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RE: Does Anybody Know Why I'm A Billionaire According to Steemit.com + What is SBD
Thanks for sharing the link. It was helpful. STEEM was supposed to go over $1 like any other crypto. STEEM could even go to $1000 Only SBD was thought of as the $1 coin. It's technically not a peg but a price floor. The system only works to push its price close to $1 when it is under $1 and debt level is under 10%
SBD was dreamed up in a time when STEEM was thought it would get up to pennies.
Thus, the price difference puts in a ceiling for SBD, and the convert puts in a floor. But... it didn't turn out that way.