Indeed many wish that the value of SBD continues to stay high. Quite a few Steemit users probably cash out their SBD to help in meeting their daily expenses.
But according to design, SBD is supposed to be pegged to the value of the US Dollar, and what we are observing now is supposedly an aberration, due to various reasons.
The Witnesses are planning to correct that by making appropriate changes at the back end so that SBD goes back to its pegged value. The time that it takes to revert back to $1 could be weeks or months.
for one you can buy sbd on exchanges, secondly i don't see the reasoning behind moving it down to a dollar again aside from the people in charge getting pissy sbd is worth more than steem, but they should be happy about that because they can cash out better. it is not hurting the circulating usd supply since the system automatically adds new sbd every day to be paid out. when we transfer our sbd, we sell it to an exchange for another coin like bitcoin for instance. that usd is already in the real market and if we so choose to cash out then we are not cashing out money on the steemit block chain we are cashing out money on the exchange that is already there... i don't understand why they would lift the 100 sbd cash out limit if they want to go back to $1. It isn't effecting anyone negatively.. i don't know that is my 2 cents on the matter!
Indeed many wish that the value of SBD continues to stay high. Quite a few Steemit users probably cash out their SBD to help in meeting their daily expenses.
But according to design, SBD is supposed to be pegged to the value of the US Dollar, and what we are observing now is supposedly an aberration, due to various reasons.
The Witnesses are planning to correct that by making appropriate changes at the back end so that SBD goes back to its pegged value. The time that it takes to revert back to $1 could be weeks or months.
for one you can buy sbd on exchanges, secondly i don't see the reasoning behind moving it down to a dollar again aside from the people in charge getting pissy sbd is worth more than steem, but they should be happy about that because they can cash out better. it is not hurting the circulating usd supply since the system automatically adds new sbd every day to be paid out. when we transfer our sbd, we sell it to an exchange for another coin like bitcoin for instance. that usd is already in the real market and if we so choose to cash out then we are not cashing out money on the steemit block chain we are cashing out money on the exchange that is already there... i don't understand why they would lift the 100 sbd cash out limit if they want to go back to $1. It isn't effecting anyone negatively.. i don't know that is my 2 cents on the matter!