I'm very pro SBD but the community really needs to come together and find consensus in how we can possibly peg it to its intended value of 1$ because if we remove it you will be taking an incredible tool away from the businesses that are looking to get established on the platform.
You say in the post that you don't sell volatile securities, but if we removed SBD then all the businesses on the platform would have to either work with Bitcoin or Steem which both are volatile (not implying sbd isn't volatile, we need to pegged and stop its volatility).
If you kill SBD completely, things like @steemmonsters will probably have a harder time operating, because, why would people pay with Steem for digital cards when you can power it up and earn more money that way? People are more willing to let go of their SBD because even though it can be interchanged with Steem, it doesn't have the same psychological effect on you when you use it, when you buy something with Steem you will most likely be regretful because, what if the price increases or I could have used it to power up and get better results, but when you use SBD you don't get the same regrets because its supposed to be worth 1$ anyways right, so even if you get 1.20$ worth of value when buying your card packs, you will like you are getting a lot (this is all a psychological effect in my opinion because its almost the same)
Well looks like i wrote more than what I intended too and i ended up rambling on a tangent sorry :^) but my opinion holds, We all lose if we remove SBD, lets fix it instead of killing it and maybe one day it will be preferred over the likes of Tether or TUSD thanks to the transparency of Steem and the big community that will be backing it will give it more trust over shadowy cabals at Bitfinex :-P
Your steem monsters point is perfect. Remove SBD you kill steem's business functionality . You remove all functionality businesses need. BUT SBD pegs been broken for so long, we are fooling ourselves ... maybe we really do need to get rid of it.. this one drive sme crazy im on teh fence and cant decide
Sometimes i think Its just not possible to remove SBD, now letts move on and stop talking about how we should be removing our livers because "we dont need it" LOL thats what talking about removing SBD is like... But then again it hasnt been at 41 for almost a year now and we are kidding ourselves with this broken peg. But when we DID have a peg it was maintained very well! I understand that the only reason the peg is broken is because the witnesses decided to do this. It must be that way, it is the will of a few power users i mean.. they WERE keeping the peg for so long... then what happened?
I do see how It would be great to get paid only in steem and get to make money as steem goes up like 50 cent accepting Bitcoin for his album in 2014 and making 8 million dollars off of it... but then you also cant do things like allowing for SBD to be $1 and use it as an actual currency,
you end up with people who make deals or bets end up having to pay 10 times more as steem goes up, we need pegged assets that are stable... having your currency go WAY up in price is GREAT when you hold it but on the flip side it is hell for anyone whop then has to try using it, no one is able to get anything done ista mess
but ist already like thata nd i guess we just have to be used to using a rising currency
we are just going to have to get used to hyper inflation one day with teh dollar
the dollar will collapse one day when people just stop caring about maintaining it once the smart people all have crypto.
There's multiple solutions to the peg that have been proposed and tossed around multiple times but they where never taken seriously because sbd was flying through space when they where proposed, but now that the price has fallen close to the peg, we have a decent window of opportunity where we could take swift action and do something about the peg.
Don't get me started with hyperinflation :^) I'm from Venezuela and we've had 45000% inflation in the past year and i've been trying to get all my family and friends to move their money away from the VEF and into crypto way before the wild ride of hyperinflation started! Imagine buying something for 300$ one month and then 3 months pass and you see the price at 5.000$!
Now imagine that but 300.000 and then 3 months later the price is 5.000.000! I've seen people on the streets take minutes to try and process the mad numbers we are working with! I bet that in the next few months we will be working with billions and trillions!
damn, i never thought having to think about billions and trillions would end up being such a shitty thing lol im so grateful to have a fiatpaper currency that isnt controlled by assholes,
Our illuminati takes CARE of us man... cremation of care lol... no but seriously venezuela shjows what COULD happen but it DOESNT happen here... because have.. DISCIPLINE hahahaha i mean its still bad to just print money but somehow we find a way to do it without destroying the economy! Why cant venezuela? Why are the venezuelan socialist government assholes just printing so much money? Is that how they pay for their government programs? D they Tax people AND tax them again with inflation? Why do your people vote for such criminal socialists time and time again? Its like they never learn. Must be a very low IQ population? No? well whats wrong with you guys then?
EVEN as we print trillions of dollars we somehow dont manage to hyperinflate our US dollar YET
When it DOES hyperinflate good riddance! ill be happy to be the richest person on my neighborhood and all of you will be too! People will come try to steal your private keys so make sure you are all staked up into Steempower and have the stolen account recovery feature on standbye :D
Sadly, I was basically born into this mess, I was 3 years old when the socialist came into power, the people that vote for the socialist have 2 common characteristics, they have this deep hatred against people that have more money, resources and education than them (hatred towards the "bourgeoisie") and the lazy people that prefer to live in a shithole, not work and recieve free food and aid from the government, what do these people do if they don't work? beats me, probably watch tv all day and breed because the revolution needs more soldiers :^)
Thankfully right now, I finally managed to get another passport and I'm gathering my resources to leave so the 20 year long torture will end soon.
I don't think that way. If sbd will be removed there will be a lot of demand for steem, for steemmonsters and for every project. The projects can adapt :D This is a very important step for steemit.inc in my opinion.
Let's assume you are right, tons of money goes into Steem, let's assume we get into an scenario where steem slowly raises non stop to 100$, who in their right mind would spend Steem on cards or services when the price continuously rises? We will get into a pretty stagnant HODL situation where none will spend because the price keeps rising... that's why we need a pegged currency to do trades and buy and sell stuff on the chain, that's the whole purpose of SBD! To enable business to run, be it on a bear or bull market.
that's false in my opinion, trust me, there are a lot of whales trading steem and a lot of whales waiting for steem to reach $5 so they can sell. How can you be afraid people will hold when this is good. lol
I think you actually gave more reasons to my argument, why would you willingly spend Steem to get Steem Monsters @ 1.50$ when you know it will eventually reach 5$+ in the future? Why would you spend it instead of holding it for trade or powering up and use it to get extra revenue?
Thats the reason we need a stable, pegged currency, so that people spend money on the businesses that are getting established on the platform, because want it or not, a lot of the future success of the platform after we manage to solve the creating new accounts problem will be thanks to businesses failing or finding success here, the more successful business stories we create here at Steem the more likely other people will be encouraged to start a business here and with that comes money! SBD will be the tool for those businesses to run and recieve payments while Steem will be the lifeblood of the accounts and the bandwidth/ resource points in hf20.
I would buy steemmonsters thinking I can make more money than holding steem. I would buy any product I need with steem at any price, I like using crypto and not cash. We need steem to be in the light and not sbd. Steem blockchain is important. You have to understand there are people without a job in real life, like me. I live from cryptos.
If I need food I sell steem at 0.5$, easy like that. But of course I am also holding some for the future, that's how things work for most of the whales on the platform.
When someone wants to buy a lambo with steem he will buy even if steem is $1 or $10 lol