Even if we take that into account, the feedback mechanism for adjusting SBD supply is still far from perfect.
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Even if we take that into account, the feedback mechanism for adjusting SBD supply is still far from perfect.
If you think there could be a better way to address SBD supply, why jump straight to the conclusion that SBD has got to go?
I gave also two other reasons: nobody is using it in commerce and paying rewards denominated in dollars distorts users perception of their success on the platform.
There are many reasons why this has not happened on a larger scale yet, but just because there isn't a large STEEM/SBD economy right now isn't a reason to scrap the SBD token.
As I wrote in my post about this - we shouldn't be reactionary to short-term issues. We need to think long-term.
Also - there isn't much commerce...yet. I'll have an announcement this week that will hopefully start moving things in the right direction.
So how the long-term thinking is showing right now? I see only dreaming. There is no real vision, no actionable steps towards it.
Long-term thinking means that there is a clear goal and people are working to achieve it.
You're assuming that people are not working to achieve any commerce goals. I think that's the problem here.
I think everybody can see it pretty easily: so far basically nothing has been done.
To the first of those reasons, give it some time. Things happen fast in this blockchain world and it takes time for things outside of it to keep up. Patience is key.
The second issue does exist to some extent but it's not a huge problem and does in no way justify removal of SBD in my opinion. The reasons to keep SBD over this are far and away heavier on the scales.
Patience would be great if there were actually something done. But I don't see anything happening. Nobody is working on anything that would enable/encourage SBD usage in commerce.
I consider it to be wishful thinking to dream about commercial use until I can see some real world results.
And another point that I missed in the OP: To be widely used currency, SBD needs a privacy feature. Very few people are willing to use a currency when all transfers can be seen by anybody. Nobody is working on that, either.
If you're still looking to support commerce, here's something you can get behind. It's what I alluded to a few days ago.
https://steemit.com/steem/@bloggingforbeans/blogging-for-beans-a-coffee-venture