You are viewing a single comment's thread from:
RE: SBD isn't broke: How SBD works on STEEMit
SBD is worth exactly $1 worth of steem on the internal market. Outside markets may vary because of low volume.
SBD is worth exactly $1 worth of steem on the internal market. Outside markets may vary because of low volume.
@bergy I believe you are incorrect. Check this out:
2.41 STEEM per steem dollar.
Now let's hit up coinmarketcap.com
STEEM = 2.10
Now, let's combine, shall we?
Internal market - 2.41 steem dollar per steem-- so either it's not exactly $1, or the internal market strongly diverges somehow.
because if we leave the internal market, we find it matches prices on the internal market nearly perfectly:
SD = $.85
STEEM = $2.10
2.10 / .85 = 2.47 ....... just .6 away from what's going on on the internal market.
Point is that I think that the external prices are being counted on the internal market.... and of course as both are markets, they should influence one another. @steemulate seems to have the right direction in terms of patching this issue up.
**I leave this poor reasoning on my part here for posterity. **