RE: Unpegged SBD: A Pointless Speculative Asset by nathen007

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Viewing a response to: @greer184/unpegged-sbd-a-pointless-speculative-asset

sbd · @nathen007 · Jan 24 '18

$2.14

This community is strong and growing BECAUSE of the financial rewards, not despite them. Financial benefits encourage people to fight to improve, to compete for readers by becoming better.
There is an element of strategic gaming involved which again, I think many people enjoy.
Accept it for what it is, a community exchange of ideas and place of learning with added reward. The only way to grow and keep the quality improving is to leave things the way they are. ( in ref. to pegging SBD)
The financial rewards also help to clean the group of spammers and chancers also, this happens to those that come here JUST to earn, if they dont quickly make money with their one word comments and copied posts, they just as quickly stop. This is a benefit of course.
Greed you say ? In some cases, perhaps but in the majority no. Many simply want to work harder and be rewarded accordingly, many others want to create content to earn to give away, others simply want to earn to help lift themselves out of a difficult life. This community allows these opportunities. This is NOT greed and its a rather presumptuous and not very nice thing to say.
Leave the Steem and SBD as they are, it's a dynamic most people enjoy.

👍 therealwolf, nathen007, greer184, ender

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@ender · Jan 24 '18

$0.19

Well I think a higher steem and lower Sbd would be good for everyone. Sbd could be a brilliant asset if it had a larger market cap and stayed near 1. It could be the reserve asset of crypto! See multi coins post on stable value coins.

👍 ender

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@greer184 · Jan 24 '18

$0.12

First, leaving things they way they are when they could be better is not a very rigorous standard to hold oneself to. Especially when you have a potential asset that you can utilize to break through the noise and develop an internal economy with the ecosystem. 

Sure, the community is growing because of the rewards, but I'm not proposing we get rid of rewards. Steem would remain unaffected and SBD would become more useful. The only thing you would lose out on is "arbitrage" which more newer users have little idea about. Nobody is losing out on any money except for a few short-term dollars with the benefit of having a useful asset.

When I saw the overwhelming support (without any good reasoning behind it) for SBD the way that it is, it was due to this notion that higher SBD is more valuable. Eventually SBD will have to decrease since more will be produced as STEEM's price increases. Why not eliminate these misconceptions now and have a more valuable long-term platform?

👍 mountain.phil28, ender

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@ender · Jan 24 '18

$0.18

Think if steem dollars became he new tether. It could happen because what better way to back a stable coin than a social network. The only thing holding us back it too little supply of Sbd and too high a Premium. Imagine if he cap was the same with 5x the supply! Sky is the limit.

👍 ender

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@nathen007 · Jan 24 '18 (edited)

I know youre not talking about getting rid of rewards, but you are wanting to change a formula that seems to see this platform on a rising exponential curve. What are you talking about being better?
What I want to see is an improving UI, things to stop abuse by the small percentage of greedy (mainly high level) users, changes in the way the rewards are allocated to increase engagement, I could go on, but this issue, what I perhaps naively consider a minor issue, is taking up far too much time.
I'm never against change, but while the platform is growing and whilst there are more important issues to address, leave it be. Or convince the most important people, the users, what exactly will be better ?

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@greer184 · Jan 24 '18

But why should we change the UI? Or stop the abuse and greedy users? That would changing the formula that sees the platform on a rising exponential curve. 

I think that both of those issues should be addressed and have talked about them in the past. I just felt like talking about SBDs today since a proposal was brought up yesterday.

My point is that I want the SBD to be more useful and fix problems that coins like Bitcoin are not solving. Like trade and stability. But that doesn't mean that it has to be the first priority.

Also, you are free to vote for witnesses as you please. I'm not telling you that you have to believe anything I say. In fact, I would encourage to vote @aggroed for a witness as he is pro status quo on SBDs.

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1 reply

@therealwolf · Jan 24 '18 (edited)

Thank you @nathen007 - couldn't have said it better!

Yes, there are good use-cases for a pegged asset, but I don't believe in enforcing it!

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