We should rename SBD to Steem Batman Denomination. Because it's not the currency we want, but it's the currency we need.
Whoever puts up the collateral is at risk. The blockchain puts up the collateral, so it's at risk, which is reason enough to completely unpeg SBD. It's just a theoretical risk, but still.
If SBD is unpegged, then it should also be removed from the rewards mechanism. It should just be an asset on the blockchain without new emissions. I'm fine with that.
Even setting aside any reward mechanic, we still need SBD, even if it was completely unpegging.
We need it because getting a symbol on an exchange is expensive; we should see any Steem related listings as golden. Once people buy SBD on an exchange, that's as good as onboarding because they might be inclined to get a private wallet. They'll end up on steemit.com just because they bought some SBD.
We need it because having any supply (fixed or no) is potential exchange volume. Any external trade volume is good for the blockchain.
I hope only inexperienced, unstaked users buy into the notion of "getting rid of SBD" because it seems very short sighted. Setting aside exchange listings, who knows if we'll one day want a nice asset with existing distribution in HF28 to use just for staking high CPU smart contracts or something ...
In my humble lacking opinion, SBD's are fine, and we should leave them alone. Its another way to move money around internally and its fun. Makes people think. That is a good thing.
Interesting, I've been watching the debate and not sure how I feel about it.
I don't know what removing it from rewards would cost in terms of development or Engineering, but I hope we can "Stay the Course" in terms of SMTs. Thank you for weighing in.
I hope they don't get rid of the SBD, and I agree with naming it after batman.
A newbie question: Is there something wrong with the status quo when it comes to SBD?
Nothing major. The partial peg bothers some people, though.
Then Steem Batman Denomination it is 😃
Good to read your vision and words about the SBD and genuinely i don't know the Technical aspect of SBD but for sure sometimes it reflects as SBD is over shadowing Steem.
I joined the Steemit Platform on October 2017 and at that time i was not aware about the in and out and i experienced that everyone was running for the SBD because SBD reached around $15 and as i was new also lost some SBD's on the Exchange.
And i also gone through from some posts where Steemians are not happy about the SBD and they strongly believe that it's over shadowing the Steem but don't know how all this will going to work, because when the prices were high then we didn't had much discussion about the SBD.
And now we have to see what change we will going to experience when One Account One Vote and Oracle System is implemented and let's hope for the best.
Thanks for sharing this post with us and wishing you an great day. Stay blessed. 🙂
I hear a lot of top dogs calling for the removal of SBD, stating that's it's holding back STEEM, I know there must be pros and cons.
Love the name change ;-)
Crypto... Robin. I get it! Steem Batman
Excuse my ignorance @inertia but is that they want to eliminate the SBD? really what I do not find logic is because many want the SBD to $1 if the posts win in SBD and in my case I spend 10 hours or more to make a drawing and I only earn 3 SBD is not profitable to spend all the days 10 hours or more so that at 7 days only 1.2SBD is obtained that at the value of 1$ each SBD, it would only earn 1.2$ :(
Since nobody can seem to agree on whether the B in SBD stands for Based or Backed, Batman seems like a reasonable alternative.
This brings a new meaning to the term “slanging bricks”