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RE: ICN Launch a Steem Dollar Opportunity?
The pegging mechanism is completely broken. SBD hasn't been stable for months now. I think we should just remove it from the blockchain. If that's not going to happen, the next best solution is to fix it. But something has to be done, and soon, because it's just stupid to keep broken features on the blockchain.
Thanks for the comment. I agree we should fix it needs to be fixed but I think this happens through
Remember the fed and Ecb didn't want negative rates for thier bonds either. Sometimes it's hard to fix.
Sbd is a safe asset in the cryptosphere with no counterparty risk that is backed by a growing blog platform and pays interest! That's worth more than par especially when all cryptos are down 30 percent in a day.
But should we be in that market? It's a common mistake for startup companies to do anything that gets a little bit of traction. I think it would be better to focus on our core product and not waste resources to serve cryptocurrency speculators.
Very good point. I think we leave most of this to others(apple doesn't care who holds their debt) but one thing we can do is increase the supply.
Increasing supply will let the steem price rise faster as we lever up. A stable steem dollar would also be nice for those that want to temporarily store posting rewards on the platform. Finally it's nice to have post values in dollars and sbd allows us to do that. I think we should do a few basic things to fix liquidity by increasing supply, ease arbitrage through information, and let some other stamina put sbd on icn. Then as a platform we drive price and hold down steem supply.