Moments ago I reached the 77 reputation.
And even though it's not as special anymore as it used to be I'm still proud of it.
It took me 2,5 years of hard work to reach.
To celebrate I opened a bottle of wine and I bought some STEEM.
Today was a good day really.
I had a question answered that was bothering me for a while (SBD conversions) and as it turns out it is not as bad as I thought it could be.
The outstanding SBD (12 million) will only ever be turned in MAX ~30 million STEEM and not the hundreds of millions I was fearing.
It's a relief.
I have started to make it a habit to just ask the community when I have concerns and don't know for sure if I'm right and it's by far the best way to get the answers you seek.
I don't mind being wrong as long as the blockchain is alright.
And by asking questions maybe I'm also answering questions others have.
So if you are reading this and like this in a witness. Please consider my witness group @blockbrothers for a vote.
We are also very transparent about our witness votes.
We recently added these witnesses to our list for the hard work they do for the blockchain.
| Witness | Reasoning |
|---|---|
| @stoodkev | for his work on Keychain and SteemPlus |
| @steempress | for their work on Steempress |
| @wise-team | for their work on Engrave |
| @fulltimegeek | For his work on Vaporchain |
| @partiko | For their work on the Partiko app |
| @anyx | For his work on optimizing full nodes |
If you like these witness choices you might like the other witnesses we vote for. see this list.
If you do, you could also consider @blockbrothers as your witness voting proxy.
That means that we can vote on witnesses in your name. So not on posts or anything else on the blockchain. Just witnesses.
We never change these votes before posting about it in advance on our @blockbrothers blog.
You can set us as a proxy here:
Set blockbrothers as your proxy via SteemConnect
Today's help came from these witnesses.
here so consider them for a vote!Today I had great help from @therealwolf, @yabapmatt and @oflyhigh on my question
(we know what we are doing) so you will also vote for them if you set us as your proxy.@blockbrothers of course already votes for them
Set blockbrothers as your proxy via SteemConnect
Ok and now it's time for 1 more glass of wine!
I am part of witness @blockbrothers.
Please consider us for your witness vote if you think we deserve it here:
Vote for @blockbrothers via SteemConnect
Set blockbrothers as your proxy via SteemConnect
We are the creators of Steemify a notification app for your Steemit account for iOS.
Get it Here:
Mark, congratulations. It is quite an accomplishment. How many are there with reputation 77? Probably not much. Enjoy your wine, you deserve it.
Thanks, mom! There are currently 17 accounts with a rep of 77 or more.
The wine is delicious. Next week I'm going to be the night time t taxi driver again to pick up Bianca after midnight from her job so all the good stuff will be out the window :)
Reaching 77 Rep level is not an easy task! It needs real dedication and votes from big whales! You got both and made this great milestone! Congratz!@exyle,
Cheers~
Congratulations :D I know how it feels! Actually when you reach the reputation score of 60 everything slows down. Keep up the good work!
Yeah every Rep lvl is harder to reach than the previous one.
77 is pretty amazing! Congrats to you!
Thank you!
77 only 17 well 7 must be your lucky number. CONGRATS
Congrats on the milestone! Well deserved as you continue to provide the community with great guidance and answers with the resources you have access to. Thanks for your continued efforts!
Posted using Partiko iOS
Thanks, man!
I'll be happy when I just get to 60. I think I'm a long time away from anywhere close to 77. Hoping for a last-minute holiday crypto bounce!
Your are currently well over halfway @ 59.68! Keep it up!
Enjoy your reputation and proud that you are leading by example.
One day I will get there
Keep on postin
Posted using Partiko iOS
Thanks man!
Reputation is a bit tainted by vote buying these days. I'm happy to let mine creep up more naturally. I had an idea that it could be re-jigged so that repeat votes from big accounts have diminishing influence on rep, but I expect that's a low priority for the developers.
It probably is for them. I managed to get mine up naturally. Having more SP helps though so there is always that. Still I'm happy with it.
Congrats on achievements!!!
If any more questions bother you in the future, below is the answer to them all. :)
I like Steemify and use it all the time. Sometimes it stops working though.
Haha! Love it! Glad you like Steemify. It does stop working sometimes. That's usually when changes are made somewhere on the blockchain and we have to adjust it on our end.
Thanks for your vote for @blockbrothers, we did see that one come in on Steemify!
That 77 is still an achievement and shows commitment! Congrats 😬
Posted using Partiko iOS
Thanks, man! Keep stackin ;)
Can you show me the answer which lead you to this conclusion? By my understanding I don't think it's true.
