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RE: Quick Idea for a Steem Service (#64)
so u think the steem dollar will go back to being worth a U.S dollar? That would suck tho
so u think the steem dollar will go back to being worth a U.S dollar? That would suck tho
That's the purpose of the Steem Backed Dollar, though. To be worth around 1 USD.
Ahh true, but still how exactly would that help if it was back to 1 dollar?
The original idea was to have a stable currency to trade with; For example for online shops, BTC has a disadvantage over US$, because its value changes so quickly.
Oohhh yeah that makes a lot of sense. Is there anyway to keep it at 1 dollar?
Increasing the supply. ( Supply/Demand )
right but steemit is not going to cause the price to be stopped or blocked?
You would have to stop all trading to 'freeze' the price (?) ...
The blockchain has a built in system to regulate the supply.
It just does not work that fast and nobody expected how irrationally high some traders bought the SBD.
ah okay. that makes sense.