When 1 STEEM is 0.50 cent USD than 1 SBD is worth 2 STEEM (= 1 USD).
When 1 STEEM is 4 USD then 1 SBD is worth 0.25 STEEM (= 1 USD).
So 1 SBD is always 1 USD worth of STEEM.
Currently 1 STEEM is 4 USD and 1 SBD should be worth 0.25 STEEM but it's trading higher. 1 SBD is currently worth around 0.9 STEEM ($3.40).
You can't do much with an SBD on the blockchain besides trading it for 1 USD worth of STEEM. So the fact that it's worth more shows that the market doesn't understand the mechanism of the SBD/STEEM relationship.
They are paying $3.70 USD for $1 USD worth of STEEM.
Yeah, thank you, I outsmarted myself 😂
Actually what I calculated was right to the point where I thought it should be higher...
Anyway, I know about this situation and for me SBD was always either the equivalent to the "Smart Cash" system of bitshares or just the first SMT of the STEEM blockchain (= the "internal currency" of Steemit).
Actually I (and most users I guess) do more with SBD on Steemit than with Steem as a currency.
If you haven´t gained a huge following like you do, "we" small fish are somehow dependent on paying SBD for upvote bots to get seen.
So I actually use SBD way more often than Steem.
I haven´t done so, but it actually makes sense to buy SBD to pay for these bots (since not all accept Steem). Also, if you pay with Steem, and you get only 50% of the rewards (after curation) as SBD and the rest as SP, you run out of liquid funds to pay for the bots.
So if you are not dependent on the bots (like in rare cases like you) SBD makes no sense and you won´t use it - for the rest of us its otherwise.
Thanks, @exyle for taking your time to read my comment!
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