I saw more than one post lately in favour of getting rid of the SBD's all together.
With the future of SMT's and businesses in mind I think a safe heaven on the STEEM blockchain in the form of SBD's would be extremely valuable if it can be done.
What is a SBD? (STEEM blockchain dollar):
An SBD is an IOU for 1 USD worth of STEEM.
There is a convert function build into the blockchain where you can always convert 1 SBD for 1 USD worth of STEEM.
This convert function is separate from the Internal Market.
That means that when STEEM is 50 cent you can convert 1 SBD into 2 STEEM.
It also means when STEEM is 2 USD you can convert 1 SBD into 0.5 STEEM.
It's an extremely useful token when it works. A fantastic safe-heaven/hedge against falling crypto prices.
Sadly crypto markets are weird and 1 SBD that is only worth 1 USD of STEEM is trading much higher causing tons of confusion. (max was 17 USD, now 1.25 USD).
It therefor can also not fulfil it's roll as safe-heaven because it will just fall with the rest of the crypto markets.
Back when it was trading high I was not a fan of any peg because it would just piss off a ton of people (from bloggers to traders).
Now however, the SBD is nearing it's intended value (trading atm @ 1,25 USD).
I currently start to look at it again as a safe heaven (it can only max drop 20% while the rest of the markets can still drop way more) and in bearish times it's fantastic to have something like this.
With the future of SMT's in mind I think a safe heaven on the STEEM blockchain would be therefor extremely valuable.
The discussion should take place now. As soon as the markets turn the SBD will go up too and the window is gone.
I talk about it more in my vlog.

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