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RE: Steem Dollar Stability Enhancements
Steemdollar stability would be sweet!
However, after seeing nubits crap the bed so to speak on it's peg I'm not sure how you guys tend to solidify the SBD peg. Good luck! I think phasing out the SBD and SP output of authors content may scare some folks away
I know even myself as an "early adopter" have found the changes in the beta build up to be a wee bit odd.
Hopefully we can address the Steemdollar as a community and try and find a method to pegging it properly..
That being said.. Who is going to be the whale in charge of trying to keep the liquidity / peg active?
Although he took some flak for it, Dan originally called nubits a ponzi scheme, and he was right. The peg in nubits didnt break until bitcoin had a big rally (it was not that big from a historical perspective) and they didnt have enough bitcoin to cover the amount of nubits being redeemed at higher prices. I was frankly amazed that the peg broke after only about an 80% price rise over a few weeks. I thought they had something like 7 layers of protection in place.
Anyway, the unfortunate reality for a non-native pegged asset is that some type of safety net has to be in place at the expense of all users, either through dilution or a bail-in of some sort. Otherwise, the system can break under certain conditions.