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RE: The @sbdpotato beneficiary experiment

in OCD5 years ago

Please, elaborate that. How is an sbd increase in price be beneficial for the platform as a whole

A stable value coin has clear value as I explained elsewhere. This is why SBD is used in SPS, because of real world experience trying to run budgets with volatile tokens. It doesn't work. SBD is a clear advantage and a clear value add.

Again, and again, since I don't know how this is so hard to understand: to increase the price, increase the value. Create projects that make sbd demand be real.

This is circular. More utility and more usage comes from having it maintain a value. It it doesn't already have and maintain a stable value, then it is useless to any project.

No one is going to create a project to create value for SBD in order to restore or strengthen the peg. It has to happen in the other order.

Indeed. Just add 65k more and create a huge buy order at 1 usd price. Easy.
Burn the sbd bought both ways, there.... You reduced around 10% of the supply

That isn't even close to 10% of the supply. Your math is goofy.

it's just a pump n dump style of market manipulationne example.

Stable value tokens have their value 'manipulated' by design. In every case it is with some combination of algorithmic agents as well as people responding to incentives. That's what is happening here.

The real problem is that it took so long for anyone to do something, allowing the problem to fester and grow in magnitude (so not it is not so easy to fix, but will take time).

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