Bittrex made it possible for companies and private citizens to deposit fiat and exchange for blockchain dollars or Bitcoin.
Before the SBD peg was broken, it was super-easy to onboard people into CRYPTO by selling them 1000 SBD for $1000 with a buyback guarantee of $98.5, Now it has been even easier since Bittrex allow to withdraw to your bank account or deposit from your bank account or via a bank transfer in non-volatile currency to be ready to invest when the time and price is right.
Bitcoin has always been the goto currency, often the only option to trade your fiat money via bitcoin and into for example STEEM. Bitcoin has worked as a middleman for quite a few years now and it may look like Bitcoin will continue without so much middleman power as it has had in the past.
I wish SBD really became PEGGED, and that we concentrate CAPITAL on the STEEM token. SBD is supposed to be PEGGED, and if it cannot fulfill its promise, we should make a decision and stop producing it and give authors and everyone else more STEEM/SteemPower in rewards.
We only have 9.5% inflation now, and next year it will be 9.08% and then 8.66% etc.
The time to HOARD STEEM is when there is STEEM to buy when the getting in is good. STEEM has 1 million+ accounts and we will soon enough be 1 million+ real users on our blockchain.
This is the INFLATION TABLE for the next 30 years, as you can see we are very close to 9.08% inflation because our supply is currently at 271,260,487 STEEM and 71.4% is powered up while the 28.6 % is available for sale (maybe).
| Year | Supply | Inflation | New Supply |
|---|---|---|---|
| 2016 | 250,000,000 | 9.50% | 23,750,000 |
| 2017 | 273,750,000 | 9.08% | 24,854,398 |
| 2018 | 298,604,398 | 8.66% | 25,854,554 |
| 2019 | 324,458,952 | 8.24% | 26,727,942 |
| 2020 | 351,186,894 | 7.82% | 27,452,027 |
| 2021 | 378,638,921 | 7.40% | 28,004,740 |
| 2022 | 406,643,661 | 6.98% | 28,364,989 |
| 2023 | 435,008,650 | 6.55% | 28,513,181 |
| 2024 | 463,521,832 | 6.13% | 28,431,762 |
| 2025 | 491,953,593 | 5.71% | 28,105,742 |
| 2026 | 520,059,335 | 5.29% | 27,523,204 |
| 2027 | 547,582,539 | 4.87% | 26,675,768 |
| 2028 | 574,258,308 | 4.45% | 25,558,997 |
| 2029 | 599,817,304 | 4.03% | 24,172,733 |
| 2030 | 623,990,038 | 3.61% | 22,521,348 |
| 2031 | 646,511,386 | 3.19% | 20,613,886 |
| 2032 | 667,125,272 | 2.77% | 18,464,106 |
| 2033 | 685,589,378 | 2.35% | 16,090,399 |
| 2034 | 701,679,777 | 1.93% | 13,515,587 |
| 2035 | 715,195,364 | 1.51% | 10,766,608 |
| 2036 | 725,961,973 | 1.08% | 7,874,074 |
| 2037 | 733,836,047 | 0.95% | 6,971,442 |
| 2038 | 740,807,489 | 0.95% | 7,037,671 |
| 2039 | 747,845,160 | 0.95% | 7,104,529 |
| 2040 | 754,949,689 | 0.95% | 7,172,022 |
| 2041 | 762,121,711 | 0.95% | 7,240,156 |
| 2042 | 769,361,868 | 0.95% | 7,308,938 |
| 2043 | 776,670,805 | 0.95% | 7,378,373 |
| 2044 | 784,049,178 | 0.95% | 7,448,467 |
| 2045 | 791,497,645 | 0.95% | 7,519,228 |
So STEEM may be a really good LONG TERM investment, but the SteemDollar has been useless for a long time now, and if it cannot be fixed, if our culture won't allow SBD to be pegged, then I cannot use it to onboard people via FIAT, because I do not sell volatile securities, just 1 dollar for 1 dollar and I buy them back from locals where I am.
VOTE FOR FYRST-WITNESS ON THIS LINK: https://steemit.com/~witnesses and come and speak with me on the brutally honest sharktank over at @SteemSpeak by following THIS LINK: https://discord.gg/TP6HYAx
I work for the STEEM blockchain every day, just ask some of the 5700 active members of SteemSpeak. 17 hours per day at least, while of course doing other office work as well, but STEEM has become more and more important to us and for many others. If we are going to succeed, or when we succeeded is because of TeamWork and consensus on the small and important ideas, like adding or not adding relationship status on the UI, to continue or discontinue the production of SBD now before more non-crypto people join wondering"what is a blockchain?". (Yes, I expect the majority on STEEM to change from crypto-experts to crypto-n00bs) Shoutout to @good-karma for making the eSteem app that really is the best tool to meet and onboard users, just need the peg, pegged and it will be even better, but we can do that as a team or we should decide to vote it out as part of the CORE economy and maybe implement it as an unpegged SMT along with other tokens dropped from their SMT pool from other communities (I predict tens of thousands of SMT communities) or just allow people to trade their SBD to STEEM over 6 months and not producing any more of them, and those that keep them may or may not sit on a valuable currency as SBD is just a single feature crypto with no power to it
Sincerely,
@fyrstikken
Owner of @fyrst-witness, @booster and @steemspeak. A very active STEEM evangelist,