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RE: New to Steem - Tip 5 - Steem or SBD's ?

in #steem • 6 years ago

I really really learn a lot from this video, like you said there is no consensus on the price of the two sbd and steem. You actually enlighten me more on it. People tend to hold onto sbd since it is the highest value when it comes to payout, with the 5 tips I heard from you today, I'm going to absolutely make a rethink.
When I joined steemit in February the two has the same price even sbd seems to be the highest can you give me more insight on that?

6 years ago in #steem by
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     6 years ago 

    Truth be told even the witnesses (the ones who make the decisions) can't agree on what the future for SBD should be.

    On the one hand some top 20 witnesses want to change the algorithm, the code of the blockchain to peg the SBD to 1 USD, meaning that it would work exactly like Tether, having no way of moving on either direction. There are even propositions put forth for the code to do this, and the arguments are quite valid.

    • How could you effectively sell, lets say food with SBD if once you pay for something either the merchant or the costumer will be upset a few days later due to volatility?
    • It was not the initial intention of it, might as well keep everything with steem

    On the other hand.- the higher prices of SBD attracted a lot of new writers and it gave the ability for tiny accounts, for plankton to actually make some decent money. Functionality aside, this is a good thing for making Steem mainstream.

    I speculate

    A hardfork is on the horizon to peg the SBD, specially since the volume from Korea seems to be drying up. When will this happen? no clue... but if you have seen the.

    https://steemit.com/@burnpost

    Account... look at it... that is part of the plan..

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       6 years ago 

      Why is it that the outcome of the payout favour sbd more than steem, don't you think there is something not really clear enough. I'm afraid what will be the future of sbd and even writer that aren't aware of this now

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         6 years ago 

        I think the confusion is as follows... if SBD goes back to 1 USD, effectively you would be making more SBD's on your posts.

        To make it simple... if the if you got 10 USD payout displayed on your posts, meaning that is how much you are supposed to get paid. it would pay you 10 SBD's too.

        Today, it will show a 10 USD payout and pay you 3.3 SBD because of the current price of SBDs. Does that make sense?

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           6 years ago 

          Yes, absolutely. You really explain it in more details. Thanks for sharing such amazing experience on here. I really learn a lot from you today as usual, can't wait for more update from you

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