Are you saying then... it is totally ok that SBD Is being currently paid at $10 or more? i have heard lots of people lately saying that it is bad for the Steemit ecosystem and that in the long run it will blow everything.
Because i am a newbie myself, both as a Steemian and as a crypto currency user / invester i have no idea whether this people are right or not... as a first look, to me it seems great that SBD is $10 or more each. Because well, you would be making more money from each post. Meaning more rewards from writing and creating.
For instance, a couple days back when SBD was $1 , your post ( this one right here , currently $4.43 SBD) would be earning like this : When doing the 50- 50, and deducting the 25% off for curation, would leave you with around 1.66 SBD to either cash out if you wanted to or to use to buy steem and power up (also if you wanted to.). But lets say you are a Venezuelan , actually relying on Steemit and what you earn in it to make a better living for yourself and your family. Since the situation is so bad right now and on your 9 to 5 job only makes you $8 a month!
So yeah, you definitely would want to cash out what you are earning.. so, this post is paying you 1.66 SBD, at $1 , or maybe $1 and some cents .. so... being optimistic they are actually giving you $2UDS!! for writing about stuff you like or care about! . that is awesome!!
But now... today for example, the SBD is no longer $1 and some cents.. right now as i write this posts .. it is worth $11.13 !!! meaning that... when you cash out your 1.66 SBD you are being actually paid $18.47 usd!!! how AWESOME is that!! and that is just one post!! this post!! i bet you have posts that are worth way more than that!! isn't that the dream? specially when you are in Venezuela ( i am not, but many Steemians are)
At least that's how i used to look at things.. but now so many people is saying is a bad thing, i don't know what to think anymore.. since i have no idea how block chains work and how crypto actually work and how Steemit works.. i just know what I've been able to learn in 1 month and 1 week that i have been a part of Steemit.
So.. tell me. Is it good or is it bad? will it hurt us in the long run or will it be beneficial in the long run as it is short term? God i am confused! haha!
Thanks for making a long reply. The easiest answer is : 1 USD bill is worth more than the face value in Venezuela. Is that premium Bad? Nope. It's neutral. It's set by the market. If some arbitrary entity like a Gov or a bunch of devs set the price, It's one of the worst things that could happen.
But the current scenario is simply the market paying a premium for SBD which always worth exactly 1 USD. If the price exceed the value, it'll eventually stabilize naturally. Think about the value of water during a crisis. The price hike is a market force. Just let it be. That's the spirit of Laissez-faire which is French for "let do".