I think the issue is as always, traders and the the perception. Calling it Steem backed dollars was in hidsight perhaps an error. People see the word dollar and it gives it a sense of security, or even legitimacy which gives the traders confidence its value. Its also encouraging people to produce more content, albeit a lot of it rubbish but nonetheless, anything that encourages members to write and stay in the community is not a bad thing especially as the retention rate here as been reported at a dreadful 12%.
Best wishes and another great piece. Thank you :-)
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really right...bro
I think that it was a mistake, they should rename it and disavow any association with a peg to the dollar. They run some risks if they continue to do so.