I believe if the price of SBD didn't spike, you'd see only a fraction of the growth we've seen this year.
Possibly, it's surprising to me how slowly the platform is growing really.
Although the worst thing that could happen IMO is for Steemit to get a deluge of dross from Fakebook & Twatter.
What Steemit needs are the best bloggers, writers, artists, musicians etc. I have no doubt that in time there will be many blockchain social media platforms, my hope it that Steemit is seen as the 'Gold Standard' when it comes to blockchain social media. Everyone is welcome to join but the idiots, shills and spammers that pervade the other platforms eventually give up due to lack of traction and go back to where they do get an audience.
Haha, this is entertaining and true - funny because I was criticised as being accusatory and uncaring because I don't think there's room for spam here... it's important that if someone's not contributing, to get them on track - and if they refuse, chase 'em out with flags or mutes. ☺
Not everyone can create worthwhile blogs, but I'm convinced there are very few who can't make worthwhile comments. It really doesn't take that much. It's not an issue of inability in the majority of cases, it's simple refusal to make the effort.
From my experience, the high SBD prices have been a huge encouragement and help me absorb the posts that can be overlooked - or putting in massive time on a post. I do think that a drop would be like a parasite cleanse.
It's important not to point fingers or shake fists in this debate, but it's a tough one! :D
Not everyone can create worthwhile blogs, but I'm convinced there are very few who can't make worthwhile comments.
I completely agree, for those who have never blogged like me before coming here commenting is a good way to see what's what. To learn the ropes, get advice and learn about what YOU want to write about. My earliest stuff was shit I have no problem admitting that, it was watching what the experienced bloggers were doing that turned the corner for me, that and Discord/MSP which is what makes this place so unique, the kindness and support given to those who need it when they need it.
How lucky are we!? What a truly great place this is.
Yup. My first posts were horrendous — totally embarrassing... I'll put it this way. If I ran into someone who posted like I used to post, I'd probably mute them and consider flagging them as well!
Yes my posts are shit at the moment or worse. Reading all of your guy’s stuff has been helping. This comment gives me hope that eventually I’ll find that topic niche that I thrive in.
Trying to force SBD to $1 is market manipulation...
People will lose trust in the platform entirely if interference forces the value down. You know, the only reason SBD is high value is because people buy SBD, so any changes made to lower SBD value is a direct attack on people investing into the platform.
The soft peg we have now is good enough.
I would like to know who is discussing this steem suicide idea so I can give them a hotline number.
It's all most 70% of witnessess who are thinking about it. They want to use SBD directly for buying stuff instead of US dollar. For this they want a stable currency which is always equal to 1 US dollar.
What i personally think is that they are trying to think beyond the limits of crypto. bitcoin tried to be a currency for buying stuff in market, but failing miserably since all last 8 years.
What I say is: Thanks to the speculators for the higher payouts to the authors. :-) In my opinion people speculate on SBD because of its low marketcap and people don't really know what SBD is. People have also take into account that inflation of the SBD rises with its price. And inflation then causes downward pressure.
Here I have a chart where you see the price of SBD versus the inflation:
The high price of SBDs has sparked a grassroots growth of the platform.
Is that a falsifiable claim or an opinion? If it's based on hard data instead of subjective perception, can you supply some data to ensure we don't fall into the correlation is not causation trap? Some argue the rise in STEEM was the real driver of adoption because that impacts the entire rewards pool, not just the SBD portion of it.
I believe if the price of SBD didn't spike, you'd see only a fraction of the growth we've seen this year.
Okay. How did you come about that belief? What data would you use to convince others of that belief?
I’m not sure why they want to kill what is the best possible growth acceleration asset right now.
That, again, makes a pretty strong claim. What if a stable pegged asset is actually a huge potential avenue for growth (along with an increase in STEEM price to convert into that stable asset)? USDT seems to enjoy quite a bit of use right now. I sure wouldn't mind the STEEM ecosystem taking some of that market.
The argument that SBD is far too small with far too few tokens in distribution at this time is a good one. It's possible any attempts to stabilize this coin could have unintended consequences. It's also possible it could jumpstart more SBD into existence as people convert STEEM to SBD, if that were an option. To me, that argument is more about when this should be done and less about if it should be done. If we could have a stable asset in SBD and a speculative asset in STEEM (which has a larger impact on the total rewards pool), that sounds like the best of both worlds to me.
I'm working on a full post with my thoughts on this.
I agree with @aggroed in the fact that we shouldn’t rush to disrupt SBDs rise to hyper inflation!
Giving minnows like myself the ability to really earn from the few $ we might get is huge because it gives us the tools to build our portfolio and take part in the gold rush of our age!
Also I love the sketch haha I’m pretty sure dolphins are my favorite mammal at this point so I’m a little bit sad he’s in danger tho 😂
Hi @Overkillcoin, to say the truth, I care less about the arguments on sbd. I am actually awed by the art. The sketch. It's beautiful and metaphoric. Don't mind my using this word, I am more or less a fiction writer.
@exyle made a good video about it. And even though I'm new, it makes total sense what he's saying! Keep the price as is, and as more STEEM is generated, the value of SBD will actually naturally go down, so pegging it to $1 won't be disruptive... but I'm still new to all this... so who knows? I just like the current exchange rate - who doesn't?
Possibly, it's surprising to me how slowly the platform is growing really.
Although the worst thing that could happen IMO is for Steemit to get a deluge of dross from Fakebook & Twatter.
What Steemit needs are the best bloggers, writers, artists, musicians etc. I have no doubt that in time there will be many blockchain social media platforms, my hope it that Steemit is seen as the 'Gold Standard' when it comes to blockchain social media. Everyone is welcome to join but the idiots, shills and spammers that pervade the other platforms eventually give up due to lack of traction and go back to where they do get an audience.
Haha, this is entertaining and true - funny because I was criticised as being accusatory and uncaring because I don't think there's room for spam here... it's important that if someone's not contributing, to get them on track - and if they refuse, chase 'em out with flags or mutes. ☺
Not everyone can create worthwhile blogs, but I'm convinced there are very few who can't make worthwhile comments. It really doesn't take that much. It's not an issue of inability in the majority of cases, it's simple refusal to make the effort.
From my experience, the high SBD prices have been a huge encouragement and help me absorb the posts that can be overlooked - or putting in massive time on a post. I do think that a drop would be like a parasite cleanse.
It's important not to point fingers or shake fists in this debate, but it's a tough one! :D
I completely agree, for those who have never blogged like me before coming here commenting is a good way to see what's what. To learn the ropes, get advice and learn about what YOU want to write about. My earliest stuff was shit I have no problem admitting that, it was watching what the experienced bloggers were doing that turned the corner for me, that and Discord/MSP which is what makes this place so unique, the kindness and support given to those who need it when they need it.
How lucky are we!? What a truly great place this is.
Yup. My first posts were horrendous — totally embarrassing... I'll put it this way. If I ran into someone who posted like I used to post, I'd probably mute them and consider flagging them as well!
Yes my posts are shit at the moment or worse. Reading all of your guy’s stuff has been helping. This comment gives me hope that eventually I’ll find that topic niche that I thrive in.
Trying to force SBD to $1 is market manipulation...
People will lose trust in the platform entirely if interference forces the value down. You know, the only reason SBD is high value is because people buy SBD, so any changes made to lower SBD value is a direct attack on people investing into the platform.
The soft peg we have now is good enough.
I would like to know who is discussing this steem suicide idea so I can give them a hotline number.
Its not market manipulation if SBD goes back to $1. Its a self-regulation of SBD. Here is how the regulation works: https://steemit.com/steem/@sevenseals/why-the-steem-dollar-sbd-will-fall-back-to-1-us-dollar-the-self-regulation-of-the-sbd
It's all most 70% of witnessess who are thinking about it. They want to use SBD directly for buying stuff instead of US dollar. For this they want a stable currency which is always equal to 1 US dollar.
What i personally think is that they are trying to think beyond the limits of crypto. bitcoin tried to be a currency for buying stuff in market, but failing miserably since all last 8 years.
What I say is: Thanks to the speculators for the higher payouts to the authors. :-) In my opinion people speculate on SBD because of its low marketcap and people don't really know what SBD is. People have also take into account that inflation of the SBD rises with its price. And inflation then causes downward pressure.
Here I have a chart where you see the price of SBD versus the inflation:
Its from my weekly steem statistics. https://steemit.com/steem/@sevenseals/steem-statistic-charts-week-03
They are "speculatortactular"!
Is that a falsifiable claim or an opinion? If it's based on hard data instead of subjective perception, can you supply some data to ensure we don't fall into the correlation is not causation trap? Some argue the rise in STEEM was the real driver of adoption because that impacts the entire rewards pool, not just the SBD portion of it.
Okay. How did you come about that belief? What data would you use to convince others of that belief?
That, again, makes a pretty strong claim. What if a stable pegged asset is actually a huge potential avenue for growth (along with an increase in STEEM price to convert into that stable asset)? USDT seems to enjoy quite a bit of use right now. I sure wouldn't mind the STEEM ecosystem taking some of that market.
The argument that SBD is far too small with far too few tokens in distribution at this time is a good one. It's possible any attempts to stabilize this coin could have unintended consequences. It's also possible it could jumpstart more SBD into existence as people convert STEEM to SBD, if that were an option. To me, that argument is more about when this should be done and less about if it should be done. If we could have a stable asset in SBD and a speculative asset in STEEM (which has a larger impact on the total rewards pool), that sounds like the best of both worlds to me.
I'm working on a full post with my thoughts on this.
Well @lukestokes, I'll gladly read it. I'm very opinionated, but maybe not as close-minded as I may seem to be.
Here's my post. Sorry. It's long. I did it in video format also and it's over 21 minutes long.
Should SBD Be a Pegged Asset? If So, When Should We Peg It?
Will check it out first thing in the morning - thank you!
I agree with @aggroed in the fact that we shouldn’t rush to disrupt SBDs rise to hyper inflation!
Giving minnows like myself the ability to really earn from the few $ we might get is huge because it gives us the tools to build our portfolio and take part in the gold rush of our age!
Also I love the sketch haha I’m pretty sure dolphins are my favorite mammal at this point so I’m a little bit sad he’s in danger tho 😂
I know, right? He needs a parachute. And I'd congratulate any dolphin who could fly a fish tank that high without instinctively jumping out ☺
I wonder how this will turn out and how messy the results will be... ?
Hi @Overkillcoin, to say the truth, I care less about the arguments on sbd. I am actually awed by the art. The sketch. It's beautiful and metaphoric. Don't mind my using this word, I am more or less a fiction writer.
Thanks @funmiakinpelu, I think you're among the few that commenting on the drawing itself :)
Hopefully it wasn't overly dramatic, but I wanted to capture people's concerns.
@exyle made a good video about it. And even though I'm new, it makes total sense what he's saying! Keep the price as is, and as more STEEM is generated, the value of SBD will actually naturally go down, so pegging it to $1 won't be disruptive... but I'm still new to all this... so who knows? I just like the current exchange rate - who doesn't?
I need to check that out when I get back from work
High price Sbd helps in growth or promotion of steem
It is too early if they enforce sbd to 1$.
Finally a real person shows up, these spammers were driving me crazzy!!
Best reply I read today, hahahaha
Hahaha..
It is a complicated topic actually. I am for the stable pegged SBD, but I also think that it is too early to decide or take any action at this time.
I would like to see more business being done first, the @aggroed explains it better in his article ☺
Price of Sbd does attract investors to steemit . What is max supply of Sbd ?
Not sure, I think it's around 8 million, coinmarketcap.com would know.
that's circulating supply . I heard somewhere that it's infinite .
See, you already knew the answer then! ☺☻☺☻☺☻
i didn't know it was true !