the Tether Bitfinex mess, a good opportunity for the SBD! Any chance of improving its peg?

There's been a lot of doubts regarding Tether and whether it is really backed 1 to 1 by US dollars.
Some Twitter accounts have been sounding the alarm for some time now, in particular an account called Bitfinexed:

This caught the attention of Tone Vays and a few other popular Bitcoin personalities who have been trying to get to the bottom of the worrying allegations made by Bitfinexed:

Tether and Bitfinex have been playing down the allegations for weeks. Tonight however Tether made an official announcement conceding there is indeed a problem and there's 30 million missing/hacked!!!!

This proves once again that trusting a centralized entity or gateways to really backup their assets is wishful thinking unless regular audits and tight regulators frameworks are in place. https://twitter.com/Bitfinexed https://twitter.com/ToneVays

What is Tether backed up by at this point we don't know. We saw that its value so far was only based on a lot of misplaced trust.

However we know that the SBD (Steem backed Dollar) is backed by Steem and it is all transparent on the blockchain! No need to "trust".
As a trader right now I would feel safer parking my savings in SBD rather than Tether.


Either Steem delivers a more dependable US dollar peg with its SBD or calls to get rid of it will remain:

With Tether and other centralized pegged solutions failing I still see the SBD as a useful asset for the time being. But with a better implementation it would really shine and bring a lot more value to Steem. What makes SBD a problematic alternative to Tether though is its difficulty in maintaining the US dollar peg. A solution by @timcliff was suggested some time ago (don't know if it's being implemented): https://steemit.com/sbd/@timcliff/saving-sbd-proposal-to-restore-the-usd1-usd-usd1-sbd-peg https://steemit.com/ned/@krnel/ned-on-sbd-does-the-community-want-to-continue-to-be-paid-out-in-steem-dollars