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RE: IMPORTANT!!! SBD DROPS BELOW $0.80!!! HERE'S WHAT WE CAN DO TO HELP RESTORE THE PEG!

in #steemit • 8 years ago

I'm sorry. I don't think you know what you're talking about. The system treats each SBD like 1 USD. If you use the convert option for example, no matter what the price of SBD is in the free market, it will treat each SBD like 1 USD.

8 years ago in #steemit by
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     8 years ago  

    Ok you might not be completely wrong a bout SBD being 1 USD, but here is a better explanation. Maybe it's outdated?

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       8 years ago (edited) 

      The steem system doesn't treat steemdollars like 1 USD. See below.

      Another Updated Source

      Steem dollars are basically IOUs for however many steem tokens it takes to give you a USD worth of value when you cash out. If steem tokens are trading for $0.50 and you go to cash out one steem dollar the steemblockchain protocal will give you 2 steem tokens in exchange for your 1 steemdollar leaving you with 1 USD worth of steem token.

      $1.03
      • Past Payouts $1.03
      • - Author $0.78
      • - Curators $0.26
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       8 years ago (edited) 

      You just contradicted yourself and confirmed what I said. :]

      $0.03
      • Past Payouts $0.03
      • - Author $0.02
      • - Curators $0.01
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