It was the creators' goal to have a price-stable currency because it's something the crypto space was lacking. SBD's stability hasn't been nearly as good as intended.
If that was the only goal it might be time to admit failure and somehow phase out SBD as it just complicates things imo. If Steem ever goes below $1 it’ll be useful but I could also see it further crashing Steem.
Commenting on my other account here. There are options for making it be more price stable. But I’d like to let it play out for a few more years and see what happens. Maybe it will become more stable. There have already been long periods of time where it stayed around $1.00.
No, that wouldn't be necessary. Right now, if it drops below $1.00, there are arbitrage opportunities, and opportunistic users push the price back up. We could simply create arbitrage opportunities going both ways by making STEEM convertible into SBD.
Or we can just wait and see what happens longer term with the price. It's my opinion that over the long term, we'll see the price around $1.00. That's why I'd like to just leave it the way it is for now.
It was the creators' goal to have a price-stable currency because it's something the crypto space was lacking. SBD's stability hasn't been nearly as good as intended.
If that was the only goal it might be time to admit failure and somehow phase out SBD as it just complicates things imo. If Steem ever goes below $1 it’ll be useful but I could also see it further crashing Steem.
Commenting on my other account here. There are options for making it be more price stable. But I’d like to let it play out for a few more years and see what happens. Maybe it will become more stable. There have already been long periods of time where it stayed around $1.00.
If I understand this correctly to reach $1.00 SBD we’d need Steem and crypto as a whole to also stabilize or drop a ton?
No, that wouldn't be necessary. Right now, if it drops below $1.00, there are arbitrage opportunities, and opportunistic users push the price back up. We could simply create arbitrage opportunities going both ways by making STEEM convertible into SBD.
Or we can just wait and see what happens longer term with the price. It's my opinion that over the long term, we'll see the price around $1.00. That's why I'd like to just leave it the way it is for now.
Interesting, I think that’d end up stabilizing Steem but create issues with inflation depending on how it’s done.