RE: Open letter to @Ranchorelaxo and @Haejin. by vimukthi

Viewing a response to: @taskmaster4450/re-transisto-open-letter-to-ranchorelaxo-and-haejin-20180306t000641558z

abuse · @vimukthi · Mar 6 '18

$0.18

The thing is STEEM isn't backed by anything and it can theoretically go below a cent. SBD on the other hand can never go below $1. Even BTC can go below a cent and it's expensive to use and super slow. Compare SBD with BTC. Tell me which one has better fundamentals.  
https://steemit.com/steemit/@vimukthi/my-take-on-what-to-do-about-sbd-free-market-all-the-way

👍 mariostucablog, syberiacoin, exan, saqlaink, magic-sasquatch, timoshey, jmdk2000, vishalsingh4997, dontbenormal, karinxxl, dercoco

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@edb1984 · Mar 8 '18

So what is SBD backed by so it doesn't go below  $1?

👍 vimukthi

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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
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@vimukthi · Mar 8 '18

$0.47

1 SBD can be converted to 1 USD worth STEEM. I know SBD has been __traded__ for 90 cents and few times around 85 cents. Anybody who buy SBD at the price could have converted that into 1 USD worth STEEM if they were willing to wait for 3.5 days. Each SBD is backed by 1 USD worth STEEM. If you buy SBD below $1 you are buying USD at a discount (but it's only spendable to buy STEEM)

👍 fricibacsi, hassansteemit, anu, davidconstantine, holgerwerner, mrbean, bycz, emrahyalcin, jguzman394, minnowunited, twkaiser, hogu, xhodan, foodpanda, thawfiqur, flexcougar, okramer, mione

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@edb1984 · Mar 8 '18

>SBD on the other hand can never go below $1

It's gone below 1 dollar many times

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