One of the particularities of the Steemit ecosystem is the existence of a "stablecoin", Steem Blockchain Dollar, which exists "on top" of the main currency of the blockchain, the STEEM. I used quotation marks because SBD is not really a "stablecoin", because it's not hard pegged to the USD. Instead, it uses a "soft peg", being denominated as "$1 worth of STEEM". Even in this situation, the presence of a "relatively stable" token in parallel with the main one offers a lot of interesting opportunities.
Lately, SBD went back towards $1, but at the same time STEEM seemed to engage in a downtrend too, and it may even go under $1. At this point it will be worth less than 1SBD and that will generate a few interesting situations.
Here are just 3 of the things that may change if STEEM will go under $1 (just want to tell you first that I was on the platform even when STEEM was traded for $0.16).
1.. Conversion Of SBD May Be More Profitable Than Market Price
There is a "conversion" option in the blockchain (which was taken out when SBD went way above the peg) which makes conversion of SBD to STEEM after a period of 3 days. This may prove to be an interesting alternative if STEEM goes under $1, because it may translate in a better price for STEEM.
2. You Will Get More STEEM Than SBD In The Rewards
Yes, that's a positive, if you ask me, because you will get some really cheap STEEM. I still remember when I was getting around 5 STEEM for 1 SBD.
3. A Lot Of Pressure Will Disappear
There is this psychological level, where STEEM is worth more than a dollar. If it goes under, it somehow feels like it doesn't matter that much. The perceived value is dramatically less, even if it's just 10 cents under $1. But the immediate effect is that you're not that focused on the reward, and more focused on the interaction. A lot of the current pressure will disappear. It's a good training.
All in all, I don't think that STEEM trading under $1 will be a tragedy. I've been there before and I know how it is. There is value to made in any context, if you really want to contribute.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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