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RE: Witness Discussion – SBD price and reverse peg

in #witness-category7 years ago (edited)

Quite frankly I agree with @aggroed here. Now is not the time, I personally think you risk the fall of steemit. Increase the userbase and keep the returns high so that said users are able to spend their rewards at the shops that pop up over time. What happens to an economy if nothing is pushed back into it and everything is taken out? Its value dwindles and considered junk, just look at my country, South Africa.

To elaborate on this, say steemit turns into a place for stores to run off of the blockchain due to a decrease in rewards and a dwindling userbase. I wouldn't go through the effort of converting my money to sbd to buy something when I can buy the same thing for roughly the same price in dollars using something as convenient as PayPal.

If anyone has a more educated opinion here, do share, but I don't see an upside to doing this.