[Question] What is going on with the STEEM/SBD prices?

in steem •  11 months ago

Updated 8:25 PM EST

I'd like to hear your thoughts as to what is happening with SBD and STEEM. My understanding is that SBD was supposed to stay valued at around $1.00. What does this mean for the STEEM economy that it is almost $6.00 ????

I appreciate any thoughts you may have on this. Thank you!

@ironshield

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I have been writing posts not knowing Jack about cryptos and how steemit works. Don't ask me what I don't understand - it's everything. Hell, if all the money I have made disappeared, I wouldn't even know what to say to get it back. I confess I am a steemit illiterate. Somebody please save me!

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You are new, i guess. Welcome to steemit. You can learn from asking specific questions from older users by commenting your question through their post and has time goes on if you are patient, you would learn.

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This is good advice. @ironshield

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Thanks for the guidance. Appreciated.

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Hello @rabamaker, nobody is born knowing this stuff. Fortunately there are many knowledgeable people here that enjoy sharing what they've learned from experience. I have some limited experience myself, but this price gap is mystifying to me.

I wrote an article last month for new users on Steemit. Check it out. @ironshield

https://steemit.com/steemit/@ironshield/steemit-what-is-steemit-blogging-blockchain-decentralization-curation-huh

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Thanks. I have read and bookmarked your article for future reference. Thanks.

Idk, but I saw it at .29 cents and bought $5.00 Lol. Buy low and sell high! Mama needs a new tractor....

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I wish I had held on to my SBD instead of spending it for STEEM for 0.89. Oh well. @ironshield

My question, is why is the value of SBDs pegged at $1?

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It's been stable at around $1 since i've been on here. The idea is that when STEEM is low, you can purchase it using SBD (to reflect the US dollar), then when STEEM is high, it could be sold back to SBD.

It only works when SBD stays stable in price, around $1 USD. Now, when we earn some SBD, it's in our best interest to immediately sell it for STEEM at about 3:1 or hold on to it in case it increases in value even more! @ironshield

Not sure, but looks like a good opportunity to grab hold of for now!

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That's what I'm thinking. I thought it would have dropped back down by now, but it's up. Way up. I wasn't expecting that at all! @ironshield

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Was ready for the crash...however it kept climbing!

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