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RE: Steem experiment: Burn post #130
I really do not understand the rationale and reason behind pegging another coin at $1 when USDT is there. Okay, are we now trying to put sbd in apposition with USDT? Trust me, I foresee discouragement on the side of minnows if this happens. Then for whales with huge sp, how will you be sure they won’t power down at high steem price and leave the system? Or better still, they could buy back the sbd, and of course, the price of sbd will moon again
whales are leaving this system since bid bots are dominating the system... in steem whitepapers said sbd value is 1$ and can flactuate within market... for minnows it's okay to get sbd at 10$ value but they won't power up into SP... they sell it in fiat and that kick out the true and better reason to improve STEEM cryptocurrency.... what's matter more, a token or a cryptocurrency? And what matter in this system, STEEM value or SBD value? if STEEM moon, all post's rewards will moon and it gets more SBD. If SBD moon, it doesn't affect rewards more than trade in market or use bid bots service that are affecting the system
USDT is a centralized system that relies on Tether company keeping USD in bank accounts and using that USD to maintain the price of USDT. If those bank accounts are frozen, USDT will fail. That's very different from a decentralized pegged asset.