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RE: Should SBD Be a Pegged Asset? If So, When Should We Peg It?
I also like the idea of a better STEEM distribution and if people take high valued SBD rewards to buy STEEM and power it up, that could certainly help.
At the same time, a high SBD value may only further encourage those who are taking a massive amount of the rewards for themselves already. Example:
grumpycat transfer 3,014.813 SBD to bittrex
So it goes both ways. The new users could benefit and the entrenched holders could benefit more.
Thanks for chiming in and taking a broad view of the topic. There are costs, benefits, risks, and rewards on all sides of this discussion and it's important for us to understand things as best we can to make decisions which benefit the most number of people.
"a high SBD value may only further encourage those who are taking a massive amount of the rewards"
Oh yeah? ONLY the whales, aye? Have you ever had to worry about money in your life? Let alone do work to survive? I'm sorry to sound harsh, but the incentives are ENORMOUS because of SBD. You really don't need much to survive in this world, which is why I'm asking you if you understand how much the rewards make people happy. Again, sorry. But I had to ask.
$0.36 under this comment, which today is $2.16. Write a few other good comments and you've got a day's worth of salary for many people. Is that not encouragement enough in your view?
Hello Bobby. In answer to your question, yes, I have. When I was in high school, my parents lost the house we lived in and we moved on to a boat. Food was donated to us and money was very tight. You can read the whole story here:
Living on a Boat for Two Years Shaped My Life.
That said, I won't get into a victim scoresheet process where my victimhood grants me a voice in any given discussion. Short-term, "poor" thinking leads to poverty. Long-term, "rich" thinking in terms of investment, time-value of money, compounding interest, understanding probabilities, etc, etc leads to abundance and prosperity.
Have you considered you may be thinking short-term which may actually harm the very people you want to support? If STEEM has gone up 46x and SBD only 7x, why are you pushing for the loser in that race? Why not further incentivize more exponential growth in STEEM which increases the entire rewards pool (both for authors and curators)?
I'm not ignorant about how some people's lives are radically changed here because of simple upvotes. I've tried to delegate my witness earnings to help support important communities here.
I'm all about making people happy and fully recognize how the rewards do that. I'm not willing to automatically assume a high, non-pegged SBD is the best way to increase those rewards and I've spent many hours making my case in the original post.
will vote for witness after this game, XD