wow, do you guys know why steem dollar is like that now? I thought its always backed by steem inflation?
Not always. Total value of steem dollars is capped at 10% of total STEEM market value, to prevent the system from being overtaken by steem dollar holders. That said, peg is less important in this case. Politics.
I'll agree with Abit and Thom here and add following:
- Supporting payments/fees in BTS is actually one and unique thing about this ecosystem. Changing it just brings us closer to EOS and Steem isues with SBD, RAM and CPU and other dodgy algorythms. Currently it shows how Consensus workers/witnesses are greatest supporters of the Blockchain, regardless of its price and conditions.
- BitUSD is in Global Settlement and it has to be revived. Instead of looking for quick alternatives just to get back on real price of income/fees is changing entire concept of how blockchain works and demanding more development before it happens - sounds really like just another Steem Dollar variant.
- BitUSD has to be introduced to the world, legalized and Witnesses needs to do better and more aligned job about pricefeeds in the future. (it lacks on listings for long time, presentation and proper introduction - we dont need a new one)
- Stake-holders and debt owners needs to learn to keep 30% 30% 30% in debt/trading/back, not just throwing all-in like this is a poker game.
Hope my reply was reasonable enough and hopefully you will put your minds more in current situations that needs to SOLVED and not REPLACED with another potential problem.
CheeĀ®s