RE: Are You Really Playing The Steem Long Game?
I like what you said about the market being right. I agree.
For the life of me, I cannot figure out why someone would pay $3.50 for something worth $1 of STEEM but hey, I am not the one doing it so I dont have to understand.
I believe we just let it go. At some point, the amount of SBD out there will reach a point where the market crashes. I dont know what the point is, I just know it exists. Is it 15M? 20M? 40M? Whatever the number is, we will hit it.
The way I look at it is how much STEEM does it take to pay back the SBD.
When STEEM was $.80 and there were 3.5M SBD outstanding, it took 4,375,000 STEEM.
Today, with 10M SBD, STEEM at $3.20 requires 3,125,00 STEEM to clear out the SBD.
So the ecosystem's liability is actually less.
To me that is the important variable since this ecosystem prices all in STEEM.
How much further is debt is the ecosystem? In terms of STEEM, since November when STEEM was $.80, the debt load is actually less.
Out there?
Why?
Debt to who? Who's debt and What for?
Suffice it to say I take it that you think that STEEM is some kind of "commodity" backed currency while SBD is some "debt/fiat" currency, why you think that those tokens are distinct as that boggles me because they are created by the same function, hence why wouldn't in essence and form be the same.