Why is the Steem Dollar Marketplace Broken?
Good morning everyone. On the native steemit exchange Steem Dollars (supposed to roughly track the US Dollar) is trading for much lower than 1 USD. The SD seems very important as Steemit grows because content creators like an easy way to calculate the cryptocurrency they receive from contributing to the community.
(steemit native exchange)
Right now 1 steem is trading around one USD but on the steemit exchange 1 steem is worth less than 1 steem dollar. Can someone help me understand the discrepancy? Does the Steemit community just need to grow trading activity. Thanks.
UpVoted... I was reading this morning about an effort to stabilize the SteemDollars an effort by Steemians. Now @john-robert that You post this, I prefer to know more...
Do you mind sharing that post?
I wish I can @john-robert and I have lost track of it. I shall try searching. It is about a group of Steemians inviting Us to UpVote a post, and the accumulation of wealth from the donation, will be pump into stabilizing SteemDollars using a bot.
Ok thanks @zublizainordin I will search as well. That sounds like a worthwhile effort.
Found it. This is it... https://steemit.com/minnowsunite/@cmtzco/steem-stabilization-project-2017-11-13
Great thanks. I voted. And am going to keep researching what can be done here.
I pray all will be smooth @john-robert back to Order.
+100500
I was going to make a post about this gap between Steem and SBD but decided to just respond to your post. There are rumors of new investors in South Korean getting involved in investing in both Steem and SBD. The more demand for the current supply is pushing prices up.
Fundamentally 1 SBD is suppose to be worth $1 USD, but currently it is ~$1.60. Steem itself has been within its range near the $1 USD. The current market prices between SBD for Steem is because of the price of SBD not aligning. In the long run SBD will have to fall back to paraity while I hope Steem rises.
@mawit07 thanks for the response. Interesting about the SK investors. I'll continue to watch and investigate.
It was doing weird things when I was trying to utilize it as well
Maybe this is just beta growing pains, but one steem dollar should trade closer to 1 steem if steem is about one dollar!
"one steem dollar should trade closer to 1 steem if steem is about one dollar." I concur
I’m assuming because it’s two separate currencies doing what they do.
the only problem is the value otherwise the system is ok
Stable value is important for the content creators who make Steemit a great platform.
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