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RE: Should SBD Be a Pegged Asset? If So, When Should We Peg It?

in #sbd7 years ago

Hi @lukestokes

I think that plegging SBD to the US dollars is a great idea.
First because SBD brings also confusion to new users that are coming on Steemit.
It is supposed to be valued around 1$ and then it is worth around 7$. I heard of people struggling to understand why they should buy Steem and not SBD and oppositea and not understand how this is supposed to work.
Second, Tether will collaps and we need to enter the market. As you said, people need a pegged assets because it's a safe heaven during crash. And the Steem blockchain will be more than able to handle the new upcomings transactions when crash occurs. The free fee will be also a positive point for new users.

I definitely support your thoughts.
Joris

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I think many agree a pegged SBD makes sense. The trick is getting there without screwed anyone over or angering people who really do enjoy high SBD values right now.

Hey @lukestokes, I read your article this morning, thought about making a whole post about why a well pegged SBD is beneficial, but your comment here sums it all up. There is already consensus in the witness ranks leaning towards a well-maintained 1 SBD = 1 USD peg. The discussion is only about when and how to enforce + how to smoothly get there without screwing anyone over.

This tells me:

  • the problems and consequences of an out of control SBD value is signaled and recognized
  • the arguments made (on different sides of the debate) nearly all reflect answers to the most basic question: "What is most beneficial to the Steem community in general?"

I think this is just another very fine testament on how open, transparent, efficient and well-thought out governance can be executed in a DPOS eco-system. This is what happens when the incentives of users, stake-holders and developers are in alignment!

I'd advise Bitcoin to take notice, also some governments could learn a thing or two here. It's beautiful.