It's been 5 days since the STEEM price surged, and the higher price has been retaining. So, I've been wondering why the author rewards rather decreeasing.
I've been talking about this issue with some users. A user said that it could take more time due to the reflection of the STEEM feed price provided by STEEM witnesses. Nevertheless, it's weird.
To print SBD again, the SBD(STEEM Dollars) market capitalization(hereinafter, cap) on the STEEM blockchain needs to be less than 10% of the STEEM market cap.
Now, the STEEM price is around $0.27. So, the STEEM market cap is around $120,683,445. Therefore, 10% of the STEEM makret cap is $12,068,345. You know, SBD is regarded in $1 on the STEEM blockchain, which means the SBD market cap on the STEEM blockchain is $12,521,761.
$12,521,761 is higher than $12,068,345. So, I think we are about to see printing SBD again soon, if the STEEM price keeps more than $0.28 🙏
@happycapital it's because of the price of the steem is moving upward the author reward decreases. Apart from that steem base price is set to 0.252. If the price of the steem is at 0.20. Our author coverservion will be at 0.252 so it's a loss of 0.052 per steem.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for sharing this information! It's important to stay informed about the dynamics of Steem's price. As the price of Steem rises, the author rewards may indeed decrease as a percentage, but this can be balanced by the potential for increased value in the long run.
Regarding the base price being set at 0.252, it's essential to be aware of these details, as they can impact our earnings. However, it's all part of the cryptocurrency world, where prices can fluctuate. Keeping an eye on these changes and adjusting our strategies accordingly can help us navigate the platform more effectively. Your insight is valuable for the community, and it's great to see you sharing this knowledge! 👍💰 #StayInformed
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Upvoted! Thank you for supporting witness @jswit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I would love to know more about whether or not SBD rewards might show up soon, it would be awesome!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Now, the price dropped to 0.21, so are we seeing SBD still? !thumbup
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hello @happycapital! You are Splendid!
command: !thumbup is powered by witness @justyy and his contributions are: https://steemyy.com
More commands are coming!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm also hoping the printing of sbd starts soon though the dynamics you mentioned are kind of confusing to me. Thanks for sharing @happycapital
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi @happycapital, having been looking at this precise dynamic for a long time now, there are a few things that are a little bit strange about the price feeds.
If I'm not mistaken, when everything is working, the price feed used to reflect rewards is supposed to be the average indication by the top 20 witnesses, calculated as the mean of the past five days. So if Steem shoots up for just ONE day, it doesn't get reflected till several days later.
But crunching the numbers suggests that not everything is working quite as intended. The actual number you see next to the number of votes actually includes the TRX value you will earn, as well... so when the post actually pays out the Steem/SP portion is less than you would think. Of course, I'm not convinced the code has been adjusted to reflect the most recent update in which the Tron Foundation now only rewards 25% of the Steem value, as TRX... I think it's still set to 1-for-1. So that skews the figures, as well.
Finally — and I'm not 100% sure on this — whereas the witness price feeds are correctly used to calculate rewards at the moment of payout, I'm not convinced that the dynamic price feed used in the code is working properly anymore; I think it has been stuck at a fixed rate that actually has been overstating earnings for a while, while the price of Steem has been in this bear market. The reason I say this is that some of the folks who do "Daily Steem Price Updates" have been displaying the same price for a really long time, even though we know the market price fluctuates.
It would be nice if @steemitblog could come back with a comment from someone who actually knows what's happening; or maybe we could hear from @justyy, @steemchiller, @dev.supporters or one of the other witnesses?
If the bear market truly is about to come to an end, it would be important to have "the house in order" for a potential inflow of new users!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@denmarkguy I just want to correct little bit , it's three days mean the base price should reflect not five days. And the base price is fixed to 0.252, I don't don't why but is fixed with the code.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
keep going
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It's hard to guess.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit