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RE: Speculation killed the STEEM DOLLAR Utility

in #steem7 years ago

What happens if the SBD returns to $1. All those content creators have been lured here and encouraged by a false economy? Do they then piss off? Are we going to be content to return to being paupers? Is a boom-bust scenario for authors here better than organic growth with a focus on content and community rather than profit? I'm just playing Devils Advocate here, but they are valid questions.

I was not aware that SBD was required to conduct an SMT ICO. That might be a valid reason for pumping the price. As for Reason 2, it is reliant on the Greater Fool Theory and I would even argue that such a scheme would only be perpetuated by a Bad Actor.

But anyway, I'm not saying it is all bad. I'm just saying it is irrational and is not all good either. There are a fair number of people in my comments who had no idea why or what purpose SBD has. Considering what has happened this last month who can blame them for the confusion!?