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RE: Doom, Gloom, and the SBD Debt Ratio
I think it was hubris to try to create a stable coin this early. Stabelcoins should be a project in itself and not added to an experimental proof of stake coin.
I think it was hubris to try to create a stable coin this early. Stabelcoins should be a project in itself and not added to an experimental proof of stake coin.
I have said since the beginning that I am behind removing SBDs completely as they are not really fit for purpose and there are other tokens specifically designed to operate as stable coins. I see that it makes more sense to get Steem listed on services that are intended to solve these problems, such as those that provide debit cards for crypto as it will be relatively simple for them to add in features to autoconvert crypto to a stable coin if that's what people want/need. All this said, I have read a lot about how Tether USD is not actually backed by any USDs.. lol. There are other stable 'coins' around though.
I agree that the SBD print rate adjustment was not properly discussed or its implications understood - witnesses have already stated that we are generally not happy with the way that multiple new features are lumped together into hard forks, which doesn't give us a good way to assess and test their effects individually. Currently though, only top 20 witnesses have any ability to affect the outcome here and I am not yet in the top 20.
I just voted for you for witness ura, I think we should get rid of SBD too
Thanks a lot for the support :)
@ura-soul for the win!!!
The meaning of Steemit is experimentation, but such things should be done at least a bit systematically and I agree that the hardforks seem a bit like arbitrary ideas thrown together on a whim. Only chaneg one ingredients in your cookie recipe. Else you will not know what happened. I voted for you too.
hehe - it's pretty much common sense, though usually when there is a fork there is also a significant amount of work needed from exchanges and witnesses - so that is possibly part of why they lump the changes together. I think we definitely need to formally address this issue though asap! Thanks for your support too :)