Difference Between STEEM & SBD According to Your Fellow Steemian(s)

in #steemit7 years ago (edited)

10899839-Abstract-background-with-silver-and-gold-colors-coins-Stock-Photo.jpg

A week ago, I posted asking for simple answers regarding primary difference between STEEM and SBD.

https://steemit.com/steemit/@chelsea88/giveaway-of-2sbd-to-the-person-s-who-can

Here, I wanted to do a compilation of the great answers received to help others conceptualize this.

@geordieprepper
"I think STEEM is the reserve like a precious metal or commodity that SBD is pegged to. Kinda like in the old days where you could take notes and exchange them for silver and gold. You know, those good old days of actual real money instead of these worthless promissory notes we've been forced into using. Try taking a note to a bank and ask for what it's promising on the note. I did. They didn't even know what I was talking about."

@thatsweeneyguy
"SBD is SUPPOSED to be worth exactly one US dollar worth of STEEM.
STEEM is a cryptocurrency, who's price fluctuates just like bitcoin.
STEEM can increase massively in value, while SBDs are just tokens and are supposed to be worth a set amount.
However, with volatility always a variable, demand for SBDs are higher than expected, making them worth a little more at times"

@mrosenquist
"Steem is the highly variable cryptocurrency you spend, while SBD is the stable asset you hold."

@cosmicfontaint
"SBD was created with main aim to show users what is the USD value of their posts and comments."

@simmbrare
"SBD can always be transfer to 1 dollar exactly no matter how much the price of steem fluctuates whereas the price of a steem coins will go up or down in value so it is less stable then sbd. There u go."

Got some great answers and appreciate the knowledge imparted. Hope it can help others! Have a great day and, as always, full STEEM ahead!

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Pretty good summation and some great answers. I've explained this to my girlfriend before, and framing SBD as a debt instrument (worth $1 of Steem) and Steem as the actual currency works pretty well. :)

Thanks for doing a write up on this. To be honest cryptocurrency is a new thing to me but the more time I spend here the more I start getting the picture.

Sure! I am no expert on it myself that's for sure! !

Thanks for the post. I'm new to the digital currency world and you helped make things a bit clearer for me. But I still have a long way to go😀

Me too! But I am glad to have helped!

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