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RE: Yesterday I bought some SBD
Bekanntermaßen inflationiert steem und somit können überhaupt Payouts bezahlt werden. SBD werden nach genau festgelegten Regeln produziert und dafür werden "virtuelle steem" gebunden.
Die ausgeschaltete Funktion "convert to steem" löst die Bindung auf und SBD verschwinden, während virtuelle steem zu realen steem werden.
I think virtual supply is simply a metric that adds the sbd to the steem supply to come up with a more realistic supply number, but there is no bucket of steem to back the sbd. If i am not mistaken the sbd simply get printed or burned when created or converted, just as the steem do. As such the peg to the bottom will work as long as the marketcap of steem does not fall to fast. There is no simple way to look this up so maybe i am wrong. My knowlege hereof simply comes from asking dev and witnesses.
Detailed information about the steem/SBD eco system you can find in articles of @timcliff, e.g. https://steemit.com/sbd/@timcliff/sbd-debt-issue-riding-the-steem-price-roller-coaster
He figures out that SBD is a debt in steeem.
Still confused. There is no bucked of steem to back the sbd. The conversion just prints steem unless the debt linit is reached. Am I wrong?
I surrender.
White flag (not a steemit flag) by Dido: