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RE: What the Hell is Going On with the Price of SBD?

in #steemit7 years ago

SBD has been way too high for half a year now and it seems the witness crowd is rather stoic about the complete and utter failure of the singly pegged coin, that has been unusable for goods and services trading now.

The solution I think is pretty simple: Make SBD doubly pegged with some reasonable bandwith. Instead of a single unidirectional peg at $1, move to something like this:

  • Move the $1 peg to $ 2^(-0.25)
  • Add a second peg in the opposite direction at $ 2^(0.25)

A double pegged coin allows for a services economy, a single pegged coin, as the last six months have shown us does not. But while the fix would be simple, most witnesses seem to no longer have their eye on the ball in this game.