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RE: SBD Debt Issue - Riding the STEEM Price Roller Coaster
Steem has some nice advantages over some of the other cryptos, like instant transfers and no fees. It might catch on.
The SBD aspect of the equation is interesting. What's a better way? Good question. In a sense, I'm not sure why it needs to exist anyway. How does it offer stability to Steem? If it doesn't, then why bother?
But, with the changes coming next week, it's hard to say much about what to expect now anyway. All things being equal, we might be able to make reasonable predictions. But we all see what's happening in the market right now. IOW, all things are not equal. :)
How's that for failing to really add anything to the conversation? ;)
IMO, your thoughts added a lot of value to the conversation! :)
I think it can be argued that it actually does the opposite. To some extent - a lot of what is good for SBD is bad for STEEM.
What it does offer (from what I understand) is that it by itself is a unique crypto-currency that has the potential to provide a stability that is unmatched by other coins that are out there. From the perspective of making crytpo go mainstream - this is one of the potential tools that can help achieve it.
As mentioned in the post though, the stability that it offers does come at a cost.
So, it could be argued that Steem actually adds stability to SBD, rather than the other way around. Very interesting.
I have no complaints or real concerns. Much of the whys and wherefores are not understood by me. But it does offer for some interesting turns and twists. Maybe I'll understand the reasoning better over time.
Unique apart from nubits, tethercoin and bitUSD!
My lack of crypto knowledge outside of STEEM is showing, lol.
It is a really interesting question as to what true value SBD is adding to the community. If we want are planning to take over the world, then I can see value in having a stable currency for users within the blockchain ecosystem. It does come at a cost though.
Tether is actually quite different, in that it is backed by actual USD in a bank. Nubits and bitusd are somewhat similar, though each have their own distinguishing features of course.
Nubits and bitusd are in not really the same thing other than the attempt at pegging to dollar value. Whereas nubits required a group of people to both create and park nubits away, holding both risk and reward. Bitusd and its equivalents must be purchased on a free market via a more prediction-market mechanism.
Let me treat you to a piece of history:
https://m.soundcloud.com/beyond-bitcoin-hangouts/bytemasterblog-nubits
Hope it clarifies things. It is straight from bm (the brains behind steems tech/economy) and was not very popular when i made it because it was considered "FUD" by the nubits community. We see where nubits is today though... bitusd and others still around cause they dont let ponzis get created.
I didn't say they were the same thing I said they were somewhat similar. As far as "where is nubits today", it has a market value of 1.00 USD and a market cap that is about 2/3 of SBD. Seems to be doing sort of okay, but when it comes down to it none of these pegged cryptos has really caught fire in any sort of big way. They all have their issues, including that both the market for them and the mechanisms they employ to manage the peg are uncertain.