Hi Guys,
So we've got yet another in recent days SBD pump - now beyond 3 US Dollars. There has been a lot of discussion whether this is a beneficial for steem ecosystem or not but SBD was always supposed to be worth 1 USD - or as close as possible.
One of the ways to decrease value of a asset is to increase the supply of it. Currently because the Steem is worth more than 1 USD, the Steem Dollars are created at increased rate - but it seems that it's not enough.
So, I've noticed that the Witnesses have something interesting at disposal - the Bias variable. You can see it here:
https://steemd.com/witnesses
As I understand, the positive Bias variable increases the "production" of SBD at the cost of less Steem. So it seems that it's an easy way to increase SBD supply. Yet, all Witnesses are reporting Bias at 0%. Is there something I am missing here?:)