You can always convert it to $1 worth of steem over a 3.5 day average
Is this still enforced on the UI? Ot it's available only via cli_wallet?
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You can always convert it to $1 worth of steem over a 3.5 day average
Is this still enforced on the UI? Ot it's available only via cli_wallet?
steemit.com disabled it so new users who think they get STEEM at market price don't loose 6/7 of their SBD worth. But once SBD goes down again it will be added in that UI.
Just want to drive down the point that steemit.com is not steem :)
Obvious.
With that in mind, I want to stress that the soft peg I'm thinking about "can also be dynamically calculated taking into account various data points: STEEM price, STEEM supply, SBD supply, etc."
The point is not to have it tied to a single variable, the USD, but put more variables in the equation: STEEM supply, SBD supply, etc. I'm sure there can be a formula that will, at some point, hit a soft spot. I'm ready to do some simulations if there is enough interest.
Can you elaborate what you want to change? Currently there will be printed a certain amount of STEEM and an amount of SBD that is amount of steem printed times steem price (if all whoose 50/50).
That means the dept ratio can be controlled with printing. And in this SBD pump, the network started printing more SBD to combat it. But for a functional peg that is too slow. The peg will hold again at some point. But waiting months to do it is too long.
The idea of having 2 assets coupled by a third one (STEEM and SBD, coupled to USD) is interesting. If SBD would be a "first rang citizen", meaning it would be taken into account for the overall inflation of the system (which I understand it isn't) then interesting scenarios can happen.
One of them is "moving" STEEM into SBD, like burning STEEM and creating SBD. In this case, increased supply of SBD = lower price for SBD and decreased supply of STEEM = higher price for STEEM.
A sweet spot can be found for both directions.
Well that is what they are from the beginning. Just no one thought someone would buy a $1 giftcard