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RE: I thought 1 SBD = 1 US $, always. It is not the case anymore.

in #steemit7 years ago

Well, SBD is just an asset that represents a smart contract. The smart contract is enforced by the blockchain 3.5 days after a conversion is requested in the wallet. You will get 1 usd's worth of steem for every sbd that you convert at the median price feed maintained by the witnesses.
So the smart contract "assures" that a SBD will be worth "at least" 1 usd. In the short term there is no way to hold the peg if the demand is much greater than the supply.

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From the whitepaper, the goal is that 1 SBD = 1 $. I mean this is not the first time someone tries to do it, like bitshares or tether. So are trying to correct the price or no? don't they care anymore? I remember a lot of post about removing SBD but I didn't get everything.

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