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RE: Using the DAO SBDs to buy and burn STEEM: How we can make it happen!
this is against all my knowledge and understanding
demand should come from people.
not from other "currency" being printed out of thin air
that kind of strategy is not sustainable and would be heavily abused. And it would greatly affect trust towards SBD
What exactly is all this knowledge and understanding you are referring to?! It's simply moving excess value currently residing in SBDs (that aren't even being printed) and transferring that value back to the main STEEM coin. The service will be automated and can be stopped at any time if SBDs fall below a dollar. Did you read the posts?
The currency's being printed already (in the form of SBD) and being stored in the steem.dao account. If this proposal is accepted, then a portion of steem.dao held SBD's would be sold (to lower the value of SBD to $1 - where it was always intended to be) to buy STEEM (which would increase its price).
This proposal would initially be a detriment to users who hold SBD but a benefit to those who hold STEEM.
It makes a lot of sense and has been discussed before. Hopefully this push by @jondoe will see it happen 👍