Hey there, thanks for your passionate thoughts and apologies for the delayed response.
We’re just finally getting caught up on all the channels. You might have seen by now that BNT’s price is not pegged to ETH, they are of course related through the Bancor protocol algorithm but they by no means must track each other. The more usage there is of BNT, the more upward pressure on its price, in addition to the impact from changes in the price of ETH. You are of course welcome to hold the right tokens for your needs. Its worth noting though that BNT is continuously liquid (to ETH, and other tokens in the liquidity network, currently GNO and STX), and often more stable than others thanks to its algorithmically calculated price (which still reflects demand mechanics as per the “free market”.) Regarding fairness, we like the dynamic supply aspect of Smart Tokens as it means there is not scarcity but rather an adaptive supply based on real demand. As smart, ultimately time will tell whether BNT and Bancor’s Decentralized Liquidity Network are a viable and valuable project, we certainly hope so.
You can follow the latest updates on our blog (including the recently launched Web App and first live tokens) and look forward to more spirited debate if you’d like to dig in further: https://blog.bancor.network