RE: Should SBD Be a Pegged Asset? If So, When Should We Peg It?
Great post Luke. This is a very interesting topic and from my personal experience the Steem Dollar getting way out of wack caused me to cancel my power down in the fall and then ultimately led me to powering up 0.5 BTC worth because I anticipated the price of STEEM getting pulled up because of the SBD being so high.
I personally do like the idea of the dollar peg and I'm blown away that the reward pool has increased 46X with these increases. To be honest it is kind of weird because a lot of us bloggers aren't really feeling it. I feel like I was making more money when STEEM was worth $2 and I had less followers than I am now.
It might be because there is tons of self voting and that is draining a lot of the pool. I'm not really sure. I would say some of my videos that I have uploaded on DTube have been some of the best work I have ever done on this platform especially my video on EOS which made maybe $15 or so.
Payouts are wacky and we have just accepted it but I'm also surprised no one mentioned NuBits anymore in the dollar peg conversation. It is unfortunately only on Bittrex but I have used it before and it seems to have a mechanism to keep it fairly stable.
It Tether blows up then I'm assuming my BitShares investment could payoff big if people feel they can't go to SBD because of the increased prices.
Thanks Brian. Yes, payouts our funky and whenever we set expectations about them, we're bound to be disappointed. On the plus side, you do currently have a potential payout of $123 on a Picard meme on Dmania. :)
Interesting that you're confident a rise in SBD will directly lead to a STEEM rise. I see them usually happening together (especially when the combo gets added to a new exchange), but I'm not fully confident STEEM will always rise and fall with the price of SBD directly. Time will tell, I guess, but even then, it's still a correlation, not necessarily a causation. Most likely, they both go up and down based on the larger cryptocurrency market movements.
I'm not as familiar with NuBits. I'll have to look into it. I remember hearing about it as one of the pegs that broke, but it seems like it's doing well recently. I'll have to give it a second look. And yes, I think BitShares has a lot of room for growth for many reasons.