Following the latest dip across the entire crypto market, SBD is trading at around $1.3, which means is way close to the peg than it was two weeks ago. So I changed my price feed bias from 25% to 10%. Other witnesses which are still keeping price feeds biases above 100% are: @pharesim, @abit, @reggaemuffin, @liberosist, @ats-witness, @jackmiller and @charlieshrem.
The price feed bias is a blockchain prop which controls the SBD supply, if it's above 100% more SBD is printed, if it's below, less SBD is printed.
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.
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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
If it's 0% then no SBD gets printed? Can witnesses ignore the debt ratio rule?
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@dragosroua , I wrote a post about my Bias and and APR feed.
As you know those of us who are not in the top20 do not have practically any affect on anything. So to say. Well that is the harsh reality of things here. So let's not give any potentially false impressions to people that may suggest we do.
What I said in my posts addressing my BIAS and APR was exactly what you are doing here, trying to demonstrate and explain how they can and SHOULD be used.
So we are in 100% agreement.
However as a non top20 witness I have decided to leave it at where I believe I would like to see it one day along with the addition of an additional interest rate paid exclusively to savings.
I hope this sheds some light on my feed and my figures.
Most importantly what people should understand is that these feeds are TOOLS THAT SHOULD BE USED.
To help peg our SBD to a dollar we shall have in place after HF20 the following tools:
BIAS
Reverse Conversion
Burning Steem.
This is to the best of my knowledge as what to expect as far as a full list of tools available to the TOP20 for pegging the SBD to 1$.
;)
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Or...if more of you non-Top 20 Witnesses would point out that you do this and why, it might actually encourage people to vote for those working towards pegging SBD instead of those who are possibly benefiting from it not being pegged.
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My bias adjusts automatically, currently at 33%
The idea is to use bias as a way to pull SBD back down. And it seems to work. I am looking forward to HF20 stopping the printing on unnecessary additional STEEM when SBD price is above $1.
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How is this implemented? Can you give me some pointers for discussion / implementation?
Thanks!
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Currently there is a floating window, when the debt of SBD reaches I think 2% it starts printing some STEEM instead and at 10% it only prints STEEM. The fix is mostly to kick off that process at higher percentages than 2%.
One tool to view the current ration is http://www.steemreports.com/steem-sbd-info/
The new change proposed is this pr by @timcliff https://github.com/steemit/steem/pull/2503
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Thanks!
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It's going to be interesting to see if it can be kept around a dollar. The market cap is small enough that it can be swung fairly easily. I just see so many people hoping it will go up, but they don't understand what it is for. We had it really good for rewards for a while, but we're getting back to a more realistic situation. At least we're seeing more activity from the Steem team that could indicate something is coming soon. We've had to be very patient
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Unfortunately :(
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It would be great if it would finally stick at $1 this time, allowing us to use it for buying and selling stuff without too much volatility.
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Can i ask you a question? If Sbd is pegged to one dollar, i mean if it reach to one dollar, is there any chance for it to go up again or it will remain at 1 $ for forever?
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It depends on what the market wants. It's gone crazy before and there's limits to how much it can be controlled. It was stable for a long time. Having a fixed value can be good as people will be willing to use it more for buying stuff.
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I'm not a Crypto guy, I'm working here on STeemit to earn some money to support my family, and to do that I'm commenting more to make relations and as a result i'm too earning sbd and steem, A great deal, when i started to use steemit, sbd was around 6.5 $ and I'm holding after that, and now the price comes to this down :( That's kinda scary but i'm 100 percent agree with you, to implement or regulate sbd or Crypto currency in our life, The stability of coin is neccessary.
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It's very unlikely that it will go below $1 though, since you can trade 1 SBD for $1 worth of Steem internally. So at that point it should be safe to hold SBD.
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Hopefully!
Your words are healing my pain sir @valth :)
Thank you
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But keep in mind that there is a small chance that the peg will be broken to go below $1 as well. Most people don't know about this, but according to the whitepaper this can happen during certain debt ratios. However, I think it is very unlikely that this will happen for a while.
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yeah, i'm thinking to convert sbd to steem.
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That might be a good idea. I'm not sure if SBD will increase in value even if Steem does for the next bull run. But then again, anything can happen in the crypto world ;)
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The markets are very volatile. Too many people chasing a quick profit. If we can help steemit grow then steem should go up. You may make a lot more in a year or two.
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To be very honest, I don't know how to trade and how to gain quick profit, I was struggling in my life after doing masters and then steemit comes in my life, My struggle has not finished yet but I can easily say that I am earning some buck for my family and for the expense that is to be done by me :)
yeah, we need steem to go up
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Luckily you don't have to understand trading to use steemit. Just do good stuff here and you can make some extra money. Trading is a form of gambling and I don't do it. I wish you all the best
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Thank you so much @steevc for the wish :)
But You know getting noticed is not easy here :)
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It takes work and that's how it should be. I see you have gained lots of followers. Work with them and build a community around what you do
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SBD changes based on supply and demand. So it can go up and down anytime. The price feed bias is a (slow, but efficient) mechanism to stabilize the price, because it actually increase the token supply, but the market is always right.
As a witness, I support the current architecture of the Steem blockchain, which intends to have a stable currency, SBD (which is useful in e-commerce, for instance) and a variable currency, STEEM.
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So now sbd is reaching to it's stable price which is 1 $,
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Yes
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By the way I really your approach for improving yourself 1 % a day? implementing this in your life can give you better result, I'm going to implement this in my life :)
Thank you so much :)
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Hi @dragosroua
How are you ?
Informative post .
Thank you so much for your information .
Upvote you .
And thanks for sharing @dragosroua
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When SBD reaches $1, we can start buying...
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Is it not the ratio between Steem and SBD that we should be monitoring closely, despite the recent falls inmprice it has hung on at around at 0.75%.
Why cant the witnesses simply manipulate the SBD price down to a dollar then keep control of it whilst leaving the Steem price to the free market ?
And please change its name Steem backed Dollar give it too much of an air of currency and authority which traders seem to love but stops it performing the function it was designed for. Why does it need to be listed on the exchanges anyway ? ..or is there is a possibility Im just talking shit as usual !
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They can't because that would require a hard fork and there was a huge community outcry when that was proposed earlier this year ;)
SBD being on exchanges makes sense so you can actually use it. SBD being valuated above $1 makes not as much sense :)
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clear as mud my old mate lol....I'll just stay away from these deep witness philosophical posts in future and stick to the comparatively more simple things in life....such as chaos theory and the meaning of life....the vagrancies of steem, steem power and sbd are far too complex ;-)
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the prices just keep falling in the pattern seems like some form of cartel manipulations exists in this world
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Crypto is my dream . It'll be exciting to look if it can be stored around a dollar. the market cap is small sufficient that it is able to be swung pretty easily. I simply see so many people hoping it will pass up, however they don't recognize what it's miles for. we had it definitely excellent for rewards for some time, but we're getting again to a more practical situation. Thanks for sharing.
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And this is why i just voted you for witness. Its time that SBD gets pegged to 1$. :)
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hello @dragosroua, this my new post address:
https://steemit.com/challenge30days/@bogere/june-30-days-writing-challenge-life-hacks-parenting-and-what-it-means-in-the-christian-perspective
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Thanks for sharing that update and sbd is almost very close to it peg and where to see this Price Feed data ? any link
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