RE: STEEM Economic Changes Update (@officialfuzzy's thoughts & concerns) by svamiva

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steem · @svamiva · Nov 8 '16

>some terrible black swan Dan sees coming

Well, most obvious *black swan* would be collapsing of SBD price

👍 officialfuzzy

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@officialfuzzy · Nov 8 '16 (edited)

Agreed, though there is no sign of that happening at present that I am aware of.
 We have seen it go pretty low, but it generally floats around .8-.9

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@svamiva · Nov 8 '16

SBD price floating around 0.9 is not something you can rely on to happen just naturally. I quote @smooth
> SBD holders may reasonably doubt whether they would actually be able to receive and successfully liquidate 1 USD worth of STEEM as repayment). This is somewhat exacerbated by the 'SBD stability' feature which reduces repayment rates should SBD debt exceed 10% of STEEM market cap. It is currently at about 7%, meaning SBD holders are close to taking a 'haircut'

from here  https://steemit.com/witness-category/@smooth.witness/witness-sbd-pegging-policy-update

When I put on my "company CEO hat", facing this situation, an investor willing to pay off company debts (1.7 million SBD ) in exchange for something like "blocking minority ownership" *would get* a special treatment.

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@abit · Nov 8 '16

If you take a look at the rich list, quite some percentage of debts are in the hands of "trusted people". I have strong confidence that a black swain event won't happen in the near future, even if the price of steem token drop further.
(I agree that hurting the price of steem does increase the possibility to a black swain event.)

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@officialfuzzy · Nov 8 '16 (edited)

Maybe not, but they have effectively survived a black swan already and if we keep a solid snd happy community, we will have the trust that will not shock and scare the market. 

Additionally, and most importantly, people who are building onto steem need a solid foundation. Shake it tok often and they leave. Then try backing anything with steem :/
I thank you for bringig up this valid concern.

As for the CEO hat I understand this perspective but if you risk losing your earliest and most loyal groups of people?

👍 svamiva

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