We should never get rid of SBD for so many reasons
But I only want to talk about one. Hedging, Nothing is faster for me than dumping 840 Steem for 128 SBD in the internal market just in-case a renewed Bitcoin bull run forces Steem temporarily down. I am still bullish on Steem but being able to hedge my bet instantly at any time gives me a peace of mind unmatched in any other coin... I am really still invested in Steem while holding SBD but it gives me a way to quickly short a small percent of my holdings and turn downtrends and dips in to half off sales , increasing my Steem while preserving and later increasing the overall value of my account.
Yeah - the trick is to keep the money in the STEEM ecosystem. Those people calling for the end of SBDs apparently do not think that keeping money in the system is a good idea. Perhaps they'd be willing to better explain that position.
What are the top three reasons why people want to get rid of SBDs?
Lost most of my btc by jolding long on steem and sbd... btc is on a bull run and im out of btc
Are you holding on to those SBDs in hope steem goes lower?
Dumped most of it, but still holding to some just incase
uninformed, uninformed , uninformed, shortsightedness, gaffe.
In principle you can do the same with tether and bitcoin. Its great having that function integrated in steemit.
Yes Steemit imho is beating Bitcoin on every level except marketcap and adoption.
Anyone .
Juts saying :)
well you see the thing is...steem backed dollars are not controlled by a 3rd party the way tether is. When you use tether you have to trust they will pay you back for that TetherUSD, CNY...etc. If we were to use tether then really what is the point of using cryptocurrency and blockchains at all?
With steembacked dollars, they are THE first Market Pegged Cryptocurrency asset to stay tightly pegged to the dollar without having to expose users to the levels of trust required for literally every single competitor.
Sure some brilliant people might copy it in the future but even if they do, Steem is now one of the first movers. Yeh Matrix we could go on for hours about why not to kill the literal unicorn here...
:P
@fuzzyvest Check out this simple Growth Hack for Steemit
https://steemit.com/steemit/@homosapiens/growth-hacking-for-steemit-how-we-can-reach-millions-with-simple-trick
good for you matrix
Steem is a win
YES :)
Funnily enough I think that illustrates exactly what the SBD detractors are fearful of. SDB creates a debt that must be paid for in Steem. Correct me if I'm wrong. I'm still wrapping my head around the economics of it all.
Upvoted and shared on twitter. Stephen
https://twitter.com/StephenPKendal/status/813846764998578176
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Who are the people that want to get rid of SBD, and can you point me to their post?