Is the ecosystem hurt if SBDs were to fly to $25 or $50 or $100?
I don't really think so. What I think I understood in the last couple of weeks is that the role of SBD as a "pegged" asset switched from "stability" to "futures". So it's not much the effort of keeping it at a certain price that gives it value, but the mechanism that sets the debt-to-ownership ratio in the entire system.
I mean people are going crazy about Bitcoin futures starting to get traded tomorrow, and we already had a futures contract under our own nose.
The "under out nose" part keeps growing.
People do not realize that steem is a de-centralized exchange already and will operate that way with the tokens that are created via SMTs.
The more we learn about this blockchain, the more exciting it gets.