What would be the argument against getting rid of SBD and using Steem? This would likely consolidate value and hopefully solidify the ecosystem.
Why do we need SBD?
7 years ago in #speakyourmind by travelersmemoire (58)
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done upvote me
https://steemit.com/photography/@schatengarg/i-ll-convert-ur-pic-into-a-stencil
Thanks!
nice post @travelersmemoire
Thanks!
What do you mean by that?
You want sbd to be out in steemit?
Steem and sbd serve different purpose!
What is the point of SBD compared to Steem? I only use SBD to buy Steem so maybe I’m doing it wrong but to me SBD seems pointless.
Hi @travelersmemoire,
How are you using sbd to buy steem?
Do share you thoughts on why you would want SBD to go away....or do you want Steem to increase in value higher than SBD.
Hey,
I earn SBD by making a post like this and then will use the SBD on the market to buy Steem to power up, pay with, etc.
I just feel like two currencies for the same system adds complexity without value. I sort of know I’m wrong but just want to know why lol.
Steem was used to power up steemit account to gain influence via upvotes. It is not intended to cash out.
Sbd is used for rewarding to your post, design for you to cash out, to pay or even if you prefer to buy steem to power up! It is also design that sbd should be eqiuvalent to $1 or 1:1 ratio.
And if you see sbd as pointless, then do not used 50/50 rewards, instead used 100% power up!
I hope you will see its uses, and its purpose!
But why not just have one currency, but on the 50/50 setting, only half of it is automatically powered up, and the other half (what would have been SBD) is liquid? Rather than having a second internal currency just to deal with that created situation?
If it's because it's supposed to be a 1:1 ratio, then you wouldn't end up with cases like this week where it was up at $16, or around 9:1 ratio either.
I don't know why you can't accept its purpose!
Sbd pegged to $1 or 1:1 to your potential rewards, not in current market value!
Sbd is still crypto, once in the market, it can be pumped or dump!
You got a free upvote just for speaking your mind, courtesy of me! No need to write a novel, speak your mind! Give me a follow for more giveaways!
Thanks! I think you’re a bot but I’d feel rude not to thank you lol
I know I certainly don't understand why the site is built on 2 separate currencies. It doesn't really seem like a logical thing, and purely additional complication to hinder new people from understanding what's going on and how it works.
I get your point facing the current situation. SBD skyrocketed since it is now conceived as crypto which 'at least' has $1 in value(instead of 1SBD = $1). Plus, we can transfer SBD free of charge. The creators of SBD intended to peg SBD exactly to $1(or around 0.95~1.05 according to the white paper), but they put so much superior features in SBD so that it worths more than that. This leads to the situation in which nobody converts SBD to STEEM on the platform.
However, if we are to incentivize contents creators on Steemit with stable value, we need SBD. But the value of SBD needs to be adjusted to $1. In my opinion, negative interest rate is the only solution. Governors of Steemit(SP holders) must vote for witnesses who propose appropriate interest rate(even it is negative) to maintain the peg.