Well, it seems the market has been exceptionally cruel to us lately. #STEEM has tanked hard this week, and SBD is following suit. Having the SBD Print Rate threshold all the way up at 9% - 10%, right next to the dreaded "haircut" zone above 10% all of a sudden is going to be biting us hard, with the debt ratio cruising past 9% and soon to be sitting at around 11% and climbing when the price feed catches up to the market rates.

To add insult to injury, the SBD price has fallen off the peg, meaning there is no "safe haven" on the platform, and there seems to be no witness intervention to adjust price feed biases to help bring SBD back to $1 (which is what the whitepaper suggests is one of their primary roles in setting price feeds). Have we lost confidence in the peg being enforceable? Have the Witnesses just taken the "It will pass" approach, allowing them to sit back and do nothing?

Another question I have is this: If the $1 SBD peg is not enforceable with the tools witnesses have at hand, is there any point in having SBD at all? We may as well just have STEEM and SP, which funnily enough is what we'll be having in our rewards again very soon. I'm a fan of STEEM and SP as rewards, and don't mind seeing that at all. STEEM is as functional as SBD, except SBD is supposed to be at a stable price, which is isn't. Again... so why even have it if it cannot be enforced?

Want SBD to go to the moon? Stop producing SBD for ever, and scrap conversions... What is already on the platform will stay, and could quite likely become like crypto diamonds!

Just a thought....

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