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RE: The trouble with SBDs - a poll
The problem with having a volatile SBD is that the currency becomes pointless. It is supposed to be stable to encourage trade and economic transactions within the ecosystem. But if STEEM is more stable--which it has been the past few weeks--then what's the point?
Well yes, exactly. Those are the lines along which I am thinking. The counter argument is that it serves a different purpose to the Steem token and brings in value a different way, since like it or not it is effectively backstopped already, more or less.
My position is that it is useful to have when SBD is below a dollar: the white paper advises two actions depending on the debt ownership ratio. In the current situation we just have to wait for stupid to wake up.