Excellent information.
I also wondered about the savings account.
Understanding this more brought some thoughts into my head _I wonder if in the future someone might start up investment accounts where if they invested their Steem dollars in an investment that yielded a higher rate than the Steem dollars rate. Like Bitcoin goes up far higher than the dollar for example
But of course thinking about it now that is probably what Whales do when they power down. They convert to Bitcoin an either keep it in Bitcoin or cash it out into regular dollars.
But of course someone who is very good at speculating / gambling on the price of stocks/share or crypto-currency - could increase your Steem dollars better than you could yourself and so such an investment account is feasible. Just thinking out loud.
Thank you.
I am not a trader but I imagine there are many ways to make margins on this Asset and we will see Options Future and Other Derivatives take shape as they pile on the bandwagon. Have you been following what is going on with the MtGox Bitcoins? Some were recovered and Hedge funds are now speculating on them, paying off people to get the value of their claim from MtGox when the court case finally settles.
For the everyday user/writer/blogger the Steem Dollar provides a currency peg that has low volatility compared to STEEM. The golden rule of investing (for stability) is to match your assets and liabilities in currency. If all your liabilities are in Dollars then its very useful to have a crypto currency that is pegged to the dollar. If your investing for high risk/returns this doesn't apply.
It not inconceivable that in a few years when STEEM is more widely used though that its less volatile than the Bitcoin or even the Dollar :)
Good points.
Not heard about the MtGox Bitcoins. The name scares me to death lol!
Thanks