Aren't Steem Dollars (SBD) kind of redundant / unnecessary / confusing ?

in #steemit7 years ago

Steem already is a crypto token that can be exchanged. I get the importance of Steem Power (SP), and I think that's really cool. (Actually I'm not totally convinced of why we can't just use Steem instead of Steem Power.)

But what is the usefulness of Steem Dollars? So it's pegged to the USD, so what? Steem is exchangeable to USD already. It just makes the whole process of joining and participating in Steemit more complex and confusing for new users.

Simpler is better! But, maybe this is all necessary and I just don't understand why.

Sort:  

Congratulations @enchant! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You published 4 posts in one day
Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

When I first joined Steem ... I also got confused as to all the different options from Steem to SP and SBD. I agree it can be a bit confusing for new users, but perhaps these options are laid out for much more complex reasons. Looking forward to hearing one of the long-term experience SteemIt users explain why SBD is around.

Thanks for your reply. Yeah I'm also looking forward to it lol.

I'm here for the reply.....

From the white papper, id say its because they put a limit on the "powering down" from sbd to steem, i think to attract long term investor, and limit mass panic selling.

Congratulations @enchant! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You got your First payout

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Coin Marketplace

STEEM 0.17
TRX 0.16
JST 0.029
BTC 75243.81
ETH 2872.09
USDT 1.00
SBD 2.49