1 SBD can be converted to 1 USD worth STEEM. I know SBD has been traded for 90 cents and few times around 85 cents. Anybody who buy SBD at the price could have converted that into 1 USD worth STEEM if they were willing to wait for 3.5 days. Each SBD is backed by 1 USD worth STEEM. If you buy SBD below $1 you are buying USD at a discount (but it's only spendable to buy STEEM)
1 SBD can be converted to 1 USD worth STEEM. I know SBD has been traded for 90 cents and few times around 85 cents. Anybody who buy SBD at the price could have converted that into 1 USD worth STEEM if they were willing to wait for 3.5 days. Each SBD is backed by 1 USD worth STEEM. If you buy SBD below $1 you are buying USD at a discount (but it's only spendable to buy STEEM)