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RE: Speculation killed the STEEM DOLLAR Utility
I agree that there is no issue - but your logic is fatally flawed - your argument only works if STEEM was pegged to one dollar.
SBD is currently worth about $8 worth of STEEM, not about $1 ...
Sorry I shouldn't smoke and think too much. :P Just realized how what I said was dumb.
But either way. I don't see how they can expect to keep a currency pegged to a dollar without centralizing the creation of it and by allowing it to be traded on external exchanges. If they didn't allow it to be traded somehow then perhaps the peg could've stuck. Otherwise the supply would have to be manipulated by someone.
Yeah the problem is, unlike most coins ... SBD actually has intrinsic value - it is always worth at least $1 USD ... IMO some whale saw that flaw on the asset and the limited supply as an attractive investment!