I asked someone how is very well informed about this subject . Here the reply he gave mabye you will find
it usefull " Here is what I know. STEEMBackedDollar is like a gold backed dollar or paper gold. It's a note that say you can exchange this for X amount of Y. It was designed to be converted (not exchanged) to 1 USD worth STEEM. I also remember reading that SBD was designed in a way that the amount of SBD doesn't exceed 10% of the STEEM supply. So SBD supply should be 10% the USD value of STEEM .
STEEM marketcap 500 million means 50 million SBD coin supply. I don't know if any of these changed because of recent developments. Anyway the point is as long as the value of STEEM isn't zero the lowest value of 1 SBD is 1 USD (assuming dollar doesn't hit zero)
It's a safety net mechanism that was assumed to be stable but the free market pumped it up. SBD now has $12 price tag and $1 intrinsic Value"
Check his content out @vimukthi. Here is a post of his that goes little bit deeper about the subject steem dollars https://steemit.com/steemit/@vimukthi/my-take-on-what-to-do-about-sbd-free-market-all-the-way Hopefully I helped you engouh to get by !
Could not find a better or more clear answer. Thanks
I see you are helping other people too. That's really great. I've become much disappointing about steemit recently. So I plan to reduce my activity and posting frequency. I don't plan to leave the community. But I had a mental roadmap of redflags and they are popping up sooner than I expected.
Current steemit look like late 2013 Bitcoin for me. I'm not in a position to build anything. But I'm looking for my Dash in the social media space. I'd be active for another year. But I'm already considering my ex-patration. Just giving you a heads up. It's better to be early and rushed than late and screwed up.
So plan your laddering out/exit strategy. Steemit has a lot more to grow and don't sell anything. But that doesn't mean we can't go Galt-Lite (Atlas Shrugged reference)
it saddens me of thought that you may leave steemit . I know were you coming , Some how steemit fails to give the spotlight to the users that really deserve it . The only reason I am steemit right now is cryptocurrency . I want to master that damn elliot waves theorie . I don't like to depend on others . " I'm not in a position to build anything." I am the same boat . What I really learned on the hard way is don't get emotional involved about your post or else it will take toll on you . Luckliy I didn't commit to steemit yet .we are in realtionship is just 5 month old . It's way to early to propose . "So plan your laddering out/exit strategy. Steemit has a lot more to grow and don't sell anything. " I surely will and I won't sell anything .The old me would have sold immediately after few precentage gain . "It's better to be early and rushed than late and screwed up." Very true no one wants to be in a sinking ship . Before I can really shine on the crypto sphere I need to gain a lot of knowlegde and figure out how the marktes work . Galt-lite refernce really good one . I really like their quotes . "Atlas Shrugged"interesting book "I swear by my life and my love of it that I will never live for the sake of another man, nor ask another man to live for mine.” — Ayn Rand" what a beautiful quote .
Can you elaborate on this "disappointing about steemit recently" so we can exchanges notes about this . I want to you perpective . " But I'm looking for my Dash in the social media space." Let me know when you find it
I'm not going to leave. It's just steemit solidified itself as 2013 Bitcoin in my mind. That's how the Dash reference came. Steemit is a great community. Most of the bad actors I see are either people who were early to the party, self-righteous quasi-capitalist whales or just tiny moochers making barely anything while being jelous of everything.. I've been getting $3-10 non-bot upvotes on my recent posts and I have much to give to the community. But there are many flaws arisen due to wishful and naive thinking of dan: https://steemit.com/eos/@dan/does-freedom-require-radical-transparency-or-radical-privacy (I support a hybrid system where privacy-centralisation co-exist with public decentralization. Dash gets this and that's why I love it so damn much)
Just checkout the comments and replies I've had during the past 24 hours and you'll know why I'm think this ship is about to sink. I'll keep everyone posted. I'm not going anywhere any soon.
Almost all problems with steemit is due to a lack of constitution/vision/principles. Censorship free DPoS blockchain isn't specific enough. Digital Cash is specific.
https://steemit.com/steem/@berniesanders/haejin-still-raping-the-reward-pool-is-ned-involved
Just read and don't get involved.
I have read the links . THat @berniesanders guy is a very interesting guy . He knows how to rally discontent/jealous people . But I think his approach counterproductive .You can't force people to join your cause . And he doesn't have the courtesy to bring his message politely . When people give solid agruments against his case he downvotes many other do the same . That's not the way to discuss something . I don't know what his motives are , but haejin gets more visibility every day that passes . Or was it a long his plan ? That would be have been a very beautiful excuted plan . Point people on the wrong direction . If he really was honest about his cause , why not decline payout .He whining about that Haejin is raping the reward pool and one of his post got more than $1000 sbd as payout . What an hypocrite , in one of his comments he is saying don't be sheep. So if follow you I'm not sheep anymore ,who you're kidding . I have to say he made good money in this so called 'Beef'
I let my case rest here
"I've been getting $3-10 non-bot upvotes on my recent posts and I have much to give to the community." I have noticed , I hope you will get more and more visibility every day that passes .Totally agree with there you content is worth sharing.
"I'll keep everyone posted. I'm not going anywhere any soon."
Good to hear!
I get where you coming from that you support the hybrid sytem . Complete transparancy ? No for me