Please crash more, dear Steem.
After a century of rocketing(time concept is diferrent in the crypto world), SBD finally decided to take a break and land back on Earth. It restored to the USD pegging price of 1 Dollar.
Like many others, I converted some of my STEEM to SBD during SBD price was down to $5~6 which was low at that time, hoping one day it could moon again and I would earn some free STEEM.
And it is $1 now.
So I hope STEEM can continue to go down, maybe below $1 and by that time I definitely will convert all the SBD to Steem again. Yes, sounds like a plan.
I'm hoping Steem to crash further, am I gone crazy?
今天一切都打回原样咯，SBD 经过漫长疯狂飙车，今天终于再度尘埃落定，去加油站歇歇了。记得几个月前我还在 SBD $6 左右的低峰用 STEEM 换了一点，期待某天它再上高峰时可以小赚一笔。
现实给了我很好的教训。
所可以期待的就是希望 STEEM 持续下跌，最好跌破 $1 那我立马就会把所有 SBD 买入 STEEM 了。对，就是这么办。
在这么低迷的市场，我居然还要 Steem 跌下去，希望不是傻了吧。
整个市场都低迷，steem也飚不到哪去~~~只是现在文章收益已经低得可伶了。
继续找找，其实还是有很多管道可以赚钱的。
I do not know the mechanics but assuming sbd is as fucked as one would believe it to be and the system is not able to compensate or whichever it is entirely possible it can go lower, @exyle did a video about this recently and seems if it goes lower we will get more steem in exchange for less sbd? So damn drop SBD drop.
SBD won't drop much lower, when it drops below $1 it starts earning interest so it basically shouldn't really ever drop below $1 for long at all. STEEM on the other hand could very well drop lower
Oh so that is what exyle meant with they then need more steem to cover the debt? "interest" . I am going to try and understand this , but maybe in the grand scheme as someone who kinda just posts stuff I should not be to concerned with any of it . https://steemit.com/witness-category/@eonwarped/sbd-debt-ratio-10-behavior
No that's not what he meant. Interest creates more SBD to encourage holding it. And not all witnesses may agree to set an interest rate (also I forget where the interest comes from... and how it gets distributed) The real mechanism propping SBD is that the conversion mechanism lets you swap the SBD for 1 USD worth of steem. So it incentivizes people to buy SBD and use the conversion to get more STEEM than they would otherwise get from directly buying STEEM.
Exyle's post talks about the case where you don't actually get 1 SBD worth of steem when converting (which is when the debt ratio gets too high).
I am going to shut up now, and just stalk everyone's comments instead until I can fully understand this :) The conversion method you describe does make things a bit more clear thank you.
They pretty much sums it up how the SBD is working. Give those answer a good digestion.
这什么鬼配图😂
什么鬼这三字完美诠释了图中女主的心情