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RE: That's It, There Will Be No More SBD!
I dont understand, what is the problem with the sbd.
Ok, i dont know either, why exist sbd, because the chain have steem :)
But i think, that have the reason. But what is this reason?
And if get no more sbd, its good, or bad? What happen next with the existed sbd?
That's going towards the fundamentals of steem now. I'd suggest you to read the whitepaper for more details :)
It seems to me is too much official blabla :) Im not an IT-guy :D
But ok, i make a try :)
As I see (and understand) it, STEEM is the entry point in the ecosystem.
Once you're on the inside (steem ecosystem), you're rewarded in SP and SBD.
SP is the way the system protects itself against wild swings of influx - outflux of users that would attract speculative interest mostly, hence powering down limitations.
SBD is what we're supposed to use on the inside as the form of payment.
The tricky part is that SBD value is somehow related to the real world AND the value of STEEM.
Here's where limiting how much SBD is in circulation comes in handy.
If there's too much demand for SBD, it's price is inflated.
The reason it's capped is that people would be incentivized to actually use it as payment on the inside and eventually exchange it when they want to.
Where we're at now is at the point where more people choose NOT to exchange it, hence the cap kicking in and stopping production.
In my first reply I've thrown an idea in the ring and I am sure there are people out there that understand all this better than us.
Please jump in and keep in mind that not all steem users are very tech savvy, but all steem users can contribute with something in here.
Sending all people to the whitepaper is like sending a 3 years old to read about nuclear physics when he asks you why is the sun bright, don't you think (@steembusiness)?
I get that some people's time has more value than others, but if we don't even try to help each other, we're all doomed, and that's supposed to be the steem mantra, or am I getting it totally wrong?
The value for value model is supposed to solve that problem.
Getting votes for useful contributions is what all this is supposed to be about.
Sorry if I offended anyone - not my intention at all.
Hope It helps somewhat understand the situation.
I stand to be corrected if I got it wrong.
Full STEEM ahead!
Thanks! This help to me :)
Btw i tought, the sun is bright, because it mirroring the light of stars :D Its not true? The reason is in the nuclear physics? Its boring... :D
I know...
Some analogies may seem out of proportion, but that's how we can grasp the ideas better: blowing it up to the point it's obvious.
Reading the whitepaper cannot hurt, but that would be even more boring for most.
On the other hand, we may very well use the tools at our disposal the way they were meant to be used: to contribute valuable content AND help each other.
The rewards system is in place for that, too.
Glad to help when I can.
Keep steeming!