RE: STEEM DOLLAR NEARLY 14 $ - WHAT ON EARTH ?!!!!!!

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RE: STEEM DOLLAR NEARLY 14 $ - WHAT ON EARTH ?!!!!!!

fitzgibbon (61)in #steemit • 7 years ago

Hi Alla, from what I understood there really isn't a peg mechanism in place for when the SBD gets valued higher than USD, only an upward peg for when SBD is below 1 USD. It will probably correct by Steemians selling their SBD at bittrex for (hopefully) Steem.

What you might expect to happen is that Steem will be converted into Steem Power, adding to the value of Steem :)

7 years ago in #steemit by fitzgibbon (61)

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tipu (67) 7 years ago

from what I understood there really isn't a peg mechanism in place for when the SBD gets valued higher than USD

Actually there is such a mechanism - witnesses can increase SBD supply with Bias variable. They are not doing it though, at least now.

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fitzgibbon (61) 7 years ago

Interesting! Seems the more I learn about Steem, the more I see that I understand very little..

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allasyummyfood (73) 7 years ago

yes i understand majority of people are powering up and spending money on steem ! :)

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