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RE: Unpegged SBD: A Pointless Speculative Asset

in #sbd7 years ago

I do not know if you saw the post by @reggaemuffin which described a good way of preserving SBD and truly pegging the price to a dollar which would give the SBD some actual utility. If we allow users to convert from STEEM to SBD, then the price of SBDs should fall downwards given market pressure and an influx of new SBD.

However, I do agree with you that if SBDs are only to serve as speculative instruments rather than a peg I would rather just stick with Steem as the speculative instrument and remove the SBD for the sake of simplicity.

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 7 years ago  Reveal Comment

I know for a fact that the witnesses have zero intention and will never remove SBDs unless a large enough population mobilizes against them which I don't see happening.

As for investors pulling out of Steem if SBD's plummet back towards $1, that might not be a bad thing. It helps to reset the market and return things to normalcy. It also helps to remove some of the short-term profit driven investors. It's not really our responsibility to make sure that they do their due diligence and research their investment by reading whitepapers and understanding the mechanisms behind different currencies on the blockchain.

 7 years ago  Reveal Comment