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RE: What Pegs Up Must Peg Down - Is SBD Really A Tether and Is It Doomed?
I think the SBD is very important for Steem. What would help is if big exchanges like @coinbase and @bittrex offered USD/SBD pairs this would keep the market pegged to the dollar and help people earn SBDs through commerce. People don't want to buy things with SBD or crypto for that matter because of the BTC pizza delema. They think the SBD will be worth more down the road. Crypto currencies are great but something should be there to help people transfer money for everyday expenses. Steem should be a great storage of future wealth, earnings and SBD should be for buying coffee. This is a complimentary token to the levels of BTC. We hold BTC use STEEM for everyday transactions.
This wouldn't peg it to the dollar at all, just because you can buy it in dollars does not mean it should be worth the same. The only reason that the TUSD is tethered to the dollar, is because a 3rd party holds money in escrow.
This is not done by the exchange or the coin devs. Hence we would have to do all sorts of deals and somebody would have to take responsibility for SBD for it to be a true peg coin. At the moment we are just hoping it will be a peg coin by saying it over and over again.
Plus, as I mentioned above, a coin can still be worth $8 and be stable, just because you peg something to a dollar does not automatically make it stable, as we've seen with SBD.
Cg
Yes very true. It would be nice if the SBD is stable but it is just wishful thinking. I guess the way to earn a "stable" crypto is to except usdt ot tusd for services.