I have a question: Why the fck does ANYTHING "need" to be "done"? What the hell is "wrong" with a STEEM price of $6 and an SBD price of $6-$7? Is this somehow bad? If yes, then why (the fck)? I'm sorry guys, but it makes me extremely mad how people on here want to regulate sh*t like some politician - EXACTLY the reason why people fled to Steemit in the first place! Most people here are libertarian anarchists who don't want economic regulations and price-controls, so I now ask you why in the world people are even CONSIDERING this. Please respond, because my anger is bubbling over.
Again, a price of $6 and $7 in TWO SEPERATE currencies is such a tragedy, right? I mean, seriously, guys? Are these people mad? Are they masochists? At least help me understand. Maybe I'm missing something, but I'm literally unable to find a fraction of a reason to try to STOP something literally amazing in terms of economic development. My brain has imploded...
I think you misunderstand a few things. First thing, there is nothing socialist/communist about creating a pegged asset. Those systems are based on people sharing resources, usually executed through a coercive government that forces compliance.
I'm assuming that when you use those terms you are referring to force and coercion? But that is still not the case because no one is forcing anyone to use steemit, steem, or sbd. The entire system is completely voluntary and we can all do what we wish as long as we follow the rules. If we don't like the rules, we can leave. One of the rules is that we can vote for witnesses and the witnesses can decide on rule changes.
Second, sbd are designed to be pegged at $1. That is the whole point of them. They are are debt instrument. Steem was designed to have the "steem" token that would rise or fall in value based on the value of the community and the "Steem Backed Dollars" (SBD) that would be a stable store of value. There is no point in having two currencies that do the same thing.
The only reason SBD are so high right now is because people who are buying them and holding them don't know or understand that the value will be driven back down to $1 over time. Once they realize that, the value will crash back down. How will everyone feel when suddenly their savings in SBD are wiped out when the price crashes back down? Keeping a good peg will prevent that confusion from happening. The average person shouldn't have to worry about how high or low SBD are from day to day, they should just be able to trust that it will stay at a stable value.
Right now, SBDs are in a bubble (true value at $1, market value $6) that will eventually pop. Creating a peg will stop a bubble from forming in the first place.
I am enjoying selling my SBD for these high prices as much as anyone else but I feel bad for whoever I am selling them to, they are going to lose a lot of money.
(I posted this on your blog post too but I thought I would reply here as well so more people can see it.)
Your brain is doing something alright. I've responded to you numerous times already, so I won't repeat myself here. It's clear to me from the comments you're making you don't fully understand what's going on here and your pre-conceived notions of control is causing you misplaced anger. Maybe go for a walk, get a glass of water, take a few deep breaths and then sit down and read the white paper a few times. My post outlined the potential issues and lost opportunities for the entire ecosystem when we continue on with a broken peg instead of pushing that value into STEEM and out of SBD. If my post wasn't helpful for you, then I'm not sure I'm the one to help you further. I've done all I can do to start with definitions and first principles and then move forward from there.
You mention libertarian anarchists which is a label many would apply to me as well. I'm no fan of the myth of authority nor do I want tribalism. What is frustrating to me is that you're attacking something here which is fundamentally voluntary. There is no "centralized control" as you keep describing. The proposal of a two-way conversion is something individuals, not some central authority) control.
If you have thoughts on this, please, post your first full blog post and explain yourself. You've been here since July of 2016 without posting a single root post. From that perspective, you're not even contributing to the community. Please, get involved and contribute and then your voice and opinion will carry much more weight based on the value of your contributions. That's how voluntaryism works.