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RE: Beyond SBD: A Stablecoin for the World.
Hi @hatu. It will be interesting to see if it works as the markets are crying out for a safe haven. SBD has done pretty well compared to all the other coins but it still has dropped down to 75 c today. For a currency that should be pegged to the dollar it is still a big drop.
Given that the current bear market haven't had a negative on gold means a stablecoin based on them would fare quite well. SBD has been great because it has been backed by something a lot of people have faith in. However, gold has the backing of the faith of billion of people.
can not understand how sbd can be more than 1.01 or less than 0.99 ... It was said several times this will be the only task of sbd - to keep steem afloat. What about TrueUSD,USD Coin, Tether,STASIS EURS ..... how can they keep their price?
Right now, SBD does not give you $1 worth of STEEM. It stopped giving $1 worth of STEEM when STEEM price fell below $0.49.
Stablecoins don't necessary mean fixed prices. I doubt gold-backed tokens would be valued at the same exact same price forever. They'd actually appreciate against the dollar, in time.
That's what I'm talking about. When I started using Steem, sbd was over 2 usd. And I thought....that word steem "dollar" is bunch of baloney. I think same thing now
I'd say it stably follows the NPV of the underlying STEEM.
Yes it does. That's why it would be better to have dollar or gold based cryptos in blocktrades exchange
Kinesis's development of a gold-backed stabelcoin would trump fiat-backed stablecoins. It won't be deflationary or at political risk.