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RE: ✴️ SBD IS $0.58! IS STEEM BACK DOLLARS DEAD? ☠️ ☠️ ☠️
Do you use skype?
Yeah that all makes sense, what do you propose for the SBD going below $1 like now.
Do you use skype?
Yeah that all makes sense, what do you propose for the SBD going below $1 like now.
Unfortunately all I can propose is wait it out. That's both a short term and a longer term answer. Short term SBD is in the process of righting itself, like a flooded boat with a bilge pump running.
Longer term, the volatility of the underlying backing assets needs to decline some. SBD (nor BitUSD nor NuBits, nor probably DAI, etc.) can not tolerate an environment where the backing asset routinely drops 95% in value and has single days of 20-30% drops. But when we get to the point that volatility of cryptos is similar to gold or stocks, if perhaps somewhat (not insanely) higher, the core asset will still too volatile for most people and businesses to want to hold it directly as a short term store of value (as opposed to longer term investment or store of value) but systems like SBD (maybe not exactly the current SBD, as it still needs some work, but something not far from it) built on top of those assets will work much better, perhaps never failing at all.