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RE: Daily Discussion No. 6: What is UP with SBD? And is This Going to Last?
You know what's funny is, as I was reading this I had absolutely no idea that SBD went that high and I have no idea why I haven't checked to see where it is right now. As an instrument that is supposed to be pegged at 1 USD, I'm mystified at its value. It sure is exciting but at the same time I'm not holding my breath that it will remain in the double digits.
Then again you do have a point about people trading a "new" cryptocurrency. The market is all about supply and demand isn't it? With a fairly small supply I can see why the price would go up but I believe the wrong sister token is going for that joy ride.
I agree... it's the wrong currency that went for a joy ride... and I find myself wondering if STINC will take action to have SBD delisted externally... in other words, the only way to cash in your SBD would be to use our internal market to change to Steem, which you then could sell on exchanges worldwide.
Of course, the $12.50 exchange rate isn't costing us anything... the cost is being borne by external investors who've decided what the "right" price is. Will those investors bail when they discover they are basically underwriting a bunch of bloggers? Time will tell.