RE: Can I have a list of top 20 witnesses that want to bring SBD price down right now?
I really do believe the witnesses want what's best for the platform.
But if you really are looking at "reviewing papers on stable coins, debating macro economic theories" I am sure you are missing the point here completely.
There is not a single comparable situation or asset or whatever to get a good advice from. This can't be solved by looking at theories or what other stable coins do.
You need to decide, if you want a stable coin at 1$, so apps can flourish and possibly bring in new users in the future (might not work like intended), but risking loosing a lot of daily users and witness votes because the payouts will drop hard. And they will drop hard. You know it and I know it. My estimation is a decline of 70%. But nobody is telling this story yet.
OR: You just look at the current growth explosion in daily users and new accounts and have enough faith in the platform that everything is good as is.
It also depends on whether the SBD pump was done on purpose by the STEEMIT core or not. Cause I am 90% sure it was intended like this to push the price of STEEM. Genius move by the way.
I understand that apps cant flourish if there is no stable currency, but other than that, I don't see a single problem with the current developments.
Another factor is that you don't and can't control prices at exchanges. What makes you believe that the "dummies" as some have called them, will not be willing to pay a premium on the price of SBD for speculation, even if it is soft pegged at the STEEMIT platform? You can't control that either.
So many unknowns, so many risks just for the sake of apps. If so, I have to conclude fu.ck apps.
I disagree that we can't learn from other situations to inform are thinking here. We're talking about $1.6B and $50M dollars between STEEM and SBD. That's not something anyone should consider changing without some serious study.
As to the payouts dropping hard, I'm not convinced of that. I think a conversion option from STEEM to SBD when SBD is above $1 could lead to many people buying STEEM to do the conversion which could lead to higher payouts for everyone. I have seen no evidence STEEMIT core is pumping SBD, but if you have evidence of that, I'd like to see it.
You're right in that we can't control what people do on exchanges, but we can all profit from it using a conversion, if we were to implement it and educate people properly about it. That helps everyone devoted to the STEEM ecosystem, not just speculators pumping a random coin.
For me, there's a lot more than goes into it than just apps, including the market potential for a strong pegged asset while people are losing faith in Tether. I did a post today and recorded it to video which ended up being over 21 minutes long. If you really want to dive in, here it is:
Should SBD Be a Pegged Asset? If So, When Should We Peg It?
I'd love your thoughts on it.