Tether vs Steem Dollars
7 years ago in #tether by acidyo (80)
$20.61
- Past Payouts $20.61, 0.00 TRX
- - Author $18.58, 0.00 TRX
- - Curators $2.03, 0.00 TRX
Tether vs Steem Dollars
The thing I can't figure out: who the fuck in their right mind would buy SBD at the current price of $1.80, knowing it should be going back down to a buck??? 🤔
My theory about that has been that they know about the conversion, so to be able to buy Steem while converting SBD to Steem they get more Steem without affecting the price as much. But then again that would mean that as long as SBD is on a premium the Steem price should rise once every 3.5 days or so. This is just a theory cause I haven't even checked if anyone is converting or not.
I don't mind if non-stable currencies are above the pegged market value Lol
Much better than being under ;D
Just means more tether when converting from BTC. Nothing wrong with that :) but i do see your point.
I just found your post when doing research for this story I just posted about Steem Dolllars selling for $1.50 on Poloniex now! https://steemit.com/steemit/@bitcoinmeister/steem-dollars-are-now-selling-for-usd1-50-on-poloniex-take-advantage-of-this-odd-situation-now
Some pictures are worth a thousand words and these two are so very true...
nice
Lol.
But your missing something...
Tether has 10x marketcap than sbd.
But still funny when a $1 isnt a $1
Soooo SBD Currently trading @ $1.80....
What's the process of it automatically correcting back to $1? Is there a system that comes into play when it's out by so much?
I get it's a floating currency so does differ, but as far as I understand it autocorrects somehow?