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RE: Could The Jump in SBD to $15USD Have Been Caused By Fear About Value of Steem?
To exchange STEEM to SBD, all one has to do is use the internal market and pay a fee with rechargeable RCs.
To exchange STEEM to USDT, one has to pay RCs in order to transfer to the exchange's account, and then pay additional fee to the exchange and also risk wallet freezes and a run on USDT, which is fractional reserve banking.
I have more faith in STEEM than in Bitfinex.
SBD has also shown to have more upside potential than USDT.
SBD is shown not to be pegged or stable so its pointless to have at all as only fuels pump and dumps when peg is ignored
The higher SBD is from a Dollar, the more it is against SBD holders to enforce the peg.
If you can get more than a Dollar worth of STEEM for a SBD, why would you want to enforce its peg to USD?
If SBD is lower than a dollar, and a peg is suddenly enforced, then it would be beneficial to SBD holders.
the peg is supposed to tie 1 SBD > $1 USD with little deviation up and down with witnesses enforcing this by their BIAS but they choose not to late last year so high SP holders could farm
rising 20 times the value is a small bit over the peg and unstable or do you disagree
True, but when SBD is lower than USD it is usually a good buy, and when SBD is higher than USD it is usually good to sell and not to buy.
There are times when people expect a steep decline in STEEM, when they exchange (could they convert in the past?) their STEEM to SBD in order to protect themselves, and during these times SBD might rise over a dollar.
But I repeat, since SBD has such an upside (which I want to know why and how it happened) then whenever it is equal or lower than a dollar, this upside only makes it a better buy than a fraudulent fractional reserve dollar proxy such as USDT that so far has been more stable.
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