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RE: 😂 STEEM Dollars Are Going For $2.31 On Bittrex! LOL 😂

in #steem7 years ago

I've seen a couple of "weird" things like this, lately, too. I think there's a lot of money moving into the crypto space at the moment - which is a trend I think will just continue. That is a high price for SBD's, though - although we could soon be looking back on it in a few months and saying to ourselves, "Damn! I wish I'd bought more when the price was so low!"

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I think you are falling into the same trap as a lot of people. STEEM Backed Dollars (SBD) is pegged to $1 worth of STEEM. So it should always hover around $1. If it is higher than $1 you should sell it for Bitcoin or convert to STEEM through the internal market.

STEEM on the other hand could be worth $0.10 or $100. The market 100% dictates that. I hope that makes more sense.

They are two different currencies.

How's that $1.00 "peg" working out for you, again?
The guy just said it's going for $2.31.
Sometimes it's more, sometimes it's less. I'm just saying it's weird.
Two different currencies? No $#!t, sherlock. ;)

Have you read the STEEM whitepaper?

Have you seen how SBD's were going for about $10.20 last week???

Coin Marketplace

STEEM 0.17
TRX 0.16
JST 0.028
BTC 73503.58
ETH 2603.38
USDT 1.00
SBD 2.42