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RE: Thoughts on STEEM-Backed Dollars and Holding the Peg

in #steemit7 years ago

I don't think we need to worry about it too much right now. It certainly shouldn't be removed because of a temporary loss of the peg. It actually provides great utility/value for the ecosystem once it becomes more widely accepted as a currency within a Steem economy. I think we should wait until businesses start joining the community and see how they accept the two different currencies and whether or not the use cases can be proven.

The purpose of the SBD is to provide users in the Steem ecosystem with an alternative to cashing out of the system entirely due to a relatively volatile crypto token - STEEM. If SBDs can prove to be stable over the mid- to long-term, then I don't see why it wouldn't be used or preferred as the primary currency for business within the Steem economy, as it was intended. I plan to accept and use it for my business as long as it's relatively stable. I'm sure many others will do the same.