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RE: The SBD:STEEM debt and payouts
Does all this mean that the witnesses will most likely permanently peg the Steem Backed Dollar once it gets back to a $1.00 valuation?
Does all this mean that the witnesses will most likely permanently peg the Steem Backed Dollar once it gets back to a $1.00 valuation?
Not sure what they will do but it can't keep swinging wildly.
I hear that, and it would be nice just to know it will always be $1.00 truth be told, because then I could also use it instead of USD which would be awesome!
Exactly the point of it. It would mean that the Steem blockchain would secure its own tradeability. I think if people understood what that meant in regards to breaking away from fiat completely in the future, they would definitely back it.
I totally agree, but do any of the witnesses have a proposal that we can vote on to peg it, or is this just all speculation at the moment?
The plan is mainly to have it pegged at 1$. So, if it wants to go below 1$, it's going to be subsidized else, it's left flying high...
Ahh, makes sense.