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RE: SBD is broken, why not just remove it?
Where is the evidence of this happening? I've hoped for this, too, but now I see it's only wishful thinking.
Where is the evidence of this happening? I've hoped for this, too, but now I see it's only wishful thinking.
well, everything on Steemit is wishful thinking. But who says wishes can't come true?
I thought that they would inflate the SBD to lower the price but it has become a debatable topic rather than sticking to their pledge o it holding.
Im not sure how it all works, not a math wizard. but i do hope it finds stability. I even said in a comment on Tim's post referenced here "why not peg it at $2us?" it just needs stability, any value is ok. It will help people use steem to market what ever they are selling.
By wishful thinking I'm talking about daydreaming. It's different from actual goals that are worked on.
The Steem community should decide if well-functioning SBD is just a dream or a real goal. If it's a real goal, people should be working to achieve that. Currently nobody is.
If it's just a dream, it doesn't matter if it's on the blockchain or not. It's still just a dream.
It doesn't matter what the pegging value is. If markets are willing to pay 100 % more, the price will still go up even if the pegging value is raised.
Stability can be only achieved by mechanism which guarantees that there is enough supply to satisfy the demand. And if there is too much supply, the mechanism has to be able to lower it until the peg holds again. It works like a thermostat that maintains certain temperature – when it's too cold, it warms, when it's too warm, it cools.
Of course it's a mechanism that keeps it on par. I do agree with free markets and let the people decide somethings value. They said back in the day, it would be controlled through inflation. If it gets too to high in price they will flood our rewards with more in hopes it brings down the price. If its too low, they will throttle back.
But i'm not sure why they are not doing this or why it is not working if they are.