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RE: If You Want To Push Steem Dollar Down To Parity With The US-Dollar, You Need Helicopter SBDs!
The main point I agree with is that it causes confusion, although it currently is benefiting most users - even if they don’t understand it. Anyone who receives an author payout right now is getting about 5x the amount of rewards that they would receive if we just eliminated SBD and paid authors in STEEM instead of SBD.
SBD is not a fiat currency. I disagree with this interpretation. STEEM tokens are created out of thin air too, as are BTC, ETH, and most other crypto currencies.
I do not see the argument for the actual harm that is being caused by keeping SBD. I am not entirely opposed to removing it, but someone will need to make a compelling case for the actual harm that is being caused by keeping it around. So far, I don’t see it.
I strongly disagree. If you also count all users of Steem and SBD outside of Steemit, you harm them a lot. For them it's a fools game they cannot win.
That is only true nominally.
That is splitting hairs. It's about how something is handled and by which rules new money is created and how out of the ordinary events are handled. By these standards, SBD is a bit like the Venezuelan Peso and Steem is like paper gold. Both not perfect, but one very much closer to fiat than the other.
Well, trust is the main argument against it. There is no security, no system and no competence behind the behavior of SBD. You won't be able to keep your promises if there is an exogenous shock.
Question: Who made the decision to trade SBD outside of Steemit? When was this decision made and why? Would be great if you had a link for that.
It is a speculative asset, which goes up and down based on supply and demand. It still functions according to the rules of the blockchain that are defined in the whitepaper.
The amount of new tokens that are generated (inflation) is working 100% according to the blockchain rules. The value associated with those tokens is what is fluctuating - which again is in line with other crypto currency tokens.
What promises? How does it compare to a coin like Litecoin (LTC)? In my mind they are very similar in the context we are discussing.
AFAIK, it has been that way since day 1 when both STEEM and SBD were listed on exchanges.