RE: ✴️ SBD IS $0.58! IS STEEM BACK DOLLARS DEAD? ☠️ ☠️ ☠️ by smooth

View this thread on steempeak.com

Viewing a response to: @inventor16/re-smooth-re-inventor16-re-smooth-re-inventor16-re-smooth-re-inventor16-re-smooth-re-stackin-sbd-is-usd0-58-is-steem-back-dollars-dead-20181208t024622298z

· @smooth · (edited)
$0.04
Unfortunately all I can propose is wait it out. That's both a short term and a longer term answer. Short term SBD is in the process of righting itself, like a flooded boat with a bilge pump running.

Longer term, the volatility of the underlying backing assets needs to decline some. SBD (nor BitUSD nor NuBits, nor probably DAI, etc.) can not tolerate an environment where the backing asset routinely drops 95% in value and has single days of 20-30% drops. But when we get to the point that volatility of cryptos is similar to gold or stocks, if perhaps _somewhat_ (not insanely) higher, the core asset will still too volatile for most people and businesses to want to hold it directly as a short term store of value (as opposed to longer term investment or store of value) but systems like SBD (maybe not exactly the current SBD, as it still needs some work, but something not far from it) built on top of those assets will work much better, perhaps never failing at all.
👍  
properties (23)
post_id67,156,744
authorsmooth
permlinkre-inventor16-re-smooth-re-inventor16-re-smooth-re-inventor16-re-smooth-re-inventor16-re-smooth-re-stackin-sbd-is-usd0-58-is-steem-back-dollars-dead-20181208t144717900z
categorycharlesfuchs
json_metadata{"app":"steemit\/0.1","tags":["charlesfuchs"]}
created2018-12-08 14:47:21
last_update2018-12-08 14:51:21
depth9
children0
net_rshares71,209,443,901
last_payout2018-12-15 14:47:21
cashout_time1969-12-31 23:59:59
total_payout_value0.032 SBD
curator_payout_value0.010 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length973
author_reputation119,002,354,889,508
root_title"✴️ SBD IS $0.58! IS STEEM BACK DOLLARS DEAD? ☠️ ☠️ ☠️"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (1)