The witnesses should be paying interest on sbd now to keep its price up.
But, most of the sbd supporters left after stinc kneecapped us and went on walkabout.
Now there is no support for it.
I like it because of its intended protection against volatility.
If I spend 10sbd, it will always be roughly 10usd.
Whereas if I spend 10steem and steem 10x's, what I bought now cost 10x's more.
No worries of 30m usd pizzas.
And if the witnesses were doing their jobs I'd be getting interest for holding them, too?
That is a no brainer, to me.
Interest doesn't come from thin air. With the debt ratio for SBD already being over 15%, printing more seems even more untenable than it currently is.
It all comes from thin air.
I'm at a loss until the price comes back.
I do like the idea of sbd, though.
I think we should pay interest under some conditions but at the moment SBD is in "recovery mode" after the last STEEM dump off. Under these conditions we need the supply of SBD to drop, so we don't want to go out of our way to encourage holding it.
If STEEM continues to drop 50% in value every time Cardi B has her nails done, SBD will never work, and no crypto-backed stable coin would ever work under those conditions either.
I saw today we are now down 99% from the high. Not good.
I don't know what to do, either.
Without a price recovery the eip is going to be less exciting.
I'm glad we got folks to pick up the ball and draw stinc back from walkabout, but I would like to see the new math work for awhile before we make any more changes.
Agree