What's confusing to me is that SBD is just a placeholder. I know the original whitepaper is out of date; however as I understood it, each SBD is a holder containing roughly $1 worth of Steem, so if Steem is 0.50 then 1 SBD has 2 Steem in it.
If Steem is $2 then each SBD has 0.5 Steem in it, and so on. So surely any price fluctuations are temporary, as we wait for the Steem price to settle no?
Please explain, in as simple terms as you can.
Thanks
Cg