How the Steem Dollar Peg Works by: Nathan Hourt. I wanted to add a few to this great share he presented us with. https://steemit.com/steem/@modprobe/how-the-steem-dollar-peg-works
The steem dollar can be looked as a federal reserved note. It assures good and services with it's trading power.
DEFINITION of 'Federal Reserve Note'
The most accurate term used to describe the paper currency (dollar bills) circulated in the United States. These Federal Reserve Notes are printed by the U.S. Treasury at the instruction of the Federal Reserve member banks, who also act as the clearinghouse for local banks that need to increase or reduce their supply of cash on hand. This term is often confused with Federal Reserve Bank Notes, which were issued and redeemable only by each individual member bank, but phased out in the mid-1930s.
Read more: Federal Reserve Note Definition | Investopedia http://www.investopedia.com/terms/f/federal-reserve-note.asp#ixzz4GwrZx2Lb
Crypt o-currency is completely different but the steem dollar principle is like the above definition. Hopes my 2 cents helps a little:)
Thanks again @modprobe for such a short informative post!
Lol i love that picture. Great post!
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lol, I just googled and found that particular one. Most of mine on my post are created by me or fairz animations, Thanks for comment. Cheers!
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The Steem Dollar is far, far different from the Federal Reserve Note. The FRN is a fraud instrument which has no formal rules, and can be manipulated on the whims of the Federal Reserve, generally for the purpose of genocide under the pseudonym of war. Literally the reason Steem Dollars exist is to provide an alternative to FRNs which does not involve funding the murder of children.
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1st off, it's not far from the FRNs. You are labeling a note subjectively. The steem dollar is the exact same fine line principle. You are saying the dollar was created to the deliberate killing of a large group of people, especially those of a particular ethnic group or nation? That is what a genocide is. I was applauding your video not knocking it, you might want to see I stated added to your wonderful video my opinion hence opinion. You are using scenarios to conclude your point instead of the intent the creation was created for. I may create pizza to eat and you may use it to have a food fight. Try to stay neutral not subjective when forming conclusions that require opinionated thoughts. Cheers by the way again I liked your video in case you missed that!!! Nothing wrong with up-voting a post that you don't agree with, you did read it vote for my effort.
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SD and FRNs are similar in that they are both debt instruments; however, the mechanisms by which that debt is created and destroyed could not possibly be more dissimilar. This means that in any way that matters, they are fundamentally different.
The damage which would be caused by convincing people that SD and FRNs are similar in any salient economic sense is inestimable. FRNs are one of the most powerful fraud instruments ever created, and they have been instrumental to purveyors death and destruction for over a century. SD are philosophically opposed to FRNs. Due primarily to this post, I'm now thinking about making a series of videos building up to explaining why this is the case.
Please understand that I am not angry with you for drawing this comparison, nor am I trying to put you down. I have not downvoted your post, nor will I, because it is a legitimate perspective with a seed of truth. My problem with it is that I think it could be misleading and it may imply an association between Steem and a very dark agenda where no association exists.
I won't upvote your post because I fundamentally disagree with the comparison to FRNs, and I don't, at a glance, understand your diagram. I thank you for your kind words, and I hope you understand that I have nothing against you personally; I just don't like the idea of drawing parallels between FRNs and SD.
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Well said, I appreciate those words much respect. You have great views that I will be following, cheers!
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This is interesting. It might help the Steem dollar by increasing volumes. https://steemit.com/steem-ideas/@dennygalindo/let-s-get-a-steem-sbd-pair-on-bittrex
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