So, now that we can decide to have our rewards 100% in Steem Power, how about also to have them entirely in Steem?
Some of us are scraping a living from this, even if we aren't blogging geniuses. The SBD pegging algorithms don't work so well, either. I think SP is great, but I'm not a big fan of Steem Dollars. Unless they work, of course, which would be cool. But until they do, some here, some there, always having to navigate the market or wait for the conversion...
Thankyou @steevc for feedback, I want to clarify better what I want to see:
Right now, rewards accrue in some portion of Steem Power and Steem Dollars. I think Steem Dollars are not working. I think what we need to see is a slider for proportion of SP locked in with rewards, and a checkbox saying pay in Steem dollars, rather than Steem. I know the devs are still tweaking SD, but it does not work. I don't know why, since after all, 50 something black market websites have got hedging to lock in dollars ages ago, and they have to be very careful about how they trade their coins to not make a profile.
It led to some new ideas, for a Steem Financials Topic Post. Be right back.
We can't stop here! This is Whale country!
I doubt that will happen as they want people to have an investment in Steem/Steemit. I know some people could use the cash, but it could cause the price to drop even faster.
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SP has its' own intrinsic value in allowing you to vote, and upranking your weight. I understand the logic of giving the option of 100% SP rewards, this is to try and get minnows to quit before they get any cents. But they need to put an FAQ up to explain it. The site is pretty opaque still. You would not have to explain much to people "Steem Power makes your votes matter more, you can't cash it out instantly, but it earns interest. Steem is liquid. Steem Dollars fill in explanation here because I'm not dumb and I don't see how it's working yet"
Seriously, I have no issue with the 100% SP idea, especially because it is probably sticky like the vote button, and you set it and only change it when you realise you want to. But I want to hold some portion that I say, of SP, versus Steem.
I think the best solution would be a slider. SP vs Steem. Until they make that peg work.
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I am kind of vary when I read that something has "intrinsic value". Yes, it's "nice" to boost your posts, but you still only produce tokens and it does not answer why anyone new who might not even want to boost anything should actually buy Steem (Power) and thus create a market price for the value you might perceive. There has to be "value" in steem/steem power for investors to create a Steem/BTC price of above zero to make this whole thing work imho.
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@lok1
Actually if you look at it, SBD is doing great.
Really, I mean it. Please have a look at my post where I thought it was broken (including response from @dan)
https://steemit.com/steem/@faddat/something-s-wrong-with-sbd
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It's a futures contract. It is working great in the 1 week timeline, sort of. But I should not be able to switch between SBD and Steem within a week. It messes up the whole point of it.
I wanted to post on that thread. IT'S A FUTURES CONTRACT The label is misleading, and unhelpful.
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lol, I am surprised no one has asked to be paid directly in US $ or bitcoin yet... well...
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This is the issue I am pointing at, and I go further into it in my latest post. It is supposed to be a futures contract. Just as Steem Power is a Stock, with a 2 year payout with weekly payments. But if you can just flip between SBD and Steem in moments. then it fails the definition of a Futures Contract.
https://steemit.com/steem/@l0k1/steem-dollars-this-is-a-futures-contract-system-i-think
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