The trouble with SBDs - a poll

personz(66)

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#steemit

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SBD price is high! This is good! Sell SBD! Or hold for higher price! Profit!

But is that the whole story? Is this actually a good thing in the long term.

There are some great posts making the case one way, but if I may be so bold as to summarize there are two camps, I would as follows:

Peggers vs Backstoppers

Peggers

The Peggers think that SBD should be pegged to the US dollar, as was the original intention of Steemit in the whitepaper, as well as many manifest assumptions in the system design and implementation.

Backstoppers

This group thinks that it's great to have SBD as a currency that will always have a value of at least $1 USD but not one with an upper limit of the same, that the value should be allowed to pump as high as it will go.

Others?

I haven't heard many other points of view that couldn't be put into either camp (except people who don't care 😂 ) but I can think of one or more. Maybe you think that SBD shouldn't be pegged or backstopped at all and just allowed to ride? Let me know if you don't fit into either group.

What I think

I'm currently in the Pegger camp. I think that it should be pegged, and I'll go further, I think that if it can't be pegged that we shouldn't have the SBD token at all, we then don't need it.

SBD is supposed to be a crypto dollar, with as much stability as the US dollar. It is intended for use by merchants and general everyday use, not as an investment token to buy and hoard, at least not mainly. The peg is part of this, the most important part.

However I did hear an interesting point made by @aggroed on this: because SBD pays out as the (optional) liquid portion of Steem post rewards, it is a way for people who are engaged to benefit. This is true and I wonder how established investors think of it. Is it fair? Personally I'm very intrigued by it, I've always wondered about what ways can the chain benefit those who are actively engaged. I suppose the downside is that all kind of comment farming has also become really profitable.

What do you think? This is a poll!

The most reasonable voices that I've heard all advocate the same thing - don't do anything for now. So I don't make this post to encourage a change, which is what I usually do 😅 No, I just want to see what people think about this and a poll seems like a nice way to do it.

Upvote the comment below with decline payout which best fits your position and feel free to add any comment to why you choose that. Come on, I'm curious!