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

in #sbd7 years ago (edited)

I hope I don't come off as whiny, I just try to wrap my head around this by voicing my concerns:

A healthy economy is an economy where wealth is distributed from the bottom. In order for wealth to be distributed from the bottom, the majority of the wealth has to remain at/with the "bottom" (in circulation). Apostophes because I refer to bottom as the majority of the community/population, as opposed to the current world economy where most of the wealth resides with the top 10% (fictive number, but you catch my drift).

To achieve this with STEEM/Steemit we need to have a catch up mechanism in place that over time closes the gap between the big fish and the small ones. We got this in a non pegged SBD.

And now you advocate to take it away.

This whole situation is very interesting from a political viewpoint because it is in effect a conflict of interests between the whales and the rest of the community. By pegging SBD to the dollar you harm the rate of growth for a large part of the community, effectively enhancing the divide between big fish and the small (assuming the whales are not vote trading most of their voting power, in which case this divide will persist regardless).

And divides like this are not healthy in the long run.