Community post
SBD is useless
So The purpose of SBD was for it to maintain a peg at $1 right? well it hasnt spent much time in that rage in the past two years. To me it looks like an impossibility, how can a peg be maintained with a speculative asset? SBD is backed by NOTHING but Steem so the value almost directly correlates with the value of steem. This means that a PEG is set to STEEM and not THE DOLLAR. it is a complete failure of the stablecoin concept and has really been part of why folks are leaving this platform. aside from it being a complete cesspoll!
Steemit will rise again as the speculators return in the next boom cycle but i personally thing eventually this platform will go the way of myspace. Hopefully it isnt lost in this years altcoin massacre.
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