RE: I submitted my first hardfork pull request to the Steem blockchain! (Updates to the SBD print rate.)

You are viewing a single comment's thread from:

RE: I submitted my first hardfork pull request to the Steem blockchain! (Updates to the SBD print rate.)

silentscreamer in #steem • 7 years ago (edited)

Now that ive read most of these comments i still fail to grasp the point of SBDs, except that it adds more liquidity into the ecosystem. Why exactly is it trying to be pegged to the dollar? Whats the underlining purpose of that? Stability? I dont think you can have that.

Couldnt you just have free flowing SBDs? Without pegging it, make it just a debt instrument?
I know posts payouts would change somewhat, not sure what effect that would have, but i just dont see a point in peging it.
SBDs dont have any use STEEM doesnt already fulfill for the average user.
What i want to say is that i dont get it. I really do not get the peg.

7 years ago in #steem by silentscreamer

0.00 BPC

1 vote

Sort:

Trending

[-]

kirkins 7 years ago

SBD shouldn't even exist, it adds nothing. You could just used liquid steem for any case where sbd is used.

0.00 BPC

[-]

knircky 7 years ago

Yes it does! It creates a currency. Steem is not a currency, if you want steem to matter in any significant way Sbd needs to work.

0.00 BPC

3 votes

[-]

kirkins 7 years ago

Vote bots accept liquid steem, STEEM is a currency. What is the functional difference between liquid steem and sbd?

0.00 BPC

[-]

knircky 7 years ago

in order for something to be currency it requires stability, else not useful for commerce. steem is an asset sbd is designed as a currency. sbd has design flaws which is why it does not work as currency either currently. Tim is trying to fix these.

0.00 BPC

4 votes

[-]

sorin.cristescu 7 years ago

I'm glad to see someone actually saying what I was thinking all along: the real "currency" is the SBD, whereas STEEM is more like a security / asset. I actually see STEEM as a sovereign bond of the "Steemia" - the virtual country where people earn and spend SBD (the internal currency)

0.00 BPC

[-]

silentscreamer 7 years ago

I agree. But SBDs add liquidity to the ecosystem. Any debt based asset does.
If it wasnt for SMTs id be for SBDs remaining but with SMTs coming tbere really is no use for them. The peg only seemed as a gimmick to me.

0.00 BPC