Why not just invest in STEEM? Why do we need two speculative tokens in both SBD and STEEM?
Do you see long-term value in having a built-in stable token within the STEEM ecosystem? The blockchain will just keep printing SBD until this correction happens to bring SBD closer to $1 USD.
I know the witnesses were talking about slowly bringing sbd price down and pegging it to $1, has there been any action on this idea?
I do see long term value in a stable coin for the steem ecosystem, but as long as there are incentives to speculate, people will speculate. If we want a stable token it would be best for the witnesses to come to consensus, announce the change, and make the change on the next hardfork hopefully before the next price rocket.
There is almost unanimous consensus between the top 20 witnesses but, at the same time, we recognize many do not want to see their inflated author rewards to go away. For the most part, it seems witnesses are not willing to implement a reverse conversion unless the price drops closer to $1. We don't want to be the "bad guys" who turned off the SBD faucet, even if we're thinking about the long-term benefits of the entire ecosystem (including increases author rewards due to increased value of STEEM and the resulting rewards pool). At this point, unless more people demand action from the witnesses, I don't know that much will be done.
I wouldn't be surprised if even if the witnesses try and suppress SBD to $1; it won't behave accordingly. Why? Sentiment drives the price....not the Witnesses.
Sentiment is great, but it can not effectively work against smart contract protocols. If a reverse conversion was implemented, SBD would be printed in an arbitrage fashion to keep the peg. I can't imagine any amount of sentiment changing that.
I find the whitepaper's argument inadequate. It may have been true during the launch, but with the liquidity we have in STEEM now, I don't think it's a valid concern, personally.
But yes, I agree with you, the $1 is so broken as to be just make believe (unless it goes below $1).
I'm surprised there is not yet a competing site like Steemit. Competition will drive it higher. Yes, it'll certainly be one of the leaders. Price of $2k by 2020? Perhaps triple digits.
and I unfortunately start to reduce power: (((
because for a long time I do not see progress in the development of the product ....
as well as the problem with Dan: (((
Steemit is one of the few alcoins that has a product currently in use. I think it is under its value, like the other alcoins, but when the bitcoins rise and stabilize the other alcoins will give a good upward momentum including SBD.
I contribute analysis and graph in exchange I hope comments
If we project a cycle of 5 waves taking, projecting wave 2 until a retreat that touches the triangle again to gain bullish momentum in the volume.
Based on these data we can project wave 3 up to 161% fibonacci, with a wave 5 to 261% fibonacci, values that generally reach the alcoins.
This would lead us as a final goal to approximately 12 dollars in a medium term.
I want to use this Steem channel to contribute ideas and debate them among all, but it seems to be only a one-way channel if the ideas and contributions of others are not supported by the votes.
Giving your vote costs nothing and helps others grow.
Steem Dollar is holding steady, but it's susceptible to the price of BTC.
Why not just invest in STEEM? Why do we need two speculative tokens in both SBD and STEEM?
Do you see long-term value in having a built-in stable token within the STEEM ecosystem? The blockchain will just keep printing SBD until this correction happens to bring SBD closer to $1 USD.
I know the witnesses were talking about slowly bringing sbd price down and pegging it to $1, has there been any action on this idea?
I do see long term value in a stable coin for the steem ecosystem, but as long as there are incentives to speculate, people will speculate. If we want a stable token it would be best for the witnesses to come to consensus, announce the change, and make the change on the next hardfork hopefully before the next price rocket.
There is almost unanimous consensus between the top 20 witnesses but, at the same time, we recognize many do not want to see their inflated author rewards to go away. For the most part, it seems witnesses are not willing to implement a reverse conversion unless the price drops closer to $1. We don't want to be the "bad guys" who turned off the SBD faucet, even if we're thinking about the long-term benefits of the entire ecosystem (including increases author rewards due to increased value of STEEM and the resulting rewards pool). At this point, unless more people demand action from the witnesses, I don't know that much will be done.
In that case unless bitcoin and everything else takes another dive to a lower low, the days of sbd being anywhere near $1 are probably over.
I wouldn't be surprised if even if the witnesses try and suppress SBD to $1; it won't behave accordingly. Why? Sentiment drives the price....not the Witnesses.
Has sentiment driven the price below $1 USD?
Sentiment is great, but it can not effectively work against smart contract protocols. If a reverse conversion was implemented, SBD would be printed in an arbitrage fashion to keep the peg. I can't imagine any amount of sentiment changing that.
The whitepaper talks about why there was no reverse conversion. The $1 peg is nothing but make believe at this point...
I find the whitepaper's argument inadequate. It may have been true during the launch, but with the liquidity we have in STEEM now, I don't think it's a valid concern, personally.
But yes, I agree with you, the $1 is so broken as to be just make believe (unless it goes below $1).
FACT: The eye makes movements 50 times every second.
Do you think Steem will be the Leader of the Cryptocurrencies in 2020?
Will be worth 2000$ ?
It sure will. So it's better to get as much steem now than regret it later.
check EOS....
can happen something like that
https://steemit.com/@egarmaulana
:)
I'm surprised there is not yet a competing site like Steemit. Competition will drive it higher. Yes, it'll certainly be one of the leaders. Price of $2k by 2020? Perhaps triple digits.
and I unfortunately start to reduce power: (((
because for a long time I do not see progress in the development of the product ....
as well as the problem with Dan: (((
Steemit is one of the few alcoins that has a product currently in use. I think it is under its value, like the other alcoins, but when the bitcoins rise and stabilize the other alcoins will give a good upward momentum including SBD.
FACT: An ant’s sense of smell is stronger than a dog’s.
QWERTY more lines & A B C D 1 2 3 4 pay me $300 Steemit UPVOTE
Your REWARD POOL RAPE Will NOT Be TOLERATED!!! #FlagTheDonkey #FlagAWhale
@haejin thanks, this answers a lot of questions I had
your post is very good and useful, how can make a post like you ?.
yes thank very good nice follow you blog and vote.
I contribute analysis and graph in exchange I hope comments
If we project a cycle of 5 waves taking, projecting wave 2 until a retreat that touches the triangle again to gain bullish momentum in the volume.
Based on these data we can project wave 3 up to 161% fibonacci, with a wave 5 to 261% fibonacci, values that generally reach the alcoins.
This would lead us as a final goal to approximately 12 dollars in a medium term.
I want to use this Steem channel to contribute ideas and debate them among all, but it seems to be only a one-way channel if the ideas and contributions of others are not supported by the votes.
Giving your vote costs nothing and helps others grow.
thanks for update steem dollears SBD
Buen vídeo, muy informativo tu post.
Thank you for this information,I will always be waiting information from you, as you better understand about this.
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