WILL SBD RISE AGAIN???

zoeroces (52)in #cryptocurrency • 8 years ago (edited)

It's been more than a week since SBD keep sinking. Everyone's wondrin' if it will rise again.

Well, that's a big question to me too. Lets just wait and see. :)

@surpassinggoogle is such a generous person and has a very big heart for all of us here. Please support him as a witness by voting him at https://steemit.com/~witnesses and type in "steemgigs" at the first search box.

If you want to give him witness voting decisions on your behalf, visit https://steemit.com/~witnesses again and type in "surpassinggoogle" in the second box as a proxy.

#busy #blockchain #ethereum #bitcoin

8 years ago in #cryptocurrency by zoeroces (52)

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gems.and.cookies (67) 8 years ago

Hello @zoeroces. I had the same sentiments about waiting for SBD to rise before either cashing out or converting to Steem. However, in one of my posts where I discussed the effect of a higher Steem value than SBD value on our Rewards, I received one comment from a @bycoleman and this made my decision to immediately convert my SBD to Steem. I am copy pasting his reply to me:

Nice article Gems.

Good to know 50/50 pays better.

When the platform was first designed, SBD was meant to be pegged to USD --- 1 SBD = 1 USD.

This design was to help keep a stable payment system for investors and authors. But in 2017, SBD starting going up a lot and the peg could not be maintained. Steem was always intended to have a higher price than SBD and this was true until pretty recently (just before we joined.)

There is now a possibility the witnesses will put this peg of 1 to 1 USD back in place. This is kinda of hot topic and you can vote on it if you care to.

https://steemit.com/witness-category/@yabapmatt/witness-update-help-fix-the-sbd-peg

https://steemit.com/static/search.html?q=SBD+VOTE

The link to my post is here. I visited the links that @bycoleman provided and indeed there is this issue of bringing SBD down to 1USD. So in the meantime that this issue is not resolved, I immediately converted my SBD's to Steem but didn't power up yet as I intend to cash out for a major expense by next month and I didn't want my holdings tied up to SP which takes 13 weeks to convert back to Steem.

I hope this can help all of you regarding your concerns on SBD's.

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