RE: Thoughts on STEEM-Backed Dollars and Holding the Peg

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Thoughts on STEEM-Backed Dollars and Holding the Peg

in steemit •  7 years ago 

Can someone explain why people would buy SBD if the price was above 1$? Speculation? I that case it seems like foolish speculation. Are there any other reasons?

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7 years ago by

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      ·  7 years ago 

    In theory if there were more supply of SBD than STEEM at your target price, and you wanted a lot of STEEM, you could buy SBD and convert it to STEEM.

    But in this case it seems like foolish speculation. There are much more efficient ways to short bitcoin.

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        ·  7 years ago 

      If you want to increase your steem and think the steem price plummets down to where it was a month ago then buying SBD at 2$ would still yield a 30% win in steem.

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