Steem Dollars is supposed to be the equivalent value of one dollar, however, the price seems to be all over the place.
For example, Steem Dollars (ticker symbol SBD) is up 26% today.
That puts their value at $2.02 at the time of me writing this!
With the value of SBD supposedly being tied to the value of a dollar, why the heck is this happening!?
Although anyone who currently owns Steem Dollars will likely be happy about the price rise, I feel that this could actually be a bad thing in the long term.
Why, you ask?
Well, if the value of Steem Dollars isn't tied to any actual dollar value amount, and the price can fluctuate this much in one day, that means there is the possibility for the value of SBD to fall just as much in one day.
Now, instead of knowing you have X amount of dollars, you will have no idea how much money you are actually holding.
This makes it really hard to judge what kind of income you are making or will be able to make in the long term, because you can't just assume a specific value for your Steem Dollars.
In the end, Steem Dollars (SBD) will just be another crypto currency that is subject to speculation and dramatic price drops and jumps.
So, there can't be any stability in their value, which was supposed to be the whole point of the existence of Steem Dollars in the first place!
Let me know what you guys think about the value of Steem Dollars and whether or not you think they should be tied to an actual dollar amount.
Is this a good thing, or a bad thing?
Thanks for reading!