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RE: Still in Defense of a High SBD: Why Witnesses Should not Implement Steem to SBD Conversions Now-

in #steem6 years ago

I agree that we should do nothing right now.
At the minimum, wait until the market cycle is over and SBD is trading sideways.

This whole SBD peg was easy to keep when STEEM stayed under $1 US. After that, the balanced shifted immensely.

I would like SBD to be pegged to the dollar, but I do not feel that now is the right time to do it nor that the current proposed plan will work.

A way that may work best is to wait for parity of SBD and STEEM. And then give every account an equal amount of STEEM for the outstanding SBD. And then, implement a pegged SBD with a good method for over and under valuations.

Of course, by the time we get this worked out, the US$ will crash and burn
... sometime next month.