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RE: I Wrote About Steemit On A Major Finance & Investing Website
I am quite surprised and happy to see it rise, I didn't expect witnesses to not impose the tools to keep SBD at around $1 so its kind of funny to see Steem Backed Dollar worth way more than a dollar. If they do decide to impose the dollar cap I have a feeling Steem will follow. Its really up to witnesses to coordinate controls in the future.
P.S. Nice to see more Arizonans here
So you're thinking if the SBD gets pegged to $1, steem will drop too?
If the top 20 witnesses implement the price feed bias to keep the price of SBD at $1 like before I am certain the price of Steem will drop. At some point it might be in their interest depending on how things play out.
I'm not well read on the SBD issue. I thought the general crypto speculation was the reason for the rise in SBD price. No?
Nice to meet a fellow Tucsonian too.
Steem Backed Dollar can deal with speculation and price movement up or down using a number of tools including increasing interest rates for holding it and of course price feed bias. The idea originally was to keep SBD pegged at a Dollar.