18:30 UTC Steem is at $4.36 and SBD are at $3.63, this is good news as any increase in price is reflected in the value of your account on Steemit.
Now does the fact that Steem is now more valuable than SBD affect us as users? Well the way I see it, while you will be getting less Steem for your SBD your SBD are still worth way more than the much sought after parity with the USD that many witnesses want. This means that you can change your SBD for USD at a favorable rate of 3.63 SBD per USD or you can power up the SBD selling it for Steem and still get a lot more value per USD. So I think that as long as SBD continues increasing in price against the USD we as users are OK, the problem for us would be if it goes back to parity with the USD.
I don't really know why some people want it to go back to parity, it is against the user's interest and what profit is there for others? I have asked this question before and according to the answers I get the answer is that a lot of people just don't like users getting too much money for their work.
SBD up is an awesome think it means you get about 3.5x more SBD on your posts
Bloggers always want the price to go up to earn good profit
Kryptonia @bitcoinpaul
In the short term yes, a high SBD price is wonderful for us bloggers / miners, but in the long term if SBD were really pegged to 1 USD, SBD would become an extremely interesting cryptocurrency (similar to Tether) and this would also benefit Steem and the whole ecosystem.
OK, but in what way would it benefit? I have asked this multiple times and the only answer I get is: Because it would. No evidence, no logic, just because it would. I mean I would like an answer with specifics.
A pegged SBD would compete with Tether and could also become a practical cryptocurrency for payments since the price risk is gone. Demand for SBD would shovel over value to Steem, because this is how the peg would work as Steem as the underlying crypto. Of course there is no guarantee, but it would be an interesting concept and experiment to have a stable, efficient, open source and transparent cryptocurrency.
Yes but what we would be getting is a coin (SBD) pegged to something that is supposed to be constantly losing value (USD) which will eventually just cease to exist- this is said by all witnesses and most people who are in some way connected to crypto, so what is the benefit in that? A constantly decreasing in value SBD? And in many articles I have read there are serious theories about Tether being a scam.
A pegged Steem Dollar would be an interesting crypto for the transition phase, as long as the USD remains relevant. While Tether is intransparent and may even be a scam, SBD would be an open and transparent contender.
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