Great service announcement, Tim. Anyone looking to buy STEEM now should consider buying SBD first and converting. The downside is this will create demand for SBD which is already at $1.06. We saw the value of SBD spike up the last time there was a sudden price spike also. Becuase of this debt instrument, it seems we've built ourselves a very volatile cryptocurrency. At least it's nice to see it go up for a change. :)
You are viewing a single comment's thread from:
Debt should not be volatile generally speaking, unless there is a high risk of default or it has a high fixed rate of interest. Crypto markets are a bit 'weird'. For example, currently my own trading (which normally helps keep SBD close to 1) is limited by the fact that Poloniex's API is broken.
As a short-term thing, that is probably OK. When the price goes up from $1.00 there is more of an incentive for people to sell. It might be what is needed to free up some of the SBD that is in "long-term holding mode".
Yeah, that's a great point as well. Curious to see what will happen.