You are viewing a single comment's thread from:

RE: SBD: Will it go to $1?

in #sbd7 years ago

Can someone explain to me if SBD's price will be nerfed or not?

If it';s meant to be pegged to around a dollar I worry steems system will kick in at some point and reduce the price (presumably with inflation??)

Sort:  

Follow some of the witnesses for the discussion. Sorry, I dont have a link handy.

And for clarification if i understand correctly sbd is supposed to be one dollar WORTH OF STEEM, not pegged to the dollar. So if steem is at 6 bucks usd you should be able to trade 6 sbd for one steem.

I could be wrong but on the wallet is says "sbd are worth one dollar OF steem".

Capture+_2018-01-24-14-47-11.png

 7 years ago  Reveal Comment

It is a difference with little distinction but it is important to understand the difference.

I don't mean to be derogatory but there is a lot of "dumb" money in crypto.

And Smart money!

Absolutely there is, I agree. I just am aware of people I know personally that invests blindly. It is what it is but intelligence is not a prerequisite for trading crypto.

Apparently what is being discussed now is implementing the option for two way conversions. Currently the blockchain is capable of converting SBD to Steem (note this is different than the internal currency market). The option is being discussed to allow users to convert Steem to SBD. If this happens the de facto unlimited printing possibility would push SBD back to the intended $1 as anytime it was overvalued people would be incentivized to convert & sell.
Also, any calls for Steem and SBD to rise simultaneously are highly suspect. Steem price increases directly create increased inflation of SBD even under the current system.