I can see how a stable SBD would attract resources that just want to be parked for a period of time without the extreme volatility. The crypto market is in desperate need of more stable options for sure. But, is stability the unique mechanism the STEEM ecosystem is trying to offer? For me, I don’t think so. Cash flow is STEEMs unique mechanism. Selling dreams of cash flow is much more attractive in my opinion then stability. I didn’t get into crypto for stable prices. I got into it for big gains and cash flow. The way the SBD is currently “broken” creates the most amazing opportunity for income growth I’ve ever seen. To change this and opt for stability would be a huge mistake from where I’m sitting today. Over time my mind may change, but for now I want the highest levels of cash flow possible without much weight being put on stability. Thanks for the post and getting this important conversation started! Resteem
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Correct. We're still at our infancy stage for me and we need more and more sustainable income. If steem attracts more people joining the platform (including big whales/players), then that's the time a fork or change needs to happen.
So I'm admittedly new. But why would new people on the platform mean needing some sort of change? Maybe a better question of why specifically a fork or other change in case of growth?
Well put Brett! I was going to put in my 2 cents about this but you have taken the words right out of my mouth so all I will say is... Ditto!
This comment right here. The two trails of thought I'm seeing sum up cryptocurrencies perfectly atm. On the one hand we have those seeking a useful tool (a stable currency), and on the other we get those looking for the next big thing in investment. This is why the chaos we have coming from so many different currencies is actually a really good thing - just like with many other things, there is not one method to suit everybody, so I'm just glad that we do have so many (in time the ones with true value will stick around). In the context of Steem, however, it would make sense for SBD to have a stable price - this would boost the price of Steem greatly over time (and, I imagine, quite reliably because, as it's been said, stability is a genuinely useful commodity that we need in the crypto market), and in this way benefit both investors (those looking into Steem could simply invest and know safely that their investment will grow as more people join this genuinely great website) as well as those looking for that stability to make sure that the money they spent a week ago doesn't suddenly become worth all of what they own now or anything like that. Just my thoughts as a crypto newbie :3
I'm new to steemit, and steem in general, like some of the commenters below. I read this post and replies with interest, and I appreciate the reasoned discussion from both points of view. I don't yet have a good enough understanding the system to have an opinion, but hope to be able to offer useful input soon.
Thanks for your work in developing this community!
Thx for help :)
I totally agree with your opinion👏👍
Nicely said Brett I'm agreeing with you
Forcing the peg back is anti-free-market and pro-regulation. It's everything crypto is against.
Witnesses arguing for a repeg should be unvoted. They are literally attacking your wallet while printing 100+ Steem a day.
Congratulations! Your submission earned you 3.708 STEEM from this bounty. You have received 3.547 STEEM from the creator of the bounty and 0.161 STEEM from the community!
Please help me I’m new
It takes time . You have to keep reading and studying.
Same here, follow me, then, will follow you :)
Hi, bosslui. I'm new too. I would like to introduce Korean culture, K-Pop, and food etc. Please follow me then I will follow you :)