Viewing a response to: @inventor16/re-smooth-re-stackin-sbd-is-usd0-58-is-steem-back-dollars-dead-20181207t224546535z
No change was made to the SBD supply until after its price had already returned to $1. It was discussed but there was never consensus to take action. It was the pump itself which created the oversupply, not the later changes (even with the incremental supply from the code change subtracted out, we are still in the haircut zone now). Also your theory of pointing fingers at Steem whales doesn't explain why BitUSD reached its 'global settlement' at almost the exactly the same time that SBD reached its 'haircut'. In fact these systems have limits which recent extreme bearish conditions in crypto markets have reached. They are designed (we at least hope) to bend and recover rather than completely break. There are _many_ things about Steem which don't work well or at all, starting with the flagship feature of rewarding content/contributions. This is all a work in progress, and improvements have been and will continue to be made. Many of us believe that SBD has enormous potential and is deserving of the same sorts of efforts to improve it rather than removing it (for which no known viable method to do so exists anyway).
post_id | 67,135,077 |
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author | smooth |
permlink | re-inventor16-re-smooth-re-stackin-sbd-is-usd0-58-is-steem-back-dollars-dead-20181208t005132400z |
category | charlesfuchs |
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chrisrice | 0 | 5,281,666,953 | 100% |
Why was the SBD supply increasing so fast last year when the prices were high? I was watching the supply go up super fast. I assumed it was the witnesses changing some settings to try and get SBD to go back to 1 by issuing more SBD's. There's really no need for SBD. We can just use a calculator to calculate the amount of Steem needed for any given transaction, just like all the bitcoin merchants do. Also there are already stable coins that actually hold a peg out there like TrueUSD, why not just use those?
post_id | 67,136,589 |
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author | inventor16 |
permlink | re-smooth-re-inventor16-re-smooth-re-stackin-sbd-is-usd0-58-is-steem-back-dollars-dead-20181208t015636984z |
category | charlesfuchs |
json_metadata | {"app":"steemit\/0.1","tags":["charlesfuchs"]} |
created | 2018-12-08 01:56:36 |
last_update | 2018-12-08 01:56:36 |
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root_title | "✴️ SBD IS $0.58! IS STEEM BACK DOLLARS DEAD? ☠️ ☠️ ☠️" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 SBD |
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author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
penghuren | 0 | 539,740,044 | 8% |
> Why was the SBD supply increasing so fast last year when the prices were high? I was watching the supply go up super fast. I assumed it was the witnesses changing some settings to try and get SBD to go back to 1 by issuing more SBD's. There were no witness setting changes whatsoever. A couple of witnesses did attempt to do so but all witness settings are subject to a vote (or median function in the case of price inputs) and it takes more than two witnesses to make any difference. The high rate of supply growth was a function of the high price of STEEM (so large reward pool) coupled with SBD being overvalued. Normally (when SBD is priced about $1), there is a dynamic balance bewteen SBD being printed and SBD being destroyed by conversions. However, when SBD is way overvalued no sane person does conversions so the supply just builds up. > Also there are already stable coins that actually hold a peg out there like TrueUSD, why not just use those? Those coins have counterparty risk and have 'features' which enable the custodian to freeze your coins. They also require using other blockchains with inferior scalability and the need to pay transaction fees in another coin (so if you want to buy some TUSD, you also have to buy ETH just to pay fees). The former is a different tradeoff (meaning there is room for both) and the latter is just a product with a much worse user experience.
post_id | 67,136,718 |
---|---|
author | smooth |
permlink | re-inventor16-re-smooth-re-inventor16-re-smooth-re-stackin-sbd-is-usd0-58-is-steem-back-dollars-dead-20181208t020224900z |
category | charlesfuchs |
json_metadata | {"app":"steemit\/0.1","tags":["charlesfuchs"]} |
created | 2018-12-08 02:02:27 |
last_update | 2018-12-08 02:26:09 |
depth | 5 |
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root_title | "✴️ SBD IS $0.58! IS STEEM BACK DOLLARS DEAD? ☠️ ☠️ ☠️" |
beneficiaries | [] |
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voter | weight | wgt% | rshares | pct | time |
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inventor16 | 0 | 41,292,740,878 | 100% | ||
chrisrice | 0 | 5,180,034,575 | 100% |
Why not just use a calculator like the bitcoin merchants do? Also what is your discord name, i didn't find you under smooth.
post_id | 67,137,020 |
---|---|
author | inventor16 |
permlink | re-smooth-re-inventor16-re-smooth-re-inventor16-re-smooth-re-stackin-sbd-is-usd0-58-is-steem-back-dollars-dead-20181208t021402345z |
category | charlesfuchs |
json_metadata | {"app":"steemit\/0.1","tags":["charlesfuchs"]} |
created | 2018-12-08 02:14:00 |
last_update | 2018-12-08 02:14:00 |
depth | 6 |
children | 3 |
net_rshares | 565,174,033 |
last_payout | 2018-12-15 02:14:00 |
cashout_time | 1969-12-31 23:59:59 |
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root_title | "✴️ SBD IS $0.58! IS STEEM BACK DOLLARS DEAD? ☠️ ☠️ ☠️" |
beneficiaries | [] |
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cheneats | 0 | 509,252,467 | 1.8% | ||
chillibeans | 0 | 55,921,566 | 2% |