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RE: Can SBD Be The New Tether? Which Witnesses are Against The Reverse Conversion Mechanism (Steem --> SBD)?
I oppose a hard peg. I think it's nice that we get a bonus when SBD is above $1. It's hard enough to make money on here as it is so I don't think we should make it even harder.
It’s always nice to get more money, however this hurts the ecosystem overall and creates other issues.
A peg can never work if market forces become too strong. If a huge order to buy/sell meets a tiny market, the exchange rate will change.
not sure if this is how it works. I think some part of the potential rise in steem was absorbed by very high sbd. User payout is limited by money flow into the system and that does not matter if it is just steem or steem plus sbd.