RE: Witness Discussion – SBD price and reverse peg
@reggaemuffin great respect and thanks for the discussion...
However, I disagree with your position and your 'Pros'. Stores and services that want to use SBD need to "VALUE THE SBD", see below.
@aggroed - great respect and thanks for your role here...
Generally, I agree with @aggroed position, I think there more 'Cons' than listed. The higher payouts have stoked more posts and more activity and more new users.
@reggaemuffin - The fact is that SBD is traded and susceptible to volatility, it is a cryptocurrency. If SBD is forcefully (programmatically) pegged to USD, then it WILL experience : "fiat and all the nightmare associated with that". It's a contradiction to want it to be tied to USD and believe it would store value better than USD or avoid problems of fiat.
"VALUE THE SBD"
@reggaemuffin I disagree that a 'non-pegged' SBD is a "bad thing for services using SBD".
Stores or services (that would 'want' prices in SBD that are tied to USD) should consider the SILVER and GOLD markets / stores / websites. The USD price of silver and gold is volatile. Several websites sell one ounce of silver, for example, but the USD price is up or down throughout the day. This is a known fact among buyers of silver. We buy silver and the price in USD is up or down by the end of the day. When we receive the actual 1 ounce of silver, we "VALUE THE SILVER", we do not consider the current USD price of it.
My suggestion for a store or service that wants to price products in SBD is that they must "VALUE THE SBD". It does not matter the USD price of it.
Edit: I am suggesting to look at silver selling websites as an example. They are selling a product where the prices rise and fall based on the relative value between the product and the currency.
Overall, I do not think a change is needed.
We NEED to "VALUE THE SBD" !! !! !!