SBD is pegged to the US$ by an averaging mechanism. You can use steem (Not the internal market) to convert your SBD to steem, and it will destroy the SBD and create enough steem to match the 7 day average price. This does not stops spikes from happening, but it will on average, be about equivalent to a US$
The value of steem blockchain dollars comes from the fact that they are redeemable for steem. If volume increases significantly then i dont see the imaginary peg holding. There is only 3.5m sbd after all. So i guess sbd will not be = 1usd without some form of intervention and code change
Yup sbd is not 1.54 that explains it
I got confused earlier as well... then I realized that the price on the steemit market is sbd/steem. Coinmarket cap is against USD.
It happened because the price a steemdollar is not $1.
Yesterday, SBD was up over $2 and some say spiked as high as $5.
Honestly prob not a good thing. If it can go higher it can go lower then dollar. But that explains it!
SBD is pegged to the US$ by an averaging mechanism. You can use steem (Not the internal market) to convert your SBD to steem, and it will destroy the SBD and create enough steem to match the 7 day average price. This does not stops spikes from happening, but it will on average, be about equivalent to a US$
That's price versus SBD rather than USD. SBD is selling at a premium on bittrex atm.
I see sbd is 1.54 currently
So there goes the peg to the dollar
Sbd is supposed to be pegged to usd , it's not ?
The value of steem blockchain dollars comes from the fact that they are redeemable for steem. If volume increases significantly then i dont see the imaginary peg holding. There is only 3.5m sbd after all. So i guess sbd will not be = 1usd without some form of intervention and code change
WTF!?!?
you know hat to do geneeverett!! perform the arbitrage! buy on market y sell else where!
I think your first screen shows Steem in SBD? Since the SBD is currently pretty high, 1 Steem is only 0.629 SBD
Sbd is supposed to be pegged to dollar
Gotcha . So the dollar peg is out the window
Steem is supposed to reward quality content
OK ! Haha this makes more sense now !! Wow the SD is pretty high Wholly Crap !! I had 24.00 in my wallet I just sold for 38.00 steem !!! Haha !👍😀✌
Haha LOL! 😂👍😂👍😂👍
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