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RE: SBD Explained
No, you are correct. As I mentioned in the post, there is little that can be done to hold the peg from going higher, unless additional mechanisms (such as reverse conversions) were to be implemented.
Thanks for the feedback @timcliff; yours and @smooth's replies helped clarify a bit further. One of my hopes is that an economy of sorts will eventually develop here, where people trade goods and services using Steem/SBD. If the fluctuations are too crazy, that's tricky to execute.
Check out: https://steemeconomy.com/
=)
Ah yes, I saw your announcement about it the other day, and that was an exciting development. I can't help but think that an "economic base" will also help the value of Steem grow.