I thought the SBD market cap was based on the amount it is trading for on the exchanges or in other words the number on coinmarketcap.
It made me worry because the 10% ratio was always really close between the SBD and STEEM marketcap.
But I was wrong. For the blockchain the SBD is always $1 regardless of what it is trading for.
And that realisation changed everything.
DEBT_RATE = SBD_SUPPY / STEEM_MARKET_CAP
I hope this helps.
SBD is treated as $1 when evaluating the virtual market cap but it's not treated as $1 (in effect) when a conversion happens. The virtual market cap sets the lower limit on the price it treats Steem as when doing such a conversion (hence why it's $0.40 now instead of $0.22 or thereabouts based on raw price feed). That protects us if all the SBD was converted at once, but if SBD gets converted in lots (say, 100,000 SBD every 3.5 days), each time it would substantially increase the supply of Steem relative to SBD, which in turn brings the limit lower and lower. Each successive conversion would be creating more Steem per SBD as a result, while excessive new supply adds pressure to the real price of Steem.
First I like to assertion if this is what you mean:
Currently the debt ratio is as follows.
12.5 million SBD / 319 million (virtual amount of STEEM) * $0,21 = 18%
The haircut is in effect and therefor ~$0.40 cents is used.
But if SBD is converted to STEEM this debt ratio can change.
Is that what you mean?
@timcliff replied on my other post. I asked him something similar.
The debt ratio gets fixed at 10% but the effective price at which the chain issues Steem per SBD goes lower as more Steem is created. We have seen it go from $0.42 to $0.41 to $0.40, and if conversions happen in large enough amounts we will see that effective price go lower.
Yes, but that makes sense because the debt ratio should come down with more conversions reducing the haircut a little.
@timcliff replied.
Agreed, it does make sense, but it creates the avenue for inflation that is much higher than the community expects.
Congratulations on the reputation. Well deserved. You “work” very hard for someone who quit his day job.
Thank you! Working hard for Steem is 100% worth it. Even thought it might not look like it in this bear market.
Amazing achievement! You went through the grind from the beginning! 77 is quite a remarkable number!
Thanks man! It's been a journey alright.
Mark @exyle Congratulations you are the BEST Example of Why STEEM is Going to be Just Fine...............
Thanks, man! I do my best.
Thank you so much for mentioning us!
Posted using Partiko Android
No Problem! You guys deserve the vote from @blockbrothers. Partiko is a great app.
congrats man, well deserved. glad you got your answers and you always keep us informed. enjoy the wine!
Thanks, man! The wine is delicious. I'll do my best to keep as many informed as I can.
you always do a great job of it. i certainly have always seen you as a peer to my experience here on steem. 77 is HIGH up there! :) roll on 80 rep! :)
I reached 60 yesterday so I danced all night :))
Posted using Partiko Android
And you should! Congrats on 60!
Is the glass half empty or half full?
Congratulations on your 77 reputation, that is quite an achievement, and yes you should be extremely proud!
Congrats Mark. 77 is so high. Iam still going for 60 here. But you have put in the time and work. Great for you :)
pfft
I thought 72 was the highest. So is 77 the highest? Congratulations.
And thanks for being transparent. btw you have nice eyes.
joy
That's actually a really good question to get answered in my opinion. I haven't ever asked it before but since you pointed it out, it's great information to know. Otherwise, you'd continue sitting here thinking that things could get a lot worse.
You also showed something else that's very important, and that's asking the community. The community can ask as a personal library for us. I can't count the number of people here that have some form of knowledge on a subject.
Take care :)
Congrats for the 77 @exyle. It will be a far way for me to go. But I will give my best to reach it too. It took me 4 month to reach 56 and I know it's harder and harder to reach the next level :)
Congratulations @exyle!
/FF
Congrats man. That is awesome.
Posted using Partiko Android
Sbd introduces uncertainty to steem's stated inflation rate. I no longer believe in the single digit inflation narrative. Congrats on hitting 77 by the way.
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Congratulations on reaching new milestone not easy at all to reach there for sure :)
Thanks for sharing this and I am glad that you were able to get your questions answered. The Steem community is really great when it comes to helping others.
CONGRATULATIONS, what an accomplishment! It is steemians lke you who are still here, even in this bear market, who will inspire the rally of the blockchain. Cheers to you, and here's hoping steem will conjure the magic of the past. I became active on steem last April, and have been posting every day since. I've seen peeps power down and become inactive... I continue on because there are more people like you who are committed that inspires me.
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