Hello @aggroed, thank you for this well written post explaining the current situation with SBD. I agree on all points regarding the benefits of not changing anything with SBD at this point in time. 

This spike in price should indeed bring many new users to the platform, and will spur adoption on the platform.

Once the platform develops and matures, I think the free market will balance the price of SBD anyway. And if SBD (deflationary) becomes the holding currency and Steem (inflationary) the spending one, I am fine with that as well. I do not think many are hoarding Steem. Most convert their Steem to SP anyways to earn and give even more SBD for each upvote!

Keeping a peg on a currency is no easy task in a free market with supply/demand forces at play. Even Tether prints a ton of new Tether just to be able to keep the price relatively close to $1 USD. But that is a topic for another post all together.

Steemit Inc. should focus on building a great blogging and social media platform. The economy that will grow upon the platform has to remain free, so I think the free market should set the price of SBD and Steem, and a the only peg that is needed is to guarantee the minimum conversion of 1 SBD = $1 worth of Steem.

For merchants on Steemit, there should be a way for them to set a price in USD, and the users have an option to pay in Steem or SBD. Hence a volume weighted average price of Steem and SBD across all major exchanges should be tracked and part of the conversion calculation. In this scenario, a peg would no longer be required.

Please let me know what you think.