Steem Dollar (SBD) is our wonderful liquid currency for the entire Steem ecosystem. It is tradeable, liquid and transferable, and it's out de-facto currency. It is pegged to 1$ but that peg is only maintained if the liquidity is good, meaning that there are plenty of traders trading it, and the trading volume is high.
A liquid currency ensures low spread, big order sizes at every price level and deep market depth, which is necessary for frictionless transaction, essentially maintaining the 1$ value strictly. (Otherwise the price will just swing above or below that, through speculation, and we don't want this, we want a stable 1$ worth of Steem from SBD).
Yesterday's implementation of Promoted Content was a genius move. Not only it burns the SBD whenever somebody pays for Promoted Content, but it actually increases the utility of SBD, and therefore the demand for it.
Many people were cashing out their SBD to Bitcoin because SBD has no wide range of use yet, but if we add more utility to it, people will actually spend it like real money.
I cannot emphasize enough the Steem Marketplace! And then, SBD will be stable. A currency is only a currency if people use it and spend it. That is what we should focus on with SBD.
But going further, we really need to get listed on more Exchanges:
Steem is already listed on the Major Exchanges: Poloniex Bittrex and Shapeshift.
Steem Dollar is only listed on: Poloniex and Bittrex, but not on Shapeshift, and no others.
So @shapeshiftio please add Steem Dollar!
Everyone should start e-mailing them to add it, or post on the subreddit, and show your support for Steem Dollar!
https://shapeshift.zendesk.com/hc/en-us/requests/new
https://www.reddit.com/r/shapeshiftio
If we get them to add Steem Dollar too, then I think Steem Dollar will become very stable, and it will help us build our community on that. A stable Steem Dollar is very important for our economy, and when the Steemit commerce will expand through things like Steem Marketplace and others, we will become the Nr. 1 Cryptocurrency!