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RE: STEEM Dollars (SBD): Terminal End of Correction Approaching

in #steem • 7 years ago

I appreciate you breaking all this down on video. It helps folk like me tremendously. I agree. This is something to be excited about. If it was $18.71 once, it will be again, and more. That’s exciting, for sure. I wonder for now, though. What do we make of it if sbd is worth less than steem? Still power up? Any tips appreciated. Blessings

7 years ago in #steem by
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     7 years ago  

    You should understand that this is just a TA. It does not take into account the issue with SBD that could be pegged to USD by Steemit Inc. And they can do it exactly the moment when SBD price goes lower the STEEM and close to $1.

    My understanding is that SBD is not going to be lower than $1 but it is as well possible that it will be pegged to $1 USD as it was meant to be at the beginning.

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     7 years ago  

    Thanks so much for the advice! Blessings

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       7 years ago  

      It never really was meant to, see the whitepaper

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         7 years ago  

        It never really was meant to what?

        See for yourself.

        SBD tokens are designed to be pegged closely to one USD, so that users who receive them can know approximately how much they are worth in “real dollar” terms. SBD tokens also offer a relatively stable currency for users to hold if they are looking to preserve their account value relative to USD. A more detailed technical explanation can be found in the Steem technical whitepaper.12

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         7 years ago  

        yes i was sort of joking, it was MEANT to, of course; but it never really was designed in a way that would work. read the more detailed explanation, like it says at the end of your quote. long story short the devs didnt think this one through. I have a whole post analyzing the language of the whitepaper if you're interested

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           7 years ago  

          Not sure if SBD will behave accordingly to what steemit.inc wants as sentiment drives it.

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           7 years ago  

          AFAIK they already have started to "print" more SBD in a hope to get the price down.

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           7 years ago  

          The key is to be well diversified. So steem and sbd and other coins.