Sure, working on it but first something else... ;)
RE: @tipU Investing Quick Guide
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@tipU Investing Quick Guide
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Of course you are! :)
Also, so... the only reason I have SBD as an investment rather having bought steem, powered up and delegated is that by sending the sbd to you I lock in the current price if SBD goes down relative to STEEM, and I can withdraw and resubmit if SBD goes up in value relative to STEEM, and thereby lock in the very best possible price. Which is great for me, but seems like it could be a hardship for you/tipu down the line if/when you start actually converting the SBD into SP and then these fluctuations happen and people withdraw because of it.
I.E. you could find yourself in a circumstance where you owe more SBD than you have STEEM that you can buy it with. If STEEM tanks and SBD soars (like it did at one point... 0.14 SBD/STEEM was a beautiful shining moment once.)
I don't know if you've noticed this potential problem, which is all to the advantage of investors, but could be problematic. An easy solution would be that you only offer STEEM refunds or that you only accept STEEM. Or, this can just be part of the risk/reward of both being an investor and running the program. I don't mind the risk, but wanted to make sure you recognize it.
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That is very good point and I have been thinking about it - as long as investors are using @tipU own STEEM POWER -we're good. Actually I have already used part of the invested SBD to buy steem - an investment of 2500 SBD came in, wow. But only part of this one investment was used to buy SP.
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I'm sure you're fine for now, but you're reaching that threshold... If people are paying attention, they'll all put their SBD into @tipu now while it's near the 3 month bottom, and then if SBD rockets, withdraw all at once.
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True, this is very possible scenerio. Do you think I should limit invest option or just focus on informing users?
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As an investor, it will make me sad, but I think it's actually simplest to limit investments. You could also just reduce your exposure to risk, by only allowing some percentage of investments to be in SBD so that even if that hypothetical occurs, you'll be able to cover it.
I dunno, I'm trying to think of a way to preserve the current system, because it benefits me, but you're really taking on all the risk here, and that isn't sustainable.
If we're being utterly sensible, you should only accept investments in STEEM and SP, SBD investments can be accepted, but you'll immediately convert them into STEEM, and then, when you get a refund, they'll get that amount of STEEM back.
What's really silly is that SBD seems to be no longer pinned to the dollar. It was a useful tool while it was. I wonder if we'll eventually return there or if the crypto universe will always remain irrational.
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Solid advice, this might have caused a bank run of sorts in the future.
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Solid advice, this
Might have caused a bank run of
Sorts in the future.
- charitybot
I'm a bot. I detect haiku.
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Aye, and we don't want that :D Already implementing some changes.
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Not that I don't trust you, but if I was someone who was comfortable with sending people SBD like that I already would have!
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@charitybot Rough for those of us who loved that sneaky feature, though. But I'm glad it won't cause @tipu's downfall.
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