SBD is in my opinion one of the potential "killer apps" of this blockchain. A stablecoin based on the most sophisticated mechanism, "seigneurage shares"
First of all, it does not need to be "equal to $1" - it just needs to have people trust that it will fluctuate between $0.95 and $1.05 about 99% of the time (the more the better)
Let me repeat that: a stablecoin is not one that is rigorously "equal to $1" all the time. A stablecoin is stable if it stays within a 5% "band" (on both sides) about 99% of the time (or more)
as stable as possible because it then needs to go to Bittrex (or someplace else) and exchange those SBD for fiat in order to pay his suppliers (Munhowen, Heintz, etc.)What is its utility? Well, we know each other so you are certainly aware about my previous plans with @gudde-wellen (plans were alas wrecked by HF20). If the bar owner is to accept payment for beer (or anything else) in a crypto, it needs something that is
SBD is the gateway for the steem blockchain to conquer "real world payment use cases" outside the "content creation" ones that are currently in focus
You know how the BTC and BCH communities are fighting to get bitcoin adoption for payment use cases ? They will never succeed in my opinion, despite lightning network and 128MB blocks. Not because of IT reasons but because of economics. The economics of bitcoin (deflationary) make it a lousy "medium of exchange"
SBD could be "the bitcoin killer" in the payment area. And it doesn't even need to be equal to $1 all the time for that
Thanks for sharing this interesting link about seigneurage shares, I didn't know that.
I am in the opposite way of thinking, I am afraid that SBD could be a STEEM blockchain killer in a kind of self-murder or hara kiri. Here is on of the my first post https://busy.org/@elmetro/the-new-world-day-4-the-kryptonite-of-steemit where I try to warn @ned
Or better yet work on getting the suppliers to accept it. Not all will of course but start with even one.
Theoretically, yes. In practice you are envisaging a small bar owner, who is already taking the risk to accept crypto, going out on a limb to persuade a big bulk seller of beverages which has hundreds of customers like him and is big rigid corporation to accept payment in crypto for bulk orders .... I'm a dreamer myself but ...
Maybe its not the big bulk seller. Maybe it is a local flyer that does advertising, or paying the bouncers, or ....
I agree with you that trying to convince a huge distributor from the local bar level is not the way to go.