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RE: Vlog 198: Enforce the SBD peg or not?
Never change a running system
A high SBD price is totally healthy in my opinion.
Enforcing it back to 1 SBD would make a lot of people pretty angry. Me included.
Why should it be enforced? Just for the reason that it was supposed to be pegged to 1$?
Well. As you said @exyle - a high SBD price gives you a lot of oportunities (especially looking at blockbrothers) and I feel the same. So why should there be a limit to giving active steem-user more possibilites?
So I'm totally against forcing the peg. At least right now. We can see again in half a year or year, but until then ... let's have some fun.
Edit:
On the other hand - a 1$ peg gives many usecases where a stable currency is needed. Difficult ...
Yes. "I wrote in my diary 5 years ago that my goal was to make $1 Million Dollars. But now I have made $100 Million dollars. I wasn't supposed to make so much money... Let's throw the other $99 Million in the river - It solves the problem."
nice analogy, where is all that value going to go if it gets pegged. just seems like a burning of resources.
It's going to be destroyed, which was the point of my comment.
Its a mischaracterization of the problem though if SBD was pegged at $1 the value (or at least a lot of it) would shift over to the steem token so it's not like throwing away money, more like shifting to a new bank account
I bought a goose because I wanted eggs for breakfast. It laid a golden egg. I am returning the goose and egg to the farmer as it did not do what it was supposed to.
hello... i upvoted your blog and kindly upvote my blog as well...
Everyday this steem seems to be more and more run by some anarcho socialists! This is supposed to be decentraliced platform to avoid control, but yet they just try to act like some socialist-goverment deciding how much this must be worth. Stop with the fucking number crunching! why the hell someone must always decide what is the excact value of this or that. But I guess after all this place was made from just hate to goverment, other vice devs would have realized how this steem power thing eventually just turns this into another "elite" (whalesters = banksters) run economy. That day may not be yet, but it will come.
Thank you for saying this! It's exactly like you say: Fucking socialists wanting to control shit. Just lay off and let the free market run its course. Destroy the value of SBD? Why don't they throw their money in the river while they're at it? Fucking insanity...
Perhaps we can get the best of both worlds by waiting until SBD naturally returns to a valuation around $1 (if that ever happens) and then making an adjustment like this, so it has (in theory) no immediate impact.
On the other hand maybe Steem doesn't need an official internal pegged currency - an SMT, or even non steem token, might be a better way to cover that use case.
Take into account that if dollars goes to hyper-inflation, then it could be pain in the ass trying to get all your sbd out before it is worthless.