The price hasnt dropped 30% but the value of the vote i give has.
The value of the votes i get are down an equal amount.
I smell a whale decimating everybody else with their advantage in the math.
What else could it be?
It sure isnt the vote bot at the top of trending.
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It might be the debt ratio. They are paying out some Steem instead of SBD but the Steem comes out of the reward pool.
It all comes out of the pool, normally it is converted to sbd, but the debt ratio is too high so it pays in steem.
I like steem better, it has an upside, sbd should trade +/- 10% of 1usd.
Sbd has no upside atp.
It seems to me like things could get even worse. Just think if the debt ratio gets triggered more and SBD falls below 1. #disaster. lol I'm very bullish on this platform long term but the short term does not look very good.
im definitely not tripping if it falls below 1 and we get liquid steem
I think we'd be getting about the same Steem but with no SBD.
What the hell is the debt-ratio?
Lol.
Sbd is a promise to pay 1usd of steem at a future time.
It is a debt instrument.
For every steem dollar we owe one dollar's worth of steem to its holder.
In a rising market this is no problem
We pay less steem to equal that dollar.
In a falling market we have to pay more steem to equal that one dollar.
The system is designed to issue all rewards as sbd until the sbd to steem ratio exceedes 2%.
At 2% the system starts paying in steem instead of sbd to reduce the debt load and danger of default.
At 10% all rewards are paid in steem.
Over 10% and the system wont pay one dollar of steem, it defaults, but linearly in percentages.
Currently the debt ratio excedes 2% and we are getting paid partially in steem.
What does this mean for the average user?
Nothing really.
Just an oppurtunity to power up work earned steem.
The sky doesnt fall unless witnesses start to bail, or you bought at the top.
As long as you are here long term, lows are just buying opportunities, and steem paid as rewards means you dont have to bother trading internally to power up.
More or less I understand. Steem is ordinary shares, while SBDs are preferred shares.
https://steemit.com/steem/@timcliff/i-submitted-my-first-hardfork-pull-request-to-the-steem-blockchain-updates-to-the-sbd-print-rate
This explains it some.
I don't know what goes on behind the scenes, but there was talk recently about the debt ratio and solutions put forward...
The more they seem to fuck with the code, the more it seems we get less value for our time and effort here...An extremely frustrating set of circumstances; especially for us poor folk...
This has been the code all along, the price has dropped and i still think the top is sucking up more.
The more large votes there are the less other votes are worth.
Probably the reason is that the three day average is $2.34, down from way over $3.00, that has the vote value down a lot and also the account value is way down.
Hmmm, this is what seat of the pants flying gets me.
Maybe your ifr is right, i didnt really see any egregious outliers in the quick look i took.
Today steem is down by -4.34% ... My VP just dropped by 25%...??? Do you ever get the feeling you're being 'played'????
The price is down alot over the last week.
And yes, played.
Did you see the smt video @ned put out?
They wont be ready for months and come with built in racism.
I'll put in my two cents (both literally and figuratively).
Lol.
Gotta pay that.
Welcome to the world of cryptocurrency. Where pyramid structure prevails. This isn't an argument against blockchain or alternative currency though.
I'm gonna start posting on medium, and I'm playing with some mutual credit
Were we to keep working, but stop paying, we could short circuit this bankster dystopia on any given tuesday.
If you want to get paid in eth for blogging, minds.com is in the testnet with their coin.
You can start earning now for when it goes live.
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