Lots of people have the need for a stable currency. SBD was just that. But since the supply was so small, it got easily pumped by few and the herd of dumb money followed. Most of these people might not be even aware of what's the value of SBD is. I've seen many who are calling for an increase in the supply of SBD. I can understand where they are coming from. STEEM is volatile and SBD was supposed to be a trustworthy fully backed USD alternative.
Some people needs to see the price back at the actual value. As a Free Market advocate I'm opposed to doing anything regarding the situation. 1 SBD can be converted into 1 USD worth STEEM. It's much like the original USD which was a claim on 1/20th of an ounce of Gold. If the market is willing to pay more, Let it pay more. There is no Aggression happening.It's not breaking apart steemit or STEEM. It's actually good for the people who had few SBD in their accounts. It will even lead many people to convert their SBD into STEEM Power making them even more invested in the platform.
All you need to understand is that SBD only worths 1 USD at the end of the day. People in Valenzuela pay massive premiums for USD. People in Zimbabwe are buying BTC at almost 50% higher prices. There really is no harm done in these activities. 1 SBD is still just 1 USD. Some people are just overpaying for it.
Market will take care of things as long as NAP(Non-Aggression Principle) is upheld. Just change the way you look at the world. Price and value are different things. The worth of SBD is as still what it used to be. None of that has changed. The scenario isn't any different from USDT going for $1.01
It happens. On SBD it was just a bigger happening.
