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RE: The World of Cryptocurrency - Segwit 2X

in #bitcoin • 7 years ago

Thanks for the video, great explanation.
So selling my SBD, for "steem" I'm not 100% clear on, but I gather this is an intermediate step/ way to trade for BTC or XRP or increase my voting/earning abilities with steem power etc.

But I have an other Q. if I can.

At the moment US$ relative to say gold (just as a benchmark) is worth $X / oz

  • If the 'value' of the US$ was to tumble on the open market (lets say a petro $ event of some sort)
    and now hyper inflation hits the USA - due to the USA massive debts

So a loaf of bread in the USA now costs US $1000 instead of current $1

On the open market my 1SBD = 1 US$ are worth a whole lot more, (eg x1000 more!) correct?

So what I (as a steemian) want is for the US $ to crash & become worthless on the world market, and I'd be rich.

So in some ways SBD is a 'hedge' against a failing US dollar.

Did I explain that OK? am I correct?

7 years ago in #bitcoin by
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     7 years ago  

    You're welcome mate. You're welcome to ask as many questions as you like but I'm no expert either. However SBDs are in now way a failsafe against US$ falling. Quite the opposite. SBD relies upon the US$ being strong in order to be worth anything.

    If the US$ were to rapidly tumble then the relative value of SBD would tumble right along with it. So if a loaf of bread costs US$1000 then you'll need 1000SBD to buy a loaf of bread. Then rise and fall together. So if the US$ goes skydiving, then SBD goes tandom, which means we'd all be broke. Get it?

    If you're interested, you can trade both steem and steem dollars for a variety of cryptocurrencies on Poloniex. I'd say increasing your voting/earning abilities is really the only point in having steem power.

    Also, if you have any BTC you want invested by pro's who'll grow it for you at a tiny fee, may I recommend this mob:
    https://mra.usitech-int.com/
    (Don't forget to bookmark it.)

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       7 years ago  

      Thanks for thoughts re US$ + SBD being that co-joined.
      But I do wonder about Steem vs SBD are they just as co-joined?
      ie can steem become 'valuable' while SBD is not?
      if so I'm better hodl steem (or SP) rather than SBD?

      If I'm wrong & all are tied to US$ on an almost parity basis, then I'm concerned.
      ie My gut is telling me a 1929 rerun is just around the corner
      (in fact worse that '29 due to computer trading speeds)

      I looked at poloniex, but USA only ATM I think and they want verification anyhow.
      I don't have any crypto to trade ATM so it can wait, in fact
      I'll wait until more crypto-zombies are awoken & I'll get an anon trading account.

      I hate gov / banks / exchanges having private info.
      Nothing to hide, but big brother privacy has value to me.

      Thanks for link, book marked.

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