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RE: Witness Discussion – SBD price and reverse peg
Steem is already difficult enough to explain and understand with SBD being worth about 1 USD.
With SBD being worth any random number based on speculator behaviors, confusion is added to the system. That doesn't help for mass adoption.
SBD's should be worth around 1 USD. But a smooth transition would always be preferred over a crash. Humans are emotional beings and herd behaviour is very much a real thing.
I'd say an announcement with a 60-day period before downward peg action is executed should suffice.
Becoming wealthier> Being confused.
So "being confused" is reason enough for you to make everyone on a 50 000-user platform SEVEN TIMES poorer?
Gotcha...
No one gets poorer when 1 SBD will equal 1 USD. With a headsup in advance, people will convert SBD to Steem. In all likelihood the value of 1 Steem will rise as a consequence, which makes the users of the Steem platform wealthier.
The speculators that hold SBD's on exchanges will become poorer, but I don't care about them to be honest. I care more about the Steem eco-system and its users.