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RE: Dtube Exclusive - BuzzSteem Ep. 40 [Is Hard Work on Steemit Enough for Success?]

in #dtube7 years ago

SBD is supposed to be pegged at one US dollar and it held that peg even back in the day. I use it now to purchase STEEM at a discount. STEEM will go up, SBD has a strong chance of going down to a dollar simply because that's where it's supposed to be. STEEM is a tool. One can use it to earn more by pressing buttons. I might see a dollar or two for voting on this post of yours. Down the road, that'll be worth more. Sure, at first it felt like I was using a butter knife to cut down a tree, but that still made a scratch, progress. The blade gets sharper and sharper. Now I'm using a small chainsaw. I upvoted your post, gave you about $2 in rewards, and I might get that value in US currency for my efforts. Why people choose to rob themselves of this opportunity so they can use their SBD to buy votes baffles me most days. I'll continue leveling up like I'm playing a video game, even if it's a grind. Eventually STEEM and things like Steemit will be a finished product and the STEEM token will be worth something similar what a share in Facebook is worth today. The thing is, if people continue to pass on their rewards to a middleman(vote seller), they're basically giving a handful of people the entire reward pool. That's not smart for business. It's counterproductive. A handful of people can decide to sell someday. Put that stake into the hands of many and even if one sells, the place keeps rocking.

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Ok I guess I am confused then. If Steem is independent of SBD value, why does a user's account value drop (in Steem) when the price of SBD goes down? I always figured they were interconnected...

The account value is based on a three day average, I think.

Earlier this year a minnow friend of mine was complaining about not earning much. He based that opinion on his account value. So I showed him... If you have 100 SBD in your wallet, and nothing else, your account value will read $100. Even if each SBD is worth $10 US, it will say you have $100. If you take that SBD and buy STEEM on the internal market and if your 100 SBD was worth $1000, you'd see your account value go up from $100 to $1000. I believe the system that calculates the account value average thinks all SBD is worth $1.