RE: Steem Dollar interest rate. Are witnesses asleep at the wheel? by svamiva

Viewing a response to: @fiveboringgames/steem-dollar-interest-rate-are-witnesses-asleep-at-the-wheel

witness · @svamiva · Dec 17 '18

$0.03

I think the main idea behind 0% interest rate is that in the current situation witnesses do want people to *convert* SBD rather then to hold it.

👍 fiveboringgames

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@fiveboringgames · Dec 17 '18

$0.11

That would make sense if the value is above $1 they want people to start selling it but with Itt below $1 they should really be encouraging more people to keep it.

The main problem I see is that when it is above $1 there is no great way to reduce it I think a minus interest rate would be helpful

Posted using [Partiko Android](https://steemit.com/@partiko-android)

👍 bestofreddit, fiveboringgames

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@darth-cryptic · Dec 17 '18

$0.05

Converting SBD isn't the same as selling it or exchanging it for steem. The conversion destroys the SBD, theoretically increasing value via reduced supply.

👍 svamiva, muppetdingdong

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@svamiva · Dec 17 '18

Correct. To bring SBD back to 1 USD we need either Steem price to go up to about 0.4 USD or we'll need to burn about 5 million SBD , redusing the supply from the current 12 million to 7 million.

👍 muppetdingdong

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