I read 
Based on the article, I've learned a few things about how the Steem community is reacting to this new development. According to my source, there are many advocates including those on Steemit and our Steem witnesses that we must alter the system and bring metrics back to 1USD / 1SBD.
But lets be honest, what kind of message does that send? We need to incentivize people to join the social network, not push them away. What if I turned around and told everyone holding BTC that the price has gone too high, I've just made it worth 1$ so that people can buy in. I don't think that would go down to well now eh?
According to
The Options
"Get rid of the SBD" - Literally stop having them be an option... hard to implement given that 3.6M are already outstanding, but it would make Steem and Steem power the only things on the platform.
Market tampering and radical changes in a mature platform rarely work out well. Getting rid of SBD would be an extremely bad move in my opinion.
"Print more SBDs" - Do things like allow 75% payout in SBD or witness production rewards in sbd. This should lower the price by increasing the supply. Neat ideas, but this also adds more SBD, which is a debt instrument to the platform and could have negative consequences down the road.
This idea although not the worst one I've heard leads to inflation and could ultimately ruin the platform. However, if tampering must be done, this would be the option I would prefer.
"Let SBD be converted back into Steem" - this is probably the most popular option and it would allow a direct conversion of steem into SBD, which would allow Steem the ability to capture the rise in SBD price. I'm against this because I want the value going to the posters as opposed to the historic owners of steem power.
As far as I understand it this means setting SBD and Steem at a 1 to 1 ratio. It would be as if I set Bitcoin Cash equal to Bitcoin. I think this is a credibility killer, if someone wants to destroy the platform I'd say this plan would get the job done quickly and efficiently. Please don't do this guys..
Further Exploration
According to
Many invested in Steem have made a long term investment powering up their Steem in exchange for Steem Power. We all want our accounts to rise in terms of USD but as
According to him 93% of the steem is in less than 1% of the accounts. It makes feudalism look like socialism and is not a good distribution. He goes on to state that the metrics above relate to the distribution of Steem, not distribution of SBDs.
SBDs are tied to author rewards more than historic Steem ownership and so the distribution of those can be approximated to this graph.
That graph doesn't quite show the whole story as it doesn't really show how many of those post rewards are created by the bid bots and that money then flows back to the primary steem holders, but it's one of the best representations that I have available. And it'll have to do. Bid bots are only about 5% of the SP so that graph doesn't quite show that
and
and maybe a few others are getting fat paychecks from this, but at least we know that it's not 25 accounts that earn it all on post rewards.
He makes a good point here. Its very possible if not extremely likely that this SBD rise in price is an opportunity for many to get a better stake in terms of their Steem Power. If you convert your SBD posting rewards to Steem and then power up, you may find yourself a bit closer in terms of rewards to the whales that run the place...
The Proposal
@Aggroed suggests a radical proposition, one that after reading his article I am also convinced is the best course of action, that is to do nothing... Simply HODL.
He suggests that the price of SBD will continue rising due to the very limited number of 3.6M tokens in circulation which also correlate to very low inflation. He also argues that the price of SBD is going to continue to rise exponentially if we don't make changes but that's not a bad thing! He argues that it will have an end result of helping the Steem community grow and that one day you may even be able to buy a house with 10k SBD, a nice house.
So there you have it folks... Just don't mess with a good thing if you don't have to.
I'd like to get my reader's opinions on this... What should be done about this insanely high SBD price? What strategy would be best for the overall community?
Thanks for dropping by!
Source:
The benefits of inaction: a defense of a high SBD. - Aggroed
https://steemit.com/sbd/@aggroed/the-benefits-of-inaction-a-defense-of-a-high-sbd
Image Source: