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RE: Saving SBD - Proposal to Restore the $1 USD / $1 SBD Peg
This post is soooo relevant right about now... What is up with the SBD USD peg? How will it get fixed?
This post is soooo relevant right about now... What is up with the SBD USD peg? How will it get fixed?
There is very high demand for SBD right now, most likely to it (and STEEM) getting added to a new Korean exchange recently. I agree 100% that this post is super relevant right now! IMO, the fix is what I propose here.
Absent that, witnesses can play around with their price feeds to increase SBD production, but if they do this it harms SBD->STEEM converters. It can also end up causing additional inflation in the long-term. So based on this, I do not think it is a good solution (which is why I recommended what I put above).
Assuming this doesn't get implemented, and witnesses don't artificially increase SBD production, then we basically just have to wait for supply to catch up with demand - which may take a while. In the meantime, anyone who has SBD gets an extra bonus when they go to cash out :)
True, that bonus sure is juicy lol. I honestly think that one of the factors that is exacerbating the problems with the SBD peg is the fact that most bots request SBD for their services. I think the SBD demand can be eased if all bots accepted both Steem and SBD.