I've voted you as witness for your insightful thoughts on this... your witness account is lukestokes.mhth yes? I'm sure it is, but still want to check...
I disagree with you in the timing, I'd personally prefer to bite the bullet and do the hard work now.... it might be harsh, it might be messy, but no time is ever going to feel like the right time, there's always going to be reasons to not... but the way I see it is if ecommerce and app developers are cautious to use this platform because they don't know what price they can set their products or services at... then that's a problem that slows the build of Planet Steem.
Regardless, you really seem to have thought it all through, and I couldn't ask for any more from a witness.
Yes that is his witness account.
Thanks heaps Smooth!
Thank you so much for your support. I really appreciate it.
As for the timing, I tried to make it clear that on this issue, I will go forward with what the community seems to want most. If people started voting based on those who are willing to support the peg or not, I may change my position on the timing and, as you said, bite the bullet. Ideally, we'd do it in such a way as to ensure as few people as possible get burned by the change.
In the meantime, my advice remains the same: as long as SBD is above $1, I sell for STEEM. I hope others will follow that example. If everyone did that as soon as they received post rewards, the only people who would get burned by an SBD correction would be the speculators who caused the peg to break in the first place.
I wouldn't be so quick to act. I don't think we fully understand the implications of a two way conversion, which is why these discussions are happening in the first place.
I'm more focused on economic stability first and foremost. Right now, I would consider things stable and well understood even if the peg is not working. Yes there do appear to be reasons to accelerate the peg, but the reverse conversion idea I'm very hesitant about.
Ultimately I am pro peg and it's like the post mentions, it's about timing and how we proceed.