Caution: this is my perspective view out of my limited knowledge about certain topic being discuss

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Hello Steemians, let's talk about how Steem Dollars Play success with Steem! Lot of people think that sbd has nothing to do with steem price, Lot also wanted the sbd to be back to $1 as it was stated in the whitepaper.

Should SBD Be a Pegged Asset? If So, When Should We Peg It? by lukestokes

Here, lukestoke is a witness of steem blockchain talking about SBD, and some of his point view that I am not with.

The purpose of steem dollars.

Steem Dollars (SBD)

Stability is an important feature of successful global economies. Without stability, individuals across the world could not have low cognitive costs while engaging in commerce and savings. Because stability is an important feature of successful economies, Steem Dollars were designed as an attempt to bring stability to the world of cryptocurrency and to the individuals who use the Steem network.

Steem Dollars are created by a mechanism similar to convertible notes, which are often used to fund startups. In the startup world, convertible notes are short-term debt instruments that can be converted to ownership at a rate determined in the future, typically during a future funding round. A blockchain based token can be viewed as ownership in the community whereas a convertible note can be viewed as a debt denominated in any other commodity or currency. The terms of the convertible note allow the holder to convert to the backing token with a minimum notice at the fair market price of the token. Creating token-convertible-dollars enables blockchains to grow their network effect while maximizing the return for token holders.

lukestokes said "In my reading, the white paper seems to imply speculators buying up SBD above $1 could be considered market manipulation. In the past, when this has happened, it's been relatively short lived and the peg eventually finds itself again".

I want to emphasized this line "and the peg eventually finds itself again". this is the fact that SBD fail to be 1:1 ratio to usd even before at the start of it's implementation.

In traders view, You cannot pegged an asset 1:1 once it is in the market. The market players tells what the value should a coin have. If we want a clearly 1:1 asset, then it should not be decentralized anymore. We will put sbd to only one exchanger that will echange 1 sbd to 1 usd. The problem with that is SBD was not pair to usd but to bitcoin yet we claim to 1:1 ratio. This really fail in this view.

In the begining, SBD was created for the success of STEEM

I must be saying this directly. SBD plays an important role of success of steem, Coz if not, why create SBD?

When steem fails it's value to a cents, SBD was used to play for stability as they say.

Market manipulation or Massive adaption?

Either this two way played the market role in terms of price of a coin, Biggest thanks to Korean people who Massively adapt the steemit and makes the price of steem/sbd stronger than ever before.

Lots of steemians think that 1 steem could reach $100 each yet they want sbd Stay at $1. I think you are just out of view, like you wanted your backed up 1000 meters away distance far from you as you think you are successful. You may think I am wrong but is it that way?

I want you to give example why steem fails to skyrocket than sbd.

• 247,485,816 STEEM circulated in the market and I think this does not add the current steem power we hold or either way.
• 7,228,674 SBD only compared to steem,

7 millions sbd is just a tip of 247 millions of steem. In traders view, SBD became a sugar coated in the market. Accept that or not, You can't leave behind SBD in terms of steem success.

lukestoke also added "The main question we should be asking, IMO, is do we think a two-way conversion is a risk? If it's not a risk, and the white paper is wrong, then we can move forward with the idea of making a possible change. If it is a risk, we can stop here, and we're done."

IMO, A two way conversion pose a risk. I'm done!

STEEM fails to surge when sbd is at $1

Lets get a quick research what happend last July 14, 2017

• July 14, STEEM reach $4.31 but continue to go downwards
• July 14, SBD has a value $0.93 and the rest is history.

Steem continue to drops its value and reach $0.90 in October and November. Even SBD drops below $0.80

Now, AS the start of December, Nobody thinks sbd will be pump, Everybody is selling their sbd as it rises to $3 each, The next day It reaches $5 and few only selling sbd WHY? NOBODY is holding lots of sbd. Lots of witness tell that sold your sbd coz it will go back to $1 as it was pegged asset but i say they fail. SBD continue to rise until now and it won't go back to $1. It's almost 2 months Sbd holding strong even the very dip of bitcoin.

The Rise of sbd and the scarcity of steem

A lot of steemians suddenly noticed that they receive 4 sbd with 0.9 steem power only. And yes, The high price of sbd makes the scarcity of steem power you may recieved.

I am not an sbd SPECULATORS since I don't have SBD, but this was an opportunity to buy more steem and power up through sbd's earnings.

• Take note, This is my own observation and serves for entertainment, be wary in your decision.

My conclusion, You can't make $100 each of STEEM leaving SBD to $1, It does not tell what the current market value of steem/sbd.

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