Why we need the Steem Dollar (SBD) pegged at $1 USD

in steemdollars •  2 months ago

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Nobody will ever use a Crypto currency to buy anything if that Crypto currency could skyrocket to 1 Million Dollars....

Who in their Right Mind would pay $1 Million Dollars for a coffee ????

Steem could fluctuate from $0 to $1 Million Dollars but the SBD needs to be pegged so that we can actually use it to buy stuff ... food, books, gadgets, silver, gold.... etc etc.

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@dan and @ned are geniuses to think of pegging the SBD.... it makes so much sense now. At 1st I did not understand. They have created a beautiful system if the SBD can stay at $1

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I hadn't considered this... It does make a lot more sense. And, would likely be more profitable for Steemit as a whole in the long run. Great post.

Totally agree. It makes the system work better and functions as a stable coin.

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Exactly

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When is the last time a post paid out in SBD?

When SMT goes live, it will be time to get rid of SBD.

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When will that be ?

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I think the last I heard was Q1 2019. It keeps moving.

The Hard Fork is this month.

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I move my gains to Tether every now and then and would much rather just keep them here on SBD on Steemit.

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If I knew that SBD would always be worth $1 ... I would Park my gains there instead of Tether

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Unfortunately, it isn't backed by the U.S. dollar, it is debt on STEEM.