SBD Peg update
Last week the peg of the SBD was restored since we had a week of solid rises in steem price. But as so often a good week is followed by a bad week. Steem prices are again down and the peg is broken once more.
But not all things are bad. When the peg was restored a lot of people converted their SBD and the number of open SBD has been going down somewhat. This pushes down the steem price needed for a working peg. Even when the price continues oscillating around the 0.3$ line, we will eventually have SBD back to almost 1$.
The plot below shows the hard peg in blue and the real peg taking into account conversion risk in orange. The x-axis is the price of steem in $ and the y-axis it the peg of SBD in $. The thin black lines are the current market prices of steem and SBD.
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Again the market slightly undervalues SBD which should be slightly above 0.9$. The trust in SBD has taken a big hit and it will take some time to recover. Converting is profitable but only marginally so.
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Gotta admit, I still have no idea how the peg works. I'm not picky about which token posts pay out in though. It all spends the same at Homesteaders Co-op.
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