I wrote this post because I believe this issue needs to be discussed openly, rather than behind closed doors. Many Korean Steemians don't know this kind of discussion is actually taking place.

Regardless of original intention behind SBD concept, its price will be determined by supply and demand. I think we should think about the possibility of SBD crashing below $1. If SBD crash begins at external markets(exchanges), it will most probably cause internal SBD markets to go down. In that scenario, we won't be able to buy back SBD becuase STEEM acquired by selling SBD is already burned away.

Currently, total SBD supply is about 13m. As you presented the list, majority of SBD is in UPBIT exchange(7m). This means majority of investors/speculators are trading SBD in UPBIT. My guess is that if SBD crashes for whatever reason it will most likely start from UPBIT's SBD market and then it will influence Steemit's internal market.

I'm not predicting the future. I'm just worried about massive backfire if this proposal goes forward without seriously considering possible reaction of external STEEM/SBD markets. Moreover, I'm not totally against the idea. Rather, I just don't think this is the right time to do this because I don't think current status/popularity/stability of STEEM/SBD ecosystem is solid enough.

I hope there will be more active discussions and exchange of ideas regarding this issue and STEEM DAO in general. Thanks!