I am back
I had a job to do in the countryside.
I had flaky Internet and generally little time to follow Steem or even vote.
After being away for a while, I find it hard to get into writing again.
SBD Peg
There are a few ways to stabilize 1 SBD around 1 USD.
Witnesses can passively influence the supply according to the demand.
- SBD are only created through Posting Rewards.
If the price is too high, witnesses can change a parameter that will cause more SBD to be distributed via Posting Rewards (bias).
If the price is too low, some SBD need to be taken off the market.
SBD can always be burned to promote a post - few people do that.
The main function to 'burn' the SBD is the 'conversion function' in the STEEM wallet. ( On Steemit.com, it is deactivated. )
If you choose to convert, your SBD will be changed for the average STEEM price over the next week - in USD;
For 1 SBD you will get 1 USD worth of STEEM.
Since the SBD has been below 1$ for a while, I kept wondering, why I do not read much about SBD conversion ...
https://steemd.com/tx/bbf059a32988c4bd1be372b03b9bb46d5c414184
.... so I tried it out and will report back in a week.
( STEEM price at the moment: ~$0.9 USD )
Why is this not more popular ?
Am I missing something ?
Should I run a script to see, who even uses SBD conversion these days ?
Go through the chain history and make some nice graphics ?