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RE: @Aggroed's Full Time Steem Life #2!

in #steem7 years ago (edited)

Per @aggroed: "The other debate that I've been able to partake in a lot is, what should we do with the SBD? My response is, help it be as high as possible because this is good for the platform."

As Witnesses, what then are you both doing to revamp the long disproved characterization of the value of SBDs being somehow pegged to one US dollar?

In Steemit user wallets, SBDs are described as, "Tokens worth about $1.00 of STEEM." This is clearly not the case, with one SBD worth about $7 at the time of this post, while one steem is worth about $5.

Per the Smart Media Tokens white paper: "SBD (Steem Blockchain Dollars) are an experimental asset on Steem that relate to the US Dollar, originating w/ Steem’s launch in 2016."

The free market says that the experimental peg to the US dollar is neither enforceable nor applicable under natural supply and demand pressures. It's about time that SBDs are characterized properly, to minimize confusion about both their inherent nature and their valuation potential relative to the steem blockchain.