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RE: (Very) Basic stuff Steem needs to fix: my personal list

in #steem • 5 years ago

I hate to be disagreeable. However some of the things you say about SBD are just untrue. It was not debt, they just guaranteed that they would exchange one dollars worth of Steem for 1 SBD. So when Steem was at $10 for 1 Steem, Steemit inc would have given you 0.1 Steem That thing about SBD way back lots of bullshit was being spoken.

5 years ago in #steem by
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     5 years ago (edited) 

    That is what debt is. Since the debt-to-ownership ratio is currently over 10%, Steem is no longer offering that guarantee. Indeed, if you converted today, you'd get back ~$0.65 worth of STEEM back.

    Please read the whitepaper for more details on how SBD functions. It is quite literally described as debt in the whitepaper.

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