Three questions about the Steem Dollar (SBD). by bitcoinmeetups

steem · @bitcoinmeetups · Jan 6 '17 (edited)

$0.51

Three questions about the Steem Dollar (SBD).

Three questions about the Steem Dollar (SBD).

Is there a maximum withdrawal limit for SBD?

And will the SBD still be around in a year from now? 

Also, if the general Steemit algorithm is changed, will SBD suddenly drop to 0?

If anyone knows the answers right now I would be interested and probably grateful to know.

Bmeet

http://steemit.com/images/steemit-twshare.png

👍 au1nethyb1, rok-sivante, xeroc, freeyourmind, robrigo, anonymous, rossco99, shenanigator, pfunk, boatymcboatface, wingz, sponge-bob, ethansteem, blakemiles84, fyrstikken, hello, steem-id, fufubar1, pheonike, sharingeverybite, berkah, world, biophil, pairmike, sunshine, brendio, gomeravibz, eroche, valth, magnebit, tracemayer, albertogm, skapaneas, michaelx, masteryoda, hardank, hopehuggs, phenom, catto000, snowflake, ballinconscious, bergy, zebbra2014, riscadox, raymondspeaks, ergoproxy, nulliusinverba, coldmonkey, ianboil, philipnbrown, jayfox, cryptojoy.com, cmorton, steemradio, ozymandias, fyrst-witness, bigsambucca, tamersameeh, bitcoinmeetups

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@sergey44 · Jan 6 '17

Steemit FAQ

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@bitcoinmeetups · Jan 6 '17

Well, I just read through the Steemit FAQ and it does not seem to answer those very questions or go into details. Additional information would be useful.

👍 sergey44

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@bitcoinmeetups · Jan 6 '17

Specifically it says:

Steem Dollars - Steem Dollars are a blockchain and market powered token designed to be pegged to $1 USD. Steem Dollars may be turned into STEEM before they can be “Powered Up” into Steem Power. Steem Dollars may also be used to buy things in marketplaces, such as Steemit.com and PeerHub.com.

But this does not answer my questions.

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3 replies

@ats-david · Jan 6 '17

>Is there a maximum withdrawal limit for SBD?

As far as I know, there isn't a limit. You can "withdraw" whatever is in your wallet, as long as someone else is willing to buy them.

>And will the SBD still be around in a year from now?

There's really no way to know that. Maybe a clarification on that question is needed? 

>Also, if the general Steemit algorithm is changed, will SBD suddenly drop to 0?

What are you referring to? What would be changed?
>

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@bitcoinmeetups · Jan 6 '17

Hello ats-david,

Well I have heard there will be a new Steemit goals paper or something out soon and I wonder if they might be dropping SBD from the algorithm.

And if they do I wonder if the price would suddenly go to 0 or if there would be a grace period were the SBD price is still pegged to 1 USD so we could withdraw the funds.

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@ats-david · Jan 6 '17

If there are any plans to remove SBDs, then that will be the end of the STEEM experiment, in my opinion. As far as I know, there are not any plans to do that, but we will have to wait for the road map to be released. 

I would imagine that any change like that would require a hard fork and that there would be ample time to withdraw or convert SBDs, but the price would likely drop in light of that change. In any case - it's a terrible idea.

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3 replies