I think that this is a good approach for future SP creation, but it would be unfair to current investors to replay the blockchain and turn their SP into liquid Steem.
There still needs to be a mechanism for investors to buy in. Perhaps powering up at a less then 1 to 1 ratio. We don't want to overcomplicate the platform.
There were plenty of folks that never comprehended the Steem/Steem Power/Steem Dollars balance
I agree. Replaying the blockchain and changing peoples balances, I'm not advocating it. I would NEVER tell someone what they can and cannot do with their money. I am fiercely against that. This is just a social thought experiment.
It does bring up an interesting point:
Which is more valuable to the platform, content creation or monetary stability.
We understand that both are important, and your post should generate some good discussion on which is more important.
That's a really good point, @stevescoins!
To expand on it a bit, you want both, but you need to lead with one or the other. Hopefully performance in one area will subsequently drive the other.
That said, I'd lead with monetary stability. The currency can exist on it's own, as many stable altcoins have little or no value beyond being currency. Content creation is just a USP that differentiates it from others.
With a stable currency, new investors can be attracted, which drives the value up, making post/curation rewards pay out more. In theory, that should attract (or reacquire) content creators, and the cycle continues.
If you build it, they will come.
I'd agree with you that monetary stability is more important to the altcoin's success.
I'm not sure ( and I recognize this is coming from a creator's bias) if that approach helps the social media platform component succeed.
We definitely need to create more demand for the altcoin by seeking businesses to accept it as currency. That would help both perspectives.