Difference between revisions of "Steem Dollar (SBD)"
From Steem Center
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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. | 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.<ref>'''[[Steemit]] FAQ''': [https://steemit.com/faq.html#What_is_the_difference_between_STEEM__STEEM_Power__and_Steem_Dollars What is the difference between STEEM, STEEM Power, and Steem Dollars?] Retrieved in August 22nd, 2017</ref> But there is a quickier option using the [[Internal | + | Steem Dollars may also be converted into STEEM in a process that takes 3.5 days.<ref>'''[[Steemit]] FAQ''': [https://steemit.com/faq.html#What_is_the_difference_between_STEEM__STEEM_Power__and_Steem_Dollars What is the difference between STEEM, STEEM Power, and Steem Dollars?] Retrieved in August 22nd, 2017</ref> But there is a quickier option using the [[Internal market]]. |
===Examples=== | ===Examples=== | ||
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===Notes=== | ===Notes=== | ||
| − | SBD course isn't fixed, in some times it has been closer to $2 USD. | + | SBD course isn't fixed, in some times like April 2017 it has been closer to $2 USD. In August 2017 it lowered to $0,8 USD. |
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* '''@krnel''' : [https://steemit.com/ned/@krnel/ned-on-sbd-does-the-community-want-to-continue-to-be-paid-out-in-steem-dollars Ned on SBD: "Does the community want to continue to be paid out in Steem Dollars?"] ''December 21st, 2017'' | * '''@krnel''' : [https://steemit.com/ned/@krnel/ned-on-sbd-does-the-community-want-to-continue-to-be-paid-out-in-steem-dollars Ned on SBD: "Does the community want to continue to be paid out in Steem Dollars?"] ''December 21st, 2017'' | ||
* '''@ausbitbank''' : [https://steemit.com/steemit/@ausbitbank/psa-steem-backed-dollar-printing-has-been-suspended PSA - Steem Backed Dollar printing has been suspended] ''March 2017'' | * '''@ausbitbank''' : [https://steemit.com/steemit/@ausbitbank/psa-steem-backed-dollar-printing-has-been-suspended PSA - Steem Backed Dollar printing has been suspended] ''March 2017'' | ||
| + | * '''@timcliff''' : [https://steemit.com/sbd/@timcliff/sbd-debt-reduction-a-fiscally-conservative-view SBD Debt Reduction - A Fiscally Conservative View] ''March 2017'' | ||
| + | * '''@steevc''' : [https://steemit.com/steem/@steevc/can-sbd-work-with-such-crazy-numbers Can SBD work with such crazy numbers] ''April 2017'' | ||
| + | * '''@clayop''' : [https://steemit.com/sbd/@clayop/sbd-overvalued-facts-and-advices-for-changing-crisis-to-opportunity SBD Overvalued - Facts and Advices for Changing Crisis to Opportunity] ''April 2017'' | ||
| + | * '''@chitty''' : [https://steemit.com/trading/@chitty/we-need-more-steem-dollars We need more Steem Dollars] ''April 2017'' | ||
| + | * '''@clayop''' : [https://steemit.com/steem/@clayop/toward-mass-adoption-of-steem-dollar-is-pegging-really-important Toward Mass Adoption of Steem Dollar: Is Pegging Really Important?] ''April 2017'' | ||
| + | * '''@timcliff''' : [https://steemit.com/sbd/@timcliff/saving-sbd-proposal-to-restore-the-usd1-usd-usd1-sbd-peg Saving SBD - Proposal to Restore the $1 USD / $1 SBD Peg] ''May 2017'' | ||
| + | * '''@someguy123''' : [https://steemit.com/witness-category/@someguy123/sbd-is-no-longer-usd1-what-do-we-do-witness-discussion SBD is no longer $1, what do we do? (Witness Discussion)] ''May 2017'' | ||
* '''@sykochica''' : [https://steemit.com/steem-help/@sykochica/answering-common-questions-steem-steem-power-steem-dollars-and-what-should-i-do-with-them Answering Common Questions: Steem, Steem Power, Steem Dollars and What Should I do with them?] ''June 2017'' | * '''@sykochica''' : [https://steemit.com/steem-help/@sykochica/answering-common-questions-steem-steem-power-steem-dollars-and-what-should-i-do-with-them Answering Common Questions: Steem, Steem Power, Steem Dollars and What Should I do with them?] ''June 2017'' | ||
| + | * '''@shenanigator''' : [https://steemit.com/crypto/@shenanigator/why-the-price-of-steem-dollars-is-way-up-while-all-other-cyrpto-prices-are-crashing Why The Price Of Steem Dollars Is Way Up While All Other Cyrpto Prices Are Crashing] ''June 2017'' | ||
| + | * '''@nanzo-scoop''' : [https://steemit.com/steem/@nanzo-scoop/the-flying-pig-have-landed-time-to-stack-up-them-steem-dollars The Flying Pig have landed… Time to stack up them Steem Dollars?] ''June 2017'' | ||
* '''@chrisaiki''' : [https://steemit.com/crypto/@chrisaiki/stable-cryptocurrencies-bitusd-usdt-bit20-viva-hero-x8 Stable cryptocurrencies : BitUSD, USDT, Bit20, VIVA, HERO, X8.] ''August 22nd, 2017'' | * '''@chrisaiki''' : [https://steemit.com/crypto/@chrisaiki/stable-cryptocurrencies-bitusd-usdt-bit20-viva-hero-x8 Stable cryptocurrencies : BitUSD, USDT, Bit20, VIVA, HERO, X8.] ''August 22nd, 2017'' | ||
Revision as of 19:05, 22 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 April 2017 it has been closer to $2 USD. In August 2017 it lowered to $0,8 USD.
References
- Jump up ↑ Steemit FAQ: What is the difference between STEEM, STEEM Power, and Steem Dollars? Retrieved in August 22nd, 2017
Links
- @krnel : Ned on SBD: "Does the community want to continue to be paid out in Steem Dollars?" December 21st, 2017
- @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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