RE: The benefits of inaction: a defense of a high SBD.
Whenever you fuck around with a marketplace it smacks you. I agree with you, just leave it be and let things take their course.
If the Steemit community keeps artificially suppressing the natural rise and flow of SBD and Steem then it ultimately dooms the platform to being less successful than if the underlying Crypto currency takes off.
As it is there are already too many artificial constraints and it's already too complicated. The idea of SteemPower being locked in to prevent speculation and encourage posting is a great one, but the notion of automatically devaluing Steem every year by 9% and the notion of pegging SteemDollars to the USD are completely daft.
The Steem blockchain has three beautiful birdies. It desperately needs to let two of them fly free. There's nothing to lose, Steem is one of the top 5 Crypto currencies by volume as it stands. It could be the next Bitcoin, but not if the artificial suppression keeps happening.
I totally agree with your sentiments. It actually makes me uncomfortable that this is even a discussion. Part of the reason I was drawn to steemit in the first place was the idea of mining through content/curation. By manipulating the price, you're effectively diluting our profits. Let's face it, in addition to earning SBD, I want those assets that I earn to appreciate as well. That's a huge draw to the platform.
I agree. Sorry I didn't reply was away on work. It's really interesting looking at it in perspective a week further on, what I'm seeing is generally all around Steemit people are now getting higher value payouts for content, so that's the win of letting the market take over. Steem Dollars and Steem are both very consistent risers on Bittrex and not as prone to the Alt Coin traders who manipulate the curves on the other currencies which is the benefit of such a huge Steemit userbase. So one week on the benefit of Steem and SBD rising in dollars is better payouts for Steemit's internal content creators. That has to be a win for the platform as a whole.