I love the idea of reducing steem dollar % payout on rewards.. however might I suggest that the existence of Steem Dollars will always be a black swan waiting to happen unless a lot of awkward patches are created..some of which you've presented here. Auto converting Steem Dollars for Steem Power if ratios get to dangerous levels is fine..but what about a Dodge? Users who didn't want this could move all Steem Dollars to an exchange. Worse..users who wanted to harm Steemit could do that and then wait until market cap troughs and slowly feed dollars back into the wallet to convert for Steem. Right now the system is young and I think this is its biggest mathematical threat. Forcing a new system to have sufficient market cap at all times is a lot to demand on an already new endeavour. I propose an auto conversion before long of Steem Dollars for Steem Power or Steem. As far as Steem Dollars on exchanges, either consider that a minimal risk and allow it to remain for a time or have a cutoff date whereby Steem Dollars will disappear. Prune the branches and let the project survive without the awkward risk and patches.
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