Actually, pretty much everything in this post is accurate, including the white-paper revisions, the fact SBD has a price floor not a peg, and the fact that the way it is designed over-prints SBD value and therefore inflates market cap. Since SBD has no project or real use, it's not a stand-alone crypto, it has no justification for this higher market cap and natural market forces render it highly likely to trend back towards it's only use - $1 of Steem conversion.
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You are right, that was unfair. I apologize. If it is any excuse it was 4am and I was annoyed about something else. That you for responding civily.
I disagree with a few points, however. Mostly, I think that "That price floor is a minimum of $1 of Steem via the conversion tool." is not accurate. It is more of a soft floor that in the sense that the witnesses can increase the interest to artificially decrease supply, thereby increasing the price. It COULD have a price ceiling if witnesses all decided to increase the bias and print even more of the reward as SBD, flooding the market and causing a dip in price. I argue that stability requires, and is designed to require, the witnesses to use the tools at their disposal (bias and interest).