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RE: STEEM, STEEM Power, Vests, and Steem Dollars. wtf is this shit?

in #steem • 7 years ago

If the idea was to peg SBD to the USD why did they not peg it in the first place rather that having a peg that just prevented it from falling below 1 USD ?
Is this just snafu ? or is it a case of people assuming one thing when reality is something completely different ?

7 years ago in #steem by
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     7 years ago 

    They did peg it, the problem is they didn't create enough tools to push it down. The main concern was it falling, I don't think it spiking was a major worry.

    We have ways to push it down, but they cause other effects that can have undesirable results.

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     7 years ago (edited)

    According to Dan L (i cant be bothered finding the spelling of his last name as you know who i am talking about) it was never pegged to stop it from going up only pegged to stop it falling below.

    I can see that it may be useful to have a stable price.

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