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RE: Steemit - Social Media of the Future and the Limitless Growth Potential of SBD and STEEM

in #steem7 years ago (edited)
  1. SBD needs to be more backed by the dollar if it wants to compete with Tether. no? USDT seems to be very stable.

  2. I TOTALLY AGREE learning curve is something I'm still baffled no one has really delivered on dealing with apart from Shapeshift, Changelly and Blocktrades which have a lot of limitations. (and not sure why Shapeshift never has Steem available)

So many coins come out without a proper wallet, how is anyone meant to have the confidence in buying if they have no way to confidently safely store it?

Why doesn't Steem (for example, it would work very well) provide a way to specifically target the most ignorant and new? A Steem whale bot could simply ask to be fed with tasty XXXX coin (eg ETH) and in return it will then dispense steem tokens. The best part is you could do it much faster than with other swap services since it's whole purpose would be to simply dispense Steem. It could even undercut the other swap services.

For example. You could get a special deal depending on how many Steem you bought. More steem the better the price. You could get the BEST deal if you bought a lot of Steem power which gets deposited directly into your Steemit account. This is the best way for everyone to win since it's a commitment to the long term investment in Steem.

See? That sort of thing would allow all kinds of new people feel safer and easier buying Steem. It would also for the first time I'm aware actually allow people to save money if buying steem in bulk, this way you could actually potentially get a better deal than if you bought it on an exchange assuming the price wasn't going too crazy.

Oh and ps someone really needs to sort out a better way to explain and organise the private keys... i have a feeling that's really going to be an issue down the line if it's not taken care of...

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SBD is backed by the dollar through STEEM and Steemit, in the same way that USDT is backed by the dollar through Tether. If either platform fails, their pegged asset will be worthless. The big difference is that Tether could shut up shop tomorrow, while with Steemit that cannot happen.

You are right that SBD fluctuates significantly more often than USDT in general, but that is likely due to people trading it having no idea of what they are actually selling. Buying SBD below $1 is free money.

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