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RE: Bitcoin Breaks Records / IOTA's 500% Gain On News / How CryptoKitties Takeover Could've Been Avoided
Believe me, I am no expert. It is quite unusual though for SBD to be this high. Happened that one time when you look at the chart, but most of the time it is about $1. It is supposed to be $1. I think the witnesses vote to set rates (almost like the Federal Reserve) in order to keep SBD equivalent to $1. In reality it goes up and down though based on market conditions
Yeah, the witness thing is still kind of a mystery to me. Don't have a good idea of what they do or why we need them.
It is a way to keep things decentralized. It sounds complicated, but as an analogy to the US government, it is like electing someone to Congress. Instead of having all of the power centralized to a dictator, it is spread out to people that we can elect.