Coinmarketcap API seems overloaded today, so the charts may look borked. If the call to CMC fails, I put a default of $0.1 for SBD / STEEM, so the page doesn't throw ugly errors. The downside of this (temporary) workaround is the calculations are off.
I'm working on a cache layer and possibly querying multiple sources to get past this, will post when it's ready. Until then, if you see SBD / Steem values at $0.1 just know the CMC call failed. The blockchain values are correct, it's just the conversions to USD which are screwed.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
It is facing this issue from yesterday. You are enough intelligent to solve it soon.I Wish it get back in hours
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Right now it works for me, probably the load on CMC is lower. I'll post an update when a better fix is in place. Thanks for the feedback.
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Forgive me for my ignorance, but how do the economics behind Steem work? If we keep generating more Steam from posts, doesn't that just push the price down? I understand there's a lot more to it than that, but where exactly does Steem gain its value.
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Very briefly put: the STEEM currency has a fixed inflation rate. Every day there are around 43.000 new STEEM printed, and this amount is called "the reward pool". Out of it, around 75% goes to authors (the rest goes to witnesses, those who are maintaining witness nodes, which are validating transactions).
The more Steem Power you have, the bigger the amount you "draw" from the reward pool when you vote. That's from where you get money when you get votes: the voter, based on his influence, "draws" from the reward pool.
As for which pushes the price up or down, the discussion is way more complex than that. It's not only the value of the website which is taken into account, but also the blockchain characteristics (no transaction fees, very small transaction times, fungibility, etc). So the economics behind Steem are quite complex.
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That was just the response I was looking for. Thank you!
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Very good question @dissuade . Thank you for a great explanation @dragosroua . I have considered this too @dissuade . But hopefully as the amount of steem is increased the popularity of steemit rises. Ultimately, the price is determined but what people are willing to pay. Consider how most Steem are locked up in Steempower. That keeps the value high. Just my opinion.
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Very interesting! Was trying to get some of those graphs yesterday but now i know why it wasn't working.
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no idea what any of what you said MEANS.
but I really like your ap.
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Thank you :)
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Using your tricks 'n tip to load up on Steem Power again today! Thank you good sir @dragosroua !!
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You're welcome :)
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So cool post.... i like
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nice post.
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