You really shouldn't dispense information when you don't know what you are talking about. There official name are Steem Backed Dollars and they are meant to be worth "at least" $1 USD. Witnesses are required to take action to prop up the value if they fall below that. Here's a useful link for the ignorant.
pfft, they still have a correlation to the $ and witnesses are still required to act if they fall below the $. You stating that they are not related to the $ is still false information.
It seems that in various official documents(steemit posts are not official documents). They are using different naming. I will be submitting a github ticket request that the naming be corrected so that all official documents use the same name.
What's important however isn't the exact name It's the fact that there is a tie to the $ and that witnesses are required to act if it falls below the dollar. Stating otherwise is false information.
"Steem Dollars are referred to with the symbol SBD, an acronym for Steem Blockchain Dollars. Creating SBD requires a combination of a reliable price feed, and rules to prevent abuse. Providing a reliable price
feed involves three factors: minimizing the impact of an incorrect feed, maximizing the cost of producing an incorrect feed, and minimizing the importance of timing."
Lmao - Who is the idiot now idiot, read the updated whitepaper smart-ass!
You really shouldn't dispense information when you don't know what you are talking about. There official name are Steem Backed Dollars and they are meant to be worth "at least" $1 USD. Witnesses are required to take action to prop up the value if they fall below that. Here's a useful link for the ignorant.
Steem Backed Dollars
Also here is a good post for those interested https://steemit.com/steemit/@dragosroua/sbd-actually-means-steem-blockchain-dollars-not-steem-backed-dollars
But you could have bothered to check properly first.
pfft, they still have a correlation to the $ and witnesses are still required to act if they fall below the $. You stating that they are not related to the $ is still false information.
It seems that in various official documents(steemit posts are not official documents). They are using different naming. I will be submitting a github ticket request that the naming be corrected so that all official documents use the same name.
What's important however isn't the exact name It's the fact that there is a tie to the $ and that witnesses are required to act if it falls below the dollar. Stating otherwise is false information.
PS - for calling me an idiot enjoy your flag.
From the WHITEPAPER page 9!
"Steem Dollars are referred to with the symbol SBD, an acronym for Steem Blockchain Dollars. Creating SBD requires a combination of a reliable price feed, and rules to prevent abuse. Providing a reliable price
feed involves three factors: minimizing the impact of an incorrect feed, maximizing the cost of producing an incorrect feed, and minimizing the importance of timing."
Lmao - Who is the idiot now idiot, read the updated whitepaper smart-ass!
Link: https://steem.io/SteemWhitePaper.pdf