SBD is Back to USD $1 Peg
I've been seeing the value of SBD drop on exchanges. Bittrex now shows SBD at exactly USD$1.00. The current trading value is 0.00016847 BTC, which is exactly $1.00.
I don't know if it will hold there, or drop much lower, but this is a good sign for the pegging of Steem. SBD has been overvalued for months due to pumping of the price. It had even reached $6 for a while as I recall.
If you haven't been spending you're SBD to buy Steem before now, you might have lost out on buying Steem at a little discount. Unless Steem goes lower than a dollar, then you're winning if you buy Steem with SBD then ;)
Thank you for your time and attention. Peace.
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Haha Man, that graph is a little depressing. I traded my sbd for Steem and powered most of it up so the little that I possess is tied up there. Hopefully, this doesn't all crash and burn lol.
I jest but this is the place I write. This is where I have spent the time to build a little following (it is tiny but I worked for it). As long as it's going I will be here posting my weird opinions and vaguely coherent rants for whatever that is worth.
I've been selling SBD for Steem then trading it back and forth with BTC since I got here. I'm surprised it took this long for SBD to return to the peg. I can only guess that quite a few were HODLing, hoping for another spike. Unless it spikes again when BTC goes back up, that was likely a mistake.
Unfortunately, people might have learned that HODLing when it's $1 is a good idea. If so, we might have a problem.
The SBD/STEEM (debt/equity) ratio stands at 4.09%
It seems almost inevitable so, what happens when it stops printing do you think?
Edit: Please note that the debt/equity ratio is calculated using the Steem feed information, which I believe is a 3-day average, if calculated using current coinmarketcap spot stats, it would be 4.60%
http://steemreports.com/steem-sbd-info/
It stops printing because of the fall in Steem value, I don't know what else happens after that... People need to buy Steem for SBD to come back?
A SBD price outside of the range 0.80-1,20 USD means that people do not understand the concept of SBD...
The printing of SBD will stop when the SBD to STEEM debt ratio exceeds 5%.
The SBD/STEEM (debt/equity) ratio stands at 4.09%
Quite high already.
what will happen if steem goes below $1 which seems possible now. will sbd stay around 1 or will it maintain the ratio of 1.2 or so.
No more SBD is printed.
I am holding a little bit of both steem and sbd. Who knows what will happen to prices.
I gree with your wisely good thinking.
Just looking at the sphera can find out what's going to be in the future.
SBD has been rising and falling with Steem. Steem has been falling so it is impossible to say for sure if the peg is working. In order for us to tell, Steem would need to make a big price move and SBD would need to stay the same.
I noticed. Quite outrageous how far the exchange rates dropped here.
This is what I'm expecting with SBD but not with STEEM. I think it's OK for SBD to stay 1USD but I hope STEEM will go up very soon.
This is really bad...
Let's hope this goes back up pretty soon. Thanks for the infos @krnel