This post is split in two parts - the 1st part is an Update about my Activity as Witness and the 2nd is about my Thoughts as Witness about the SBD-Peg
1.) Witness Update
4 days ago, I published my Witness Introduction and the feedback I received was amazing!
I went from Witness Rank #165 to #115 in the last few days - about which I am super grateful!
Even though I sadly missed my very first block due to a silly copy-paste mistake - I can now proudly say that Block Nr. 2 and 3 were successfully witnessed.
N°2
N°3
I was fairly angry on myself after my mistake - since I'm somewhat of a perfectionist. But in the end - it happened and I learned from it.
Nevertheless, the node and price-feed are both running very smooth.
500 SP Delegation
I have also delegated 5 x 100 SP (for a month) to new german speaking Users, who are either already involved in developing with/for Steem or are interested in it - with the goal to give them enough bandwith, so they don't run into any problems.
2.) My Thoughts about the SBD-Peg
TL;DR: I am against enforcing the peg through a reverse conversion, but for the future a stable SBD is important.
I had a very strong opinion against the forced SBD-Peg to 1$ in the beginning, and while I still believe that now is not the right time to enforce it, it is still crucial for the success of Steem to talk and think about this deeply.
Pegged SBD? In the future, but not right now
The biggest reason to create a pegged SBD right now would be to give people an alternative to Tether (besides Bitshares CNY & USD and other alternatives). And it makes sense - the FUD against Tether is strong.
I don't want to repeat all the details about why a pegged SBD is valuable, since so many Witnesses have already talked about it - but in the end, it results in one thing:
A pegged Asset is valuable because it gives security and usability.
A pegged SBD can be used:
1.) as a storage of value which gives security for the volatile crypto market
2.) as an Asset for business cases. It is easier to say: something costs 1$ than to say something can cost 1 SBD or 10 SBD depending on the SBD Market-Price.
For me and I guess the majority of Users the 1st case is the most important one. Especially with all the drama about Tether.
However - while a pegged SBD will be very benefitial for the plattform / blockchain - it hurts the Users, who are making a lot more profit right now, using Steem, than they would if SBD would be pegged.
A pegged SBD would be good for the blockchain, but not for it Users
I'm in Steem for the long run. I believe that Steem will have an incredible future and that's why I want to support decisions that improve the blockchain.
And my personal believe right now is, that the blockchain - with all its amazing Projects on top (@utopian-io, @dtube, @dlive, @dmania, @busy.org, @chainbb and more - is made by its Users, and not the blockchain.
Steem is valuable because of its Users and Projects
Steem has many benefits over other blockchains and while this is def. a big reason, that for example @elear decided to build utopian on Steem.
The main reason @utopian-io is what it is today, is due to the work that @fabien and the whole Busy team put into @busy.org. Which was then forked and customised by @elear and afterwards improved and features added by @stoodkev, @samrg472 and other great steemians including me.
What I'm trying to say with this is:
Steem is a Blockchain. Steem is not Steemit. Steem is more. And all these amazing projects that are build ontop of Steem are made by Users - who receive value and payment mainly through STEEM & SBD.
Pegging the SBD and thus reducing the Payments drastically (at least times 3) would hurt those people the most - who are one of the big reasons why Steem is so valuable.
I actually prefer on keeping and rewarding our current Users, who are actively working on improving Steem - instead of doing everything we can to attract as many people as possible.
Yes, pegging the SBD might increase the value of Steem over time. But it will drastically f*ck those people who are working on Steem.
I don't take this decision lightly, because I know of the risks that volatile coins besides Tether & Co. have - but the currently high SBD value gives many people the Motivation they need, to work actively on improving Steem.
Do you like what I am doing and want to support me?
Hi Just letting you know i voted you as a witness , my request for white list is still pending , 4 days in how long does it take roughly ? Thank you kindly xx
Hey@deeviras, thank you for the vote! Please give us a bit more time for reviewing - you will receive a transfer as soon as your status has changed :)
Hi @therealwolf your most welcome , I got whitelisted the other day with 1 star :D , x
I feel we don't have to work so hard to bring more investors to steem, especially at the expense of the existing users. It's a good idea all the same and probably could help increase the fluctuating value. Investors these days are looking for alternatives to bitcoin since it's continuing downward spiral and it's only a fool who'll say steemit doesn't have good potential. We the users are already bringing investors and with time we'll surpass even facebook. Thanks for your incentive @therealwolf
thanks you shareing the information......
Is it possible to use a Smart Media Token for a stable asset instead? Provides the utility without the disruption. Peg it to a commodity basket like the average price of a loaf of bread, a dozen eggs and liter of milk... or pizza.
yes i like what you are doing, keep going
"Steem is valuable because of its Users and Projects"
Fucking right! We are are valuable as our projects and people, getting bigger and better can mean just one thing (no, not beer) #SteemToTheMoon
It's actually not as simple as "To the mooon!". It goes up and down in intervals. There are people who try to peg SBD to the USD, others who try the opposite, and as the amount of people rise we get a higher value. So yeah, it's probably going up a lot, but the effects and nuances need to be analyzed before getting hyped up.
Actually when i say "to the moon" i mean in a time lapse, a healty time lapse, there's nothing better than a healty moon.
Well, maybe icecream in the beach, but that's just me.
Anyhow, thanks for the info, there's nothing better than info given to a stranger with a good intention <2+1
I see that we as users have witness votes to give out. I know nothing about them. Do users get anything for this or does just help the witness. I'd like to know what I'm supposed to be doing with these.
We are with you on the whole not agreeing to the 1 SBD Peg for now. We at @steemitfamilyph may not be the biggest group out there nor the strongest as we mostly redfish. We have you voted as one of our witness.
Its going to hurt a lot of the smaller to middle level ones who do not earn a lot. By having them at a distinct disadvantage will cause them to get frustrated on the slowness of their growth and may even push for them to quit.
I am hoping the the witnesses will consider the ramification on this and look at not just the blockchain but also the users who are here using it.
just voted for him boss
Thats interesting but why did SBD rise when it was pegged to 1USD in the first place, i got couple of responses but still not clear.
Congrats on your 2nd and 3rd block witnessed lol & there you go mate
More success.
It is not pegged but guaranteed to be at least $1. it cannot go lower but can be greater.
I'm not sure I feel comfortable pegging anything to the USD. Its only a matter of time before the US prints it into oblivion.
We all have to learn from our mistakes...congrats on your witness success...2 out of 3 aint bad :-)
very nice information thanks for share
I like how you're seeing things and that's why I voted for you!
Let's grow this blockchain higher than clouds!
I'm a bit fearful about converting a (bit) of my STEEM into SBD to increase the potential rewards that I can get, but a sudden peg worries me. If after all it's decided to make 'a intervention', we can expect some type of announcement?
As I see it, the demand of STEEM and SBD is huge right now (loads of people accumulating at low prices I guess), and that excess of demand is what drives the SBD into that values. Do you think that once the platform matures (over months/years, talking long-term) the SBD will go down again into the 0,9-1,1$ range?
Regards mate :)
if SBD will be pegged at 1 USD, won't it be a good idea to convert SBD to SP then???
Frankly I would love some stability at SBD and Steem price, so we know what is happening with our investment. I am currently investing 150 euros per month in SBD. Should I change in investing in Steem, so in SP??
I just voted you as a witness since you see the important role of sbd in the platform, My opinion was perfectly fit of what you see about sbd issue,
I am hoping, that those witness who want a drastic and forcing sbd to $1 see it too as what you see already
Voted with confidence for you as a witness as I find your input to the community second to none
Hey @therealwolf,
Sorry it's not related to this post.. I read somewhere about you that after you found steemit you started learning javascript and started developing projects for steem... I myself look a million opportunities on steem and EOS and looking forward to learn javascript ... just need someone to guide ... could you help me or guide me where should I start from ... what things are important and I should focus ... are there any projects going on where I could a fast hand experience working in them ... after learning the basic .Thankyou
Hey @tanishqyeverma,
I've learned much of it through trial and error and watching tutorials - for example funfunfunction on youtube. Good luck :)
I like your comment.
the problem with pegging would be the transition to it - the value of peoples holdings will be cut. by 70%.
Granted people can move to STEEM, but if they don't already when such an announcement is made it'll crash the price down regardless.
The whole SBD thing is weird in my opinion. everything on Steemit says it's the value of 1 $USD, and all the calculations on the wallet, and even the conversion, seems to work it in that way. They should at least update the front end to reflect today's reality.
You just got my vote as a witness. Best of luck.
Exactly what I was looking for!
Upvoted, resteemed and following!
I wonder who you think you're cheating with this. :P
meh busted
You act as if it had been hard. Your comment looks so spammy and generic that I'm sure most saw it for what it was.
life is hard my friend, don't bother. It was just a try out. I'm still a noob here and found out this doesn't work out.
I keep following you though. Keep up the good work!
:) Life is hard indeed, and it's full of lessons to learn. Be serious about your comments and your interactions and you'll see that your experience will improve.
I'm not bullshitting you. It was just like that with me. Steemit is about the friends you make, who will help you along the way to find the paths to success. Just don't try to fool the system, it can be seen from miles away.
Good job