When it was at $10/SBD, It was like trying to take away the crack pipe from an addict...not a good idea.
now that's it close to $1, I'm in for a 2-way peg or getting rid of it entirely.
When it was at $10/SBD, It was like trying to take away the crack pipe from an addict...not a good idea.
now that's it close to $1, I'm in for a 2-way peg or getting rid of it entirely.
I think that makes sense. But I hate getting rid of it, however if were cannot fix it then I believe getting rid of it is better.
It will help however to focus on one goal vs two, so I think everyone should advocate for giving witnesses tools to ensure the peg or allowing it to buy at some premium.
Look, the creation of an intermediate token for the absorption of emissions (payments to authors) is very beneficial for the algorithm. Because the speculators take it for accumulation and the subsequent pumps. The number of SBDs is very small compared to the main token, and this makes it very attractive for speculation. Thus. the issue is taken away from you free of charge, + it is nice sometimes to see SBD at 5-10 dollars for PR.
If you remove SBD, you will have to buy emission from author payments, as speculators are less interested in this because of the huge amount of Steem coins. It is much harder to raise it, which means that we will receive constant pressure on the price of the token, which is not very popular already.
I would beg that advertising a token to be worth $1 and then it doesn't perform as advertised is bad PR telling the world that our tech doesn't work as intended. It's nice for authors, but for anyone out there looking who doesn't know what SBDs are, it's bad. The new people don't understand that nuance and then are left puzzled.
Simply advertise SBD as a token, which can be guaranteed to be exchanged for 1 dollar in Steemit, and on the external exchange it can cost 5, 10, 18 dollars))) This is much better than just a 1 dollar, as for investors (which enter SP only for selling upvotes) , and for authors. Simply, higher ROI.
Can't agree. New people here do not need to anyone with their texts, they only needed for their money to buy tokens. And if people invest money, they will sort out all the nuances, and certainly will be happy with the high rate of SBD.
In any case, removing SBD will significantly increase the load on the main token, and it will fall more quickly, and grow more slowly. It is necessary to understand that the economy of Steemit is completely leaky, and only speculators on the stock exchange can fix its holes. SBD gorgeous pump and dump token. It is really bought up by speculators and sterilizes emission. For me, it's hard to come up with a more idiotic solution than to kill SBD.
But I'm not really worried about Steemit anymore, then what happens to the SBD will only accelerate its departure from the top 100.
agreed on the PR point and I work in PR since over 18 years
Exactly. Even seasoned authors don't get it, they just say thank you.
Exactly. Even
Seasoned authors don't get it,
They just say thank you.
- jefpatat
I'm a bot. I detect haiku.
100% agree with you on that comment.
I kind of like it here. Account growth atm is sped up 4-5 times. In the end that should be the goal.
Steem will hit, 5-10 USD in 6-12 months so its kind of a good thing prices are low if you arent looking to cash out. My last upload will make me more SP then my last 5 uploads combined when the prices were double this.
Its kind of weird that everything is worth less but you get more of what you need for growth.
How much high did it go...Can you tell me how this steempower works.
Can't agree more, two way peg is the answer.
then we should not sell it anyway.
I'm in favor of a 2-way peg.
@tabgerinetravels what is 2 way peg
Right now, the blockchain allows you to convert each SBD for $1.00 worth of Steem. This creates arbitrage opportunities when the price of SBD falls below $1.00, and this profit motive drives the price of SBD back up to $1.00. However, there has never been a similar downward pressure on the price when SBD is trading above $1.00. This is a one-way peg.
If we changed the blockchain code to allow people to convert a dollar's worth of Steem into 1 SBD, that would also create an arbitrage opportunity. When the price of SBD exceeded $1.00, people would convert their Steem into SBD and sell the SBD. This would create downward pressure on the price. When you add this element, it turns into a 2-way peg, which should do a much better job of keeping the SBD price around $1.00.
#cryptoctopus IT WAS REALLY $10/SBD??? I AM REALLY SHOCKED. I would pray that it comes to that again.
It went as high as $12... happy days.
Cg
I remember the days makeup tutorial videos and travel vlogs would make 30k a post.