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RE: Why Implementing A Two-Way Conversion SBD Hard Peg Makes Zero Sense
so can't you just rolling inflate the actual supply?
say someone has 283 steem backed dollars in their account which equals 1698 usd (x6) so can't we just one-time-print and dump 1415 sbd into that account?
it would push it down to 1 dollar per SBD, but at the cost of short term burning people who didn't know this was about to happen and put in orders for SBD at x6 rates
or do you believe this is something that will iron itself out?
I don't know if it will iron itself out in the future, but I don't see a good reason for us to be ironing it out ourselves forcefully keeping in mind the chance of disastrous consequences.
The Steem blockchain is a bit like a bank. Most of the Steem is locked up in Steem Power but if we introduce instability and turmoil, if enough people start powering down, the whole thing could easily go crashing down. And if we introduce enough instability and uncertainly by making huge changes to the rules, that is not an unlikely scenario.