We've discussed the value of a pegged asset for quite some time. Throwing that opportunity away because the peg is broken seems like the wrong approach to me. Why not just fix the peg (see issues 2140 and 1839)? If the future involves mass-adoption of cryptocurrency (I believe it does) and those new users want a stable peg (I believe they do, Tether had $2B in volume in the last 24 hours), then we'll need months/years of demonstrating a stable peg for them to use. We have an opportunity to do this in ways few other blockchains can. Claiming SBD isn't useful while it's still broken isn't the full story. Many of the things it hasn't worked for yet (buying things, etc) might work if we fix it.
Possibly related: What ever happened to the ZAPPL token on BitShares you created? I purchased that, and it now has no market so it's essentially worthless? Do I get anything for my tokens?
SBD is purely a dump token and for two years now it has failed. As we stated the peg is basically dead and has been. These boost are providing false expectation to users that Sbd will be so big.
We see people complaining that they're getting less and less as pump and dumps come down this in turn makes users leave because they get way less than they did before. Were pretty sure a majority of users dump sbd not hold them when they get paid.
Its been such an issue steemit them self had to remove the conversion method on their site because it was causing users would lose a lot of value.
Zappl tokens are to be paid back with profit starts, there was a number of perks that came with the amount each user holds. Verification is going to happen soon we got a list of all the wallets that held tokens 1 week after launch. Even if it has a market or not they have a value because they will be bought back at higher rate then they were issued.
The reason SBD peg is broken is a technical one. We have a technical fix. It's irrational to me to say "Ah, this is broken, we should get rid of it" before we even know what value it could provide when it works as expected. Do you see that perspective? Have you thought about the value a working, stable coin in the STEEM ecosystem could bring?
The conversion was removed because the SBD peg was broken. More people want SBD than the original white paper planned for and the concerns it mentions about a reverse conversion may not apply now that we've reached the STEEM marketcap we have now.
Users leaving because of expectations being out of alignment has been going on since day one of STEEM. When it was more of a lottery people could be educated easily to reset expectations. Now that we have pure linear curves, it's not so clear. Not all of this is SBD's fault. In fact, a stable, working SBD could fix some of it, IMO.
Thanks for the update on Zappl.
Yeah we can see the argument, but then the issue comes to once sbd is manipulated again and it will be. The conversion will be a problem once again, i fail to see the value honestly. Its dumped a fair bit even by popular big staked people. Which you can find the data on, i do know some big guys funnel it into stake or bots but on a basic user stand point were not sure.
But we will be fair and look over the documentation and discussions you have provided. It's only fair to look at the other sides view point. We just pro push steem forward in any way we can, with the delays we have seen mostly everyone want's some progress to happen.