How does Steem stakeholders and witnesses feel about the SBD price?
Hello Steemians, it's been a while. It's hard to miss the soaring price of the Steem Backed Dollar. As something worked into the chain's logic as a stable coin, I'm curious how users, stakeholders and witnesses here feel about it's current price?
But first, I thought I would provide some context, having seen this before 3 years ago and participated in many discussions on the topic then.
I remember the period from late 2017 to early 2018 very well, and there is a lot about the crypto market that reminds me of that era. I don't recall if SBD ever went above $13 as it seems to be doing now, although it may have peaked at $15 on some exchanges.
Anyways, there were a lot of discussions at the time of simply allowing it to live its own life and to abandon the idea of a peg. Some argued STEEM could be the resource people need to use the chain, much like a mining rig equipment, while SBD would be "our Bitcoin".
Authors, for natural reasons, loved it as it just meant higher rewards. I remember it because we were just starting to build our first dApp, and had made a Steem Gift card service for Christmas just before that. Post rewards from the community appreciating our work and updates were a big part of the early motivation and funding to get some cheap design help and move faster with our prototyping. So from that perspective, a higher SBD price just meant we were able to do more with less.
I thus find it interesting to see this happening again, and how Steem seems to be embracingt he higher price while the competitor does everything it can to keep the price low. Personally , I don't see the need for or value in a quick fix to the peg. One either builds a long term strategy that involves proper use of the token, and prioritize developing a stable peg so that real businesses want to adopt it, or you discard it or let it live its own life.
So I'm curious, what do people on Steem think?