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RE: Can We Change The UI to Display Rewards in USD?

in #steemit4 years ago (edited)

I'd like to suggest that rather than attempting to fix the SBD and its related issues, we remove it and have all our valuable attention focused on making STEEM the best that it can be.

While I do see the value in providing SBD as an "easy in" to the world of cryptocurrency, this value is rapidly diminishing. Not only because of the peg not working properly, but because of how rapidly knowledge of crypto in general is spreading coupled with the fact that new users still have to deal with both currencies + Steem Power.

There is also a at least one potential economic backside to having a pegged currency dependant on STEEM, which could end up with us driving users towards using SBD as their primary means of exchange. This means - under certain market conditions at least - that there is less demand for STEEM than there otherwise would have been.

Fixing all of this would seem to require only one swift change: Stop issuing SBD. Something we could all live without.

Prices could then easily be displayed in STEEM and USD side by side.


I agree with your point that there is no use for a currency to make trading between dollars and Euros easier, because almost everyone exchanges Steem to Bitcoin, Bitcoin Cash if he/she is smart IOTA or to the at the moment because of this cryptokiddies-madness blocked/handicapped Ethereum.
So there is no reason to keep so mandy different categories.

But I disagree that it should be the Steem Dollar that should be omitted, because although the value is higher than the dollar many people trust this "term" that it has value because the are used/conditioned to it... This term definitely makes it easier to start steeming...

I even got a new idea while writing this: Instead of real silver, diamonds or platin the Steem(it) society/admins could also collect some Bitcoins and keep it the savings connected to the Bitcoin. So let's eradicate the savings column and make "Save as Bitcoin" -category...
But we almost have to keep the dollar to attract newbies to cryptocurrencies.

I also read many at steemit before I bought some Bitcoins because i wanted to understand this "crypto-trend"...