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RE: Can you spot the trick to this Faux Paradox + Funny paradoxes and my Philosophical outlook for Solving Paradoxes
Thanks for this post my friend @vimukthi ..Love it ,eager to see more post from you
Thanks for this post my friend @vimukthi ..Love it ,eager to see more post from you
I post about once a day on various kinds of topics ranging from philosophy, cryptocurrency, anime, movies, games etc. So stick around and maybe you can try some of my previous posts.
Happy steeming :-)
Vimukthi I have severely question for you : Recently someone asked me
"Isn't 1 sbd suppose to be only 1 usd , why has it skyrocketd in value "
It's crazy how its so close to half the price on poloniex. It just doesn't make sence. Please guys, " add your imput. " As I remember correctly you posted a while ago a post about steem dollars .I think your well informed to answer his question . thanks !
Here is what I know. STEEMBackedDollar is like a gold backed dollar or paper gold. It's a note that say you can exchange this for X amount of Y. It was designed to be converted (not exchanged) to 1 USD worth STEEM. I also remember reading that SBD was designed in a way that the amount of SBD doesn't exceed 10% of the STEEM supply. So SBD supply should be 10% the USD value of STEEM .
STEEM marketcap 500 million means 50 million SBD coin supply. I don't know if any of these changed because of recent developments. Anyway the point is as long as the value of STEEM isn't zero the lowest value of 1 SBD is 1 USD (assuming dollar doesn't hit zero)
It's a safety net mechanism that was assumed to be stable but the free market pumped it up. SBD now has $12 price tag and $1 intrinsic Value.
Thanks for the reply vimukthi !