RE: Poll: Should we get rid of the SBD (Steem Backed Dollar), and just use Steem for everything instead?

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Poll: Should we get rid of the SBD (Steem Backed Dollar), and just use Steem for everything instead?

in steem •  7 years ago 

SBD is meant to be a stable currency that’s less prone to fluctuations

This is no longer the case though, and this is my point. If they were to perma-peg the Steem Dollar to the United States Dollar, then it would have purpose, but if it fluctuates the same way as Steem does, then what is the purpose?

steem
7 years ago by

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      ·  7 years ago 

    Why is it not pegged to the USD anymore?

    Is the USD the most stable currency in the world?
    If not what is?

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      ·  7 years ago 

    SBD is over $2.00 right now... is that price pegged to the USD?

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      ·  7 years ago 

    Let me clarify- I’m not saying that the SBD is pegged to the USD right now. I’m asking why is it not?

    Was it never truly pegged? Was there a fork somewhere along the line? Are there outside economic factors that prohibit the SBD from being pegged to the USD? Are there any new tax/legal regulations that have any impact on pegging the SBD to the USD?

    I find value in having a cryptocurrency with a price stabilization mechanism. In terms of having a business that intigrates cryptocurrency, that price stability is essential for ballencing the books.

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      ·  7 years ago 

    There is nothing stopping the Steemit programmers from perma-pegging the SBD to the USD, they just haven't done it.... yet.

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    [-]
      ·  7 years ago 

    Can you think of any reason why they wouldn’t?

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      ·  7 years ago 

    I guess they don't want to, I don't know. I have still never actually seen voting via witnesses actually work, but they would have to in order to pass the code change.

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      ·  7 years ago 

    You so great

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        ·  7 years ago 

      Thanks for the kind words :)

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