Difference between revisions of "Steem Dollar (SBD)"
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| − | SBD course isn't fixed, in some times like | + | SBD course isn't fixed, in some times like from May to June 2017 it has been closer to $2 USD. In August 2017 it lowered to $0,8 USD.<ref>'''Coinmarketcap.com''' : [https://coinmarketcap.com/currencies/steem-dollars/ Steem Dollars (SBD)] Retrieved in August 23rd, 2017</ref> |
Revision as of 19:36, 23 August 2017
The Steem Dollar (aka Steem Backed Dollar or SBD) is a token that is meant to be worth about $1 USD, making its value much more stable compared to STEEM (see STEEM_Tokens. To be a bit more technical, a Steem Dollar is a promise to pay one dollars worth of Steem when it's redeemed.
The benefit of Steem Dollars is that business can accept them more comfortably since they have a more stable value. Can you imagine being a shop owner and trying to sell your $50 product for STEEM which a couple months ago would have been for 500 Steem compared to today being less than 50. Pricing their products and services are much easier when using a stable value, as well as knowing that what they've already been paid, won't loose value.
To try to keep the SD around the $1 mark, Steemit's Witnesses (see Steem_Witness) can change the interest rate paid (quarterly) for holding them in your wallet. Lately this interest rate has been 0% with the SBD price being higher than desired. When it gets near or under the value of $1 USD, we will start seeing the interest rate increase.
Steem Dollars may also be converted into STEEM in a process that takes 3.5 days.[1] But there is a quickier option using the Internal market.
Examples
If STEEM course is at 10 cents, one Steem Dollar could be redeemed for 10 STEEM. When STEEM is at 2 USD, a Steem Dollar would redeem for 0.5 STEEM.
Notes
SBD course isn't fixed, in some times like from May to June 2017 it has been closer to $2 USD. In August 2017 it lowered to $0,8 USD.[2]
References
- Jump up ↑ Steemit FAQ: What is the difference between STEEM, STEEM Power, and Steem Dollars? Retrieved in August 22nd, 2017
- Jump up ↑ Coinmarketcap.com : Steem Dollars (SBD) Retrieved in August 23rd, 2017
Links
- @krnel : Ned on SBD: "Does the community want to continue to be paid out in Steem Dollars?" December 21st, 2016
- @ausbitbank : PSA - Steem Backed Dollar printing has been suspended March 2017
- @timcliff : SBD Debt Reduction - A Fiscally Conservative View March 2017
- @steevc : Can SBD work with such crazy numbers April 2017
- @clayop : SBD Overvalued - Facts and Advices for Changing Crisis to Opportunity April 2017
- @chitty : We need more Steem Dollars April 2017
- @clayop : Toward Mass Adoption of Steem Dollar: Is Pegging Really Important? April 2017
- @timcliff : Saving SBD - Proposal to Restore the $1 USD / $1 SBD Peg May 2017
- @someguy123 : SBD is no longer $1, what do we do? (Witness Discussion) May 2017
- @sykochica : Answering Common Questions: Steem, Steem Power, Steem Dollars and What Should I do with them? June 2017
- @shenanigator : Why The Price Of Steem Dollars Is Way Up While All Other Cyrpto Prices Are Crashing June 2017
- @nanzo-scoop : The Flying Pig have landed… Time to stack up them Steem Dollars? June 2017
- @chrisaiki : Stable cryptocurrencies : BitUSD, USDT, Bit20, VIVA, HERO, X8. August 22nd, 2017
Related articles
External links
- Boxmining YouTube Channel : STEEM Explained: STEEM, STEEM Power and SBD Video tutorial by @boxmining, published in 5/8/2017
- 99 Bitcoins : Making Money with Steemit (Steem Dollars and Steem Power explained) Written by Ofir Beigel, published in 10/14/2016
- Andrew Levine YouTube Channel : Steemit 101 - Steem, Steem Dollars, and Steem Power Video tutorial by Andrew Levine @andrarchy, published in 7/15/2016
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