen in the next fw days or anything like that.
This is only being done so that SBD's can be seen as a stable currency and can be used in STEEM Market place as a store of value that can be swapped for fiat and a store owner never having to worry about the value of SBD crashing before or after a market transaction has taken place.
I hope this helps
Wow, it absolutely does! I have been killing my voting power and have been trying to get it back but I couldn't NOT upvote that reply. Thank you!
If you really want to upvote me how about pitching a witness vote my way https://v2.steemconnect.com/sign/account-witness-vote?witness=libertyranger&approve=1. I have been spending everyday learning as much about the STEEM infrastructure as I can and how STEEMit is built around it in order to better understand how to advance it in ways that are benificial for everyone.
You got it, as well as a follow. Steem on and good luck!
Much appreciated sir.