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RE: Beyond SBD: A Stablecoin for the World.
you are starting this article by proving that you do not really know what you are saying...
This makes SBD the only stablecoin that had a purpose beyond trading and it had served the purpose of providing a stable store of value quite well.
the fact is that SBD is not a stable coin. It was pegged on the downside but not on the upside. the fact that it is now trading at 80 cents even proves that the downside peg is not working perfectly...
this is the chart for the last year... what is stable about that.
I get that the sbd intro was just that, an intro to get people to read about this gold coin.
A little more research next time might help...
I don't need to research its price. A look at my account age might hint that I am well-aware of SBD's price history.
Unlike you, I've read the STEEM wp. The WHITEPAPER calls it stable. I'll stick to calling SBD what the wp calls it.
first of all I would like to apologise for the tone, it came across a bit harsher then i meant.
and just for your information i did take the time to read the white paper.
and it does state that indeed but even though it does that does not mean it should be treated as holy truth. In my opinion they just made a mistake and forgot to put a peg on the top and only set one in the bottom just because the creators assumed that no one would use it as a speculative coin. It assume it was oversight, but I do not know for sure if this is the case. (I mean to remember reading something along those lines from @dan though)
It is pegged on the downside but capped at 10% of the steem market cap. Now, sbd supply is more than 10% so it treats the steem price as 0.41$ to counteract that, this makes the peg at around 0.85$, so it makes sense why it is at 0.85$ right now