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RE: Bounty 20 Steem: Should we fix SBD?

in #sbd7 years ago (edited)

You are suggesting making SBD "stable" and pegged to the U.S. Dollar; however, what's to guarantee it won't go LOWER than the U.S. Dollar in value. Is there going to be an algorithm that secures this? I think if you tried to restrain SBD that would be a bad idea, that would be like restraining Bitcoin to never raise above $1000 so that people would think it was stable (would Bitcoin have grown as big as it has if this was the case?). I think we should let the market run its course and decide what SBD are worth in the short term and the long term. I thought cryptocurrency was about decentralization. The rules of the Steemit platform have been made and have worked wonderfully, we should be coming up with ways to market the app to go mainstream, and concentrate less on restraining it. This reminds me of the Federal Reserve creating monetary policy and artificially messing with interest rates. I think if we start artificially messing with the Steemit, then that will actually cause it to lose "it's stability" and faith as you suggest it. I believe letting the market decide what SBD's value should be in the short term and long term is what's best. Just my 2 satoshis.

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@jfltmisc You bring up a very point. How can this cryptocurrency reflect that of an actual already centralized physical currency and also hope to have a future with in the digital currencies space? What I mean by this Is if theo original purpose and intention of bitcoin is carried out and the collapse of physical money takes place then where would the value in SBD Lie moving forward?

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