I have wondered about the Steem Backed Dollar myself. I am surprised that more steemers have not responded to this post yet. I am upvoting this post because it brings up important questions: How does the SBD work? and Whys is it not currently valued at $1 on Bittrex?
You are viewing a single comment's thread from:
it is its own currency no? like this Australian dollar? meaning it has its own independent value?
They are backed by apprixmately $1 worth of steem at any given time (based on the 7 day average price of steem)
Join our beyond bitcoin hangout and we can explain all of this. :)