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RE: Increasing block size, thoughts on SBD/STEEM, farewell Steemit.chat
What an interesting read, @liberosist.
I don't really understand your concern about SBD falling below $1. Can't this be easily solved by the feature where you convert 1 dollar worth of SBD into one dollar worth of Steem? I know the feature is removed from the Steemit interface, but is it not still there on the blockchain level?
And I'm also excited to see how the new owners of the Steemit chat turns out to be. This all happened really fast for the community, and I understand why people are concerned about this.
Yes, indeed, and if witnesses publish a negative bias, then you actually get more than a dollar's worth of Steem for every dollar's worth of SBD. That should incentivize people to convert to Steem. However, as we know, the crypto world is absolutely bereft of reason, and a lot of people are simply uneducated about Steem. I also see impressionable minnows are fed propaganda FUD by other witnesses, and they have no reason to question said authority. So, you'll see people panic dump even though there's a better option available. Historically, SBDs have spent a majority of its life in the $0.90 to $0.95 range.
That said, this is more of a long term concern than an immediate one, and over time I'm confident SBDs will stabilize.
Thanks for taking the time to clarify your concerns for me! I get what you're getting at, and I think it's a valid concern that people would be selling SBD without knowing that they can convert it.