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RE: SBD Potato Day 54: Make SBD $1 Again!
Can someone explain me why do we actually need SBD at 1$ ? We got steem that has become widely used even in outside services. At an initial point, there was a reason for having third token - SBD, but now?
I suport the idea by voting, but don't understand its purpose in nowadays steem economy
SBD was meant to be a stable coin used by merchants so they can rely on a fixed value in order to correctly price goods and services and bring global business to Steem, however it got broken and is now effectively useless, we either have to fix it or get rid of it. Getting rid of it requires significant blockchain code and also planning on how to deal with the fact that exchanges may hold SBD and so may many users, fixing it is much easier.
A stable currency make the economic system stronger, because it could be used as more reliable intrument to be used as a transaction means.
It doesnt matter, because this experiment isnt acually achieving anything.
You can read more about it here:
https://steempeak.com/sbdpotato/@phgnomo/how-sbd-peg-actually-works-or-how-the-sbdpotato-conversions-won-t-affect-sbd-price