SBD Supply/Market Cap >= 10% => SBD no longer paying out conversions in full.
Feed is at a slightly lower price than last time we were in haircut because a fair bit of SBD was converted during that period.
A few weeks ago I had a brief interaction with @timcliff about the SBD inflation. Back then there was 12.5 million SBD left over which would convert to 31 million Steem. Today 2 million of that SBD has been converted, there's only 10.5 million SBD remaining, but the smaller amount of SBD will convert to a larger amount of Steem! Almost 33 million Virtual Steem outstanding, after about 6 million Steem was created from conversions.
It is back news for all. Hopefully again rewards convert in sbd. Sbd price is almost stable and steem price is to much low in these day.
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Although related, this post is about conversions not post rewards. It is the same 10% threshold, but I am pointing out that at this point SBD is no longer fully backed by $1 worth of Steem. It's less than $1 of Steem per SBD now.
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I was disappointed to see my rewards earning back to steem. And I hope the SBD returns back quickly
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That didn't take long.
Is there a chance this could happen repeatedly for a time?
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I think this is a likely scenario, yes.
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Seems like it could be like a ceiling, with a clear break above being a positive signal.
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It definitely isn't working so well unless the goal is to increase the inflation rate and get more Steem in circulation.
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If inflation is the goal, we're right on target...
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That is some move!
I'm currently holding as much liquid STEEM as i ever have, but don't think i am to blame for that surge :)
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The liquid Steem is affected by power downs. Overall inflation has curved significantly upwards though.
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Right. Well I think we can work out which account has caused the sharp increase in liquid. And by the sounds of it, the amount will continue to rise.
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I noticed that SBD is no longer being paid out too...well at least in sizeable amount. I was excited to see it back though but then, we wait again.
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The future looks really bright with steem.
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