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RE: Should We Keep SBD or Remove It?
Getting rid of sbd is like sawing off the roof of a car on a sunny day because it is not raining.
Getting rid of sbd is like sawing off the roof of a car on a sunny day because it is not raining.
Nope SBD is just unnecessary financial burden that make steem price fall. It's systematic bleeding. Since there are natural default risk, ppl trade 1SBD about 0.9x , 0.8x dollar. To anchor to 1USD, Steem network constantly print steem to pay that cost. This is very stupid. Frankly, I don't understand why ppl can't see it. These C++ developers love their gadget and invention. So they just want to keep their shiny, brilliant toy. Even it is stupid invention in terms of business. At least we should take fee from SBD transfer and stop SBD interest scheme. Or just get rid of SBD completely. It's very expensive financial vehicle that cause serious burden on Steem.
I thought the same and posted about it (https://steemit.com/ned/@mark-waser/the-steem-backed-dollar-sbd-having-your-cake-and-eating-it-too). Then Smooth pointed out that SBD was less than 5% of the market cap. MY new conclusion is that SBD is NOT that expensive.
No sbd does not make steem price fall. It does increase risk hut that is limited to 10% of market cap. But there are other reasons why the price is falling.
Sbd is the only currency on the steem blockchain and getting rid of it hurts the eco system.
Most people in crypto do not understand economics or what money is and why it is valuable for an ecosystem.
It is utterly nessesary to have a stable currency to do any economic activity and if we remove sbd from steem we prevent many applications from being possible.
I am not arguing removing the roof, instead folding the roof when it is not raining.