You are viewing a single comment's thread from:
RE: STEEM Dollars (SBD): Terminal End of Correction Approaching
I know the witnesses were talking about slowly bringing sbd price down and pegging it to $1, has there been any action on this idea?
I do see long term value in a stable coin for the steem ecosystem, but as long as there are incentives to speculate, people will speculate. If we want a stable token it would be best for the witnesses to come to consensus, announce the change, and make the change on the next hardfork hopefully before the next price rocket.
There is almost unanimous consensus between the top 20 witnesses but, at the same time, we recognize many do not want to see their inflated author rewards to go away. For the most part, it seems witnesses are not willing to implement a reverse conversion unless the price drops closer to $1. We don't want to be the "bad guys" who turned off the SBD faucet, even if we're thinking about the long-term benefits of the entire ecosystem (including increases author rewards due to increased value of STEEM and the resulting rewards pool). At this point, unless more people demand action from the witnesses, I don't know that much will be done.
In that case unless bitcoin and everything else takes another dive to a lower low, the days of sbd being anywhere near $1 are probably over.