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RE: Steemit EXCLUSIVE: Witness Tim Cliff Talks SBD & STEEM, Succeeding on Steemit, More!
Hi @timcliff great interview.
I don't think what you are saying about the value of SBD is quite right.
According to Dan it was designed not to go below 1 USD there is nothing at all to prevent it from being higher.
That's what I think I said ;)
There are things we as witnesses can do to push it up. Also, if it falls below $1, it is likely traders will but it up and resell at $1 (pushing the price back up).
We don't however to have much as far as mechanisms to push it back down, so if it goes above $1 USD, then there isn't much to prevent it.
[Edit] One thing to add though, is there is a continued increase in supply as new SBD is generated, so that is the main market force that adds downward pressure.
Do you think that SBD could be stabilized and pegged more closely to the dollar by treating it more similar to how Bitshares treats the BitUSD?
Yes, although if that is the goal, I am more in favor of just allowing reverse conversions (STEEM->SBD).
Would you be up to making a post on this topic when/if you get the time? It would be very interesting to hear this laid out from a witness perspective; how the two ways of management differ, what are the down vs upsides for you in your work, for Steem as an economic system and how it would ultimately affect the "product" that the "consumer" then utilizes for storing wealth in, transfers to others or (still in both cases I would assume to some degree) speculates in.
https://steemit.com/sbd/@timcliff/saving-sbd-proposal-to-restore-the-usd1-usd-usd1-sbd-peg
So much happening around here that apparently I forgot that I had already read it. Will re-read it though. Thx.
Hey thanks
Please Up Vote my post please