RE: Making It Work: The Steem Ecosystem. "THINKING OUT OF THE BOX"! (Part Two)
This would at least allow for the price to be fixed at 1usd worth of steem at all times. It would basically become a piece of code with which any user holding 1usd worth could, at any time, create 1 usd of new steem and put it into their own account or into the account / control of anyone other user. (this is basically what we have now, accept the value is set by the market). This would stop the value over inflating as happened last year, resulting in a lot more inflation than expected (as far as i know). to understand the true benefits of this, you need to look into why the SBD price was allowed to be set by a market mechanism, and was not fixed and kept within the platform. Do you know the answer to this already? (I don't, and am occupied doing too many other things to find out at the moment.) am interested to follow this idea however
Once a cryptocurrency as such is owned by a trading platform, that trading platform can put it on its market.
No stopping it.
However, after poking around, these trading platforms have rigid rules, regulations all bound by even more rigid LAWS restricting them to the trading of certain things.
i.e., they can't go and trade chickens, TV's or other things that are not clearly defined as cryptocurrency (tokens/coins).
So SBD as a cryptocurrency can never be pegged to anything, as is the case with any cryptocurrency out there.
It is all dependent on the market.
While in house coupons, loyalty points etc are restricted to the blockchain and the code and can not be listed on cryptocurrency exchange platforms as such.
& why would they, even if they could, when at all times one loyalty reward point can be exchanged for $1 worth of Steem at any given time, via the internal exchange, in which the points would e burned and hence make the dream come to life, as was imagined.
exactly. Interested to find out why the SBD was floated as an exchangeable token, and not a points system pegged to the usd within the protocol of the blockchain.
From what I have seen to date:
People in the cryptosphere don't want to adapt to the needs of the fiat markets.
&
People who are still stuck on fiat can't comprehend crypto.
Hence we are where we are, two systems running parallel to each other instead of intermingling.
Jack you are brilliant