When SBD is worth more than $1.00 it acts as an amplifier for post rewards, making them much larger than normal. This is great for getting new users on the platform and the side of effect of encouraging spam.
My take on SBD is that it distorts how much liquid rewards are paid out on each post rather than amplifying post rewards.
I think this is detrimental at a fundamental level as it just encourages people to cash out their stake rather than locking it up a portion of earnings for some period of time and actually having stake in the platform to incentivise behaviour.
Back to the question do we need SBD or does it just complicate the Steem Ecosystem?
If we can first agree it is a good idea to have a stable asset, then we can discuss how to make it work, but without first agreeing on this premise we just keep going around in circles.
For the record I think a stable asset is a great idea if we ever hope to attract large numbers of people to the platform.
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Great point, so many people here get hooked on making money and forget this.
The promise of Steem in the beginning was an alternative to the advertising fueled model for social media (as well as a censorship resistant medium). But if people wish to cash out, the fiat money has to come from somewhere and without some form of commerce or utility that only leaves speculation.
For that reason I think it's vital we have an feature to support commerce on the platform. The single most important feature I think is a "stable" asset such as SBD.
Where we can achieve a stable asset or not is an entirely different question.
yet SBD is currently not stable...
Nothing in this existence is "stable" lol
@metama Do you really think SBD fall down even more?
It's definitely possible. If btc drops more, steem most likely will and and will follow
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@metama Thanks for your best opinion