This should be implemented: https://steemit.com/sbd/@timcliff/saving-sbd-proposal-to-restore-the-usd1-usd-usd1-sbd-peg
and everything will be ok again.
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This should be implemented: https://steemit.com/sbd/@timcliff/saving-sbd-proposal-to-restore-the-usd1-usd-usd1-sbd-peg
and everything will be ok again.
If we are going to make big change to fix the system, why not rewrite it completely? I think the BTS system is much better because it removes all systemic risk from the blockchain. So if we are going to keep a price stable currency on this platform, why not copy it from Bitshares?
BTS system is too complicated! And.. there was never a successful peg. BitUSD was always more expansive than USD.
It has been holding the peg much better than SBD because it's so easy to crete more supply if there is more demand.
so lets add a possibility of creating more SBD on demand, as timcliff suggested.
It still keeps the systemic risk. If the price of steem is in a bubble and demand for SBD happens to be great, people will create too much SBD. There will be problems when the steem price gets corrected down again.
BTS mechanism is better because users who create SBD will bear the risk, not the whole platform. It's unfair to force every user to take part in cryptocurrency speculation markets.
I get it what you mean, but still BTS mechanism in my opinion is far from perfect. It is too difficult to explain even for professional traders.
the funny fact is... that if we remove SBD, then actually 100% payout will be exposed to speculation about Steem price. Right now people can avoid that keeping SBD.
When we are dealing with financial instruments, we can't simplify them so much that they don't function properly. If properly functioning feature is too complicated to explain people, maybe we shouldn't have it. The derivate markets are not our core business, anyway.