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RE: At least we can be thankful that the SBD is pegged to the dollar..
How is SBD pegged to the dollar? Does Steemit company hold enough dollars to redeem all outstanding SBDs on the market? Do they have 10% of cash to fulfill outstanding SBD/obligation? Steemit is not a registered bank with the US government, so how can they claim to issue currency at equivalence to the fiat dollar? If Steemit company can not meet the outstanding SBD with actual dollars, isn't this counterfeiting?
Don't ask me! lol
I just remember the claim, and thought, well that's BS...
it went to $13 at one time, and they claiming they need to peg it...mmmm.
I think they like to think they are cleverer than the market..a bit like stalin, really...lol
(have a read of my latest post about Stalin, and compare.
Dicuss.lol