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RE: A fable about a Shepherd who also raises wolves
What you are saying here sounds very reasonable. I would love to hear a comment from Dan on this. I'm thinking of voting for you as a witness.
What you are saying here sounds very reasonable. I would love to hear a comment from Dan on this. I'm thinking of voting for you as a witness.
https://steemit.com/steemit/@dantheman/steem-dollars-have-limits
As the value of STEEM falls, the amount of STEEM required to represent a U.S. dollar worth of value approaches infinity. If left unchecked, the Steem Dollar could render STEEM worthless and when that happens all Steem Dollars become worthless too.What he does not say is the reason why Steem (and SBD) becomes worthless, is because below a certain price, witnesses servers cannot be paid for.
Thanks lok1. What I don't understand now is why we don't implement your suggestion immediately? This is a know possibility that is destroying steem and playing out before our eyes. It makes more sense to protect those who value steem and steem power and are prepared to ride the turbulence than let SBD destroy the lot. The dollar is a menace anyway.
Well, I think the topic is up again and for very good reason because as I keep saying, we are fast approaching the point where witness servers cannot be paid for. This should be alarming, because the network is the heart of this.
indeed