It reflects the ideas from two people, abit and yourself. Certainly not "the community" nor "the team".
not sure which core team member other than abit support this, but at least 5 committee members support this.
It destroys the value proposition of our smartcoins. What else is a smartcoin good for? Who is ever going to believe that 1 bitCNY = 1 CNY if you decide to break the peg in order to protect the interests of speculators, using the voting power of these speculators?
Detroying credibility of our smartcoins will have a devastating effect on the entire BitShares ecosystem.
Yes, this action bring partial and temporary harm to smartcoin, but we focus on global and long term issues.
smartcoin is not a perfectly designed concept, maybe mathematically it can support itself, but the key point in economy is people's behavior, when you review it economically, you'll find many flaws inside it, that's why we push continuous update on it.
one key point is, it is not a right way to pay any cost to maintain the stability of smartcoin.
we have thought GS is a good design, but now most of the community support GS protection.
maybe the "threshold of feed price" is another big change to smartcoin design, we need to face it, not to blame it or try to kill it.