The value of the steem dollar has continuously fallen over the last weeks but it simply doesn't want to go down to 1$, which is where it's actually supposed to be at. Instead it still hovers at about $1.75 USD at the time being.
A look at the chart shows the downtrend of the Steem Dollar but it's not really anything special compared to any other cryptocurrency due to the major bearish movement the whole market experiences since the beginning of this year.
Of course I'm not really unhappy that it doesn't want to go down as it benefits us all in some way but only in the short run. A stable steem dollar could do so much more for us due to businesses being able to calculate with it having a solid value of 1 USD instead of looking at an extremely volatile asset.
The big guys won't move in and start to accept an asset they can't rely on. In general businesses got jobs to maintain and need to be sure that the money they earn is still worth the same a week later. So yes, I'm hoping for a stable steem dollar in the long run but don't mind enjoying a higher valuation as long as it lasts.
What's your take on this?
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SBD will be a vestigial appendage in a few years. STEEM should start working on a LN interface so atomic swaps will be available in the future. Trade your payouts for USDT or TUSD if you want something stable.
A very thoughtful post! I agree with You, that the 1$ level to stay at would be much sonorous, but on the other hand, it's not that bad for the reputation of the STEEM dolar, to hover at these levels, as it speaks to investors:"I bring more than the promised value to the table!" A substance for reflection I guess🤔
Anyways, thanks for sharing Your thoughts🙏🤙
Posts like these are the best ones, some people (like me) don't know yet how to know about SBD prize and you put it here with your example. Thank u mate. Besides it's really nice that SBD doesn't want to go down, In that way this platform will be better than better hahaha.
I agree with you @steembusiness ! SBD as a stable coin will bring more investors and business to the Steem Blockchain.
Regards, @gold84
I believe it's correlated to the Steem price. So if the market and Steem go up again I think the most likely scenario is that SBD also goes up.
I don't believe that the price will go down to $1 since it hasn't been there for months. And even if it does it might go up so now and then.
I also expect to see more pump and dumps in the future. Just like 2-3 times a year.