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RE: Can I have a list of top 20 witnesses that want to bring SBD price down right now?
This is exactly why most of them are not taking a clear stance on this one. They don't want to loose the votes if they admit that they want it pegged. FUD much.
Let's not jump to conclusions. Witnesses have spent many, many hours discussing this recently (sometimes late into the early morning) in an attempt to have a full understanding of the situation. Even those who some might consider "against" a pegged SBD may actually be completely for it given the right circumstances (such as SBD self-correcting back to $1 on its own in the future as it has done in the past once speculators get bored with it). My main point is, it's a very fresh, recent discussion. Yes, it's been brought up before, but I can confidently say there are no nefarious motives among the witnesses in this case that I've been able to discern based on the discussions I've seen. They truly do want what's best for the platform, and if witnesses aren't currently openly to taking one side or the other it's because this is a very complex situation that requires a lot of education on all sides for people to fully grasp how the system currently works, how its intended to work, and how it could possibly work in the future to provide even more rewards pool post rewards for our users.
Most aren't taking a clear stance yet because it's still being discussed. Reading through thousands and thousands of lines of discussion takes hours, let alone contributing our own perspectives. We're reviewing papers on stable coins, debating macro economic theories, and more trying to position ourselves for the best opportunities for growth for everyone. No one is making any changes right now. No code has even been written for this. We're still really early in the process and working to have a helpful, educational discussion for everyone so we can all move forward with some confidence we're making good decisions.
I really do believe the witnesses want what's best for the platform.
But if you really are looking at "reviewing papers on stable coins, debating macro economic theories" I am sure you are missing the point here completely.
There is not a single comparable situation or asset or whatever to get a good advice from. This can't be solved by looking at theories or what other stable coins do.
You need to decide, if you want a stable coin at 1$, 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.