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RE: STEEM Economic Changes Update (@officialfuzzy's thoughts & concerns)
some terrible black swan Dan sees coming
Well, most obvious black swan would be collapsing of SBD price
some terrible black swan Dan sees coming
Well, most obvious black swan would be collapsing of SBD price
Agreed, though there is no sign of that happening at present that I am aware of.
We have seen it go pretty low, but it generally floats around .8-.9
SBD price floating around 0.9 is not something you can rely on to happen just naturally. I quote @smooth
from here https://steemit.com/witness-category/@smooth.witness/witness-sbd-pegging-policy-update
When I put on my "company CEO hat", facing this situation, an investor willing to pay off company debts (1.7 million SBD ) in exchange for something like "blocking minority ownership" would get a special treatment.
Maybe not, but they have effectively survived a black swan already and if we keep a solid snd happy community, we will have the trust that will not shock and scare the market.
Additionally, and most importantly, people who are building onto steem need a solid foundation. Shake it tok often and they leave. Then try backing anything with steem :/
I thank you for bringig up this valid concern.
As for the CEO hat I understand this perspective but if you risk losing your earliest and most loyal groups of people?
If you take a look at the rich list, quite some percentage of debts are in the hands of "trusted people". I have strong confidence that a black swain event won't happen in the near future, even if the price of steem token drop further.
(I agree that hurting the price of steem does increase the possibility to a black swain event.)