The discussion has been about the SBD and how it should or shouldn't be pegged. If you are on Planet Steem, then you will understand what it is I am talking about and if you have no idea, then please you just need to read these articles by these witnesses to understand the debate and see if you can follow the story.
@Lukestoke's Should SBD Be a Pegged Asset? If So, When Should We Peg It?
Witness Discussion – SBD price and reverse peg
Are you done reading? Did you see something that makes you stand for or against???
Well, I think we really should think about this as from all indications, the SBD is not supposed to be this high and taking a line from the Steemit Whitepaper
Steem Dollars (SBD)
Stability is an important feature of successful global economies. Without stability, individuals across the world could not have low cognitive costs while engaging in commerce and savings. Because stability is an important feature of successful economies, Steem Dollars were designed as an attempt to bring stability to the world of cryptocurrency and to the individuals who use the Steem network.
..and also
Steem Dollars are created by a mechanism similar to convertible notes, which are often used to fund startups. In the startup world, convertible notes are short-term debt instruments that can be converted to ownership at a rate determined in the future, typically during a future funding round. A blockchain based token can be viewed as ownership in the community whereas a convertible note can be viewed as a debt denominated in any other commodity or currency. The terms of the convertible note allow the holder to convert to the backing token with a minimum notice at the fair market price of the token. Creating token-convertible-dollars enables blockchains to grow their network effect while maximizing the return for token holders.
- from @Lukestokes' blog.
So can you now see why the call for the pegging of the SBD may be in order?
Although these traders are having a field day making good turnovers and also Steeemians cashing out big time, we also need to be mindful of the harm (if any) it may be causing to the Steem Blcokchain and setup.
Let me know your thoughts in the comment section.
Should the SBD be pegged, if yes, to how much and when?
