Manipulating a currency (sbd) never works - It never has.
Pegging against the dollar, a fiat currency makes no logical sense to me.
Sbd - 'a bridge too far' in the steemit infrastructure in my opinion.
When hubris meets free markets, only one ever wins..
But I'm stupid, what would I know?
lol
Hmm... I about to always having mixed feelings about SBD, too. The main issue is that as Steem begins to gather widespread attention, SBD confused and weakens the idea of Steem. It's too much for newcomers.
Sooner or later SBD probably has to go, but for now there's a strong case for needing it as a precautionary measure.
against what?
SBD addresses the biggest and most valid criticism of stable tokens, which is that they try to make an impossible promise of a guaranteed value, something, as you say, the market may not support. SBD doesn't do this. The 10% "haircut" rule (described in the post) says that in the event Steem as a whole isn't worth enough, SBD drops off of the dollar peg.
I agree. be gone with the useless sbd.