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RE: Falling STEEM/SBD Price - Proposed Solution to the SBD Debt to Marketcap Ratio Problem
Hi Tim, thanks for the article and for the mention. It's a bit late now for me, but I promise to look over the entire article with more attention tomorrow and hopefully come up with a more complete answer, but until then, at the first glance, I don't think this "interventionism" will work. The problem is real, but fixing it from the top to bottom may not be ok. IMHO, it will be way better if STEEM holders will have something to spend their steems on, than to adjust the numbers from the price feeds. But then again, I promise to look over your proposal in the morning, it may work very well and I may just be bit foggy now.
Thanks for the reply. I appreciate you planning to provide scrutiny/review.
Yes, I agree that this would be better, but it would need to be something that actually 'uses' STEEM/SBD, rather than having it exchange hands.
While this solution would be preferred, my worry (and other's as well) is that the time to develop and roll out a solution of this nature could take another several months or even closer to a year.
The problem we are trying to solve is basically the price spike from July, and is not meant to be a long term solution for the price/value of STEEM/SBD.
In the end, I wrote an entire article, because it would have taken too much space here. Thanks for incentivizing me to do this :)
https://steemit.com/steem/@dragosroua/steem-is-a-river-sbd-is-bottled-water-and-steem-power-is-a-dam
Really good article! Thanks for putting that together, I enjoyed reading it :)
Yes, I'm thinking at the same thing, a way to actually "burn" STEEM. I have something in mind. We'll talk more in the morning.