some would just correlate the success of the Steem platform to a high SBD price.
Which would probably be a mistake and a misunderstanding of the actual economics at work here. Please see my reply to the comment you also replied to.
You are viewing a single comment's thread from:
it could be true or not
I also understand your point view, But let's accept that steemit.inc love the high price of the steem/sbd.
It is not true that 1:1 ration to sbd/usd coz it is not the steemic inc gives the price-but the market.
What you gonna do as the current moment of high sbd price to make it 1:1?
1:1 of sbd/usd fail even the first it was implemented. Why, We know crypto was heavily paired to btc, if btc fall so as the value of sbd.
Now, about your view of sbd correlation to steemit success, we may say that it does hold any solid evidence that it was, but Is it not?
With all due respect sir, This is the beauty of decentralization, Let's becareful of changing what is current price of sbd now,
I do believe that sbd was created for the success of steem. COz if not, why create sbd.
Because a pegged asset is valuable. See the "world domination" post I linked to in my original post.
I know that sir, But what I see even the First implementation of sbd as pegged asset already fail, even the first it was implemented.
I don't even trust tether as pegged asset to Usd, it also fail,
I know also sbd was created for stability of the platform or for the success of the platform.
You must considered also the the views of the traders who gave price of the coin,
Still, moving into a two way conversion pose a threat of the plat form.
Still I believe, SBD cater the success of the platform and it did.
and still, Even the first place, sbd was not really pegged asset, unless you have funds already back up in the market,
Still sbd fails to be $1 each since it is bitcoin who gave the sbd price not usd.
At least sbd became $1 usd in algo runs in the platform, but you must consider first the current value of sbd given by the market, or if not you want to manipulate it also to going down,
Pegged asset should be back up by funds as it was a debt instruments, did it exist? where? if it is, it already fail since it was implemented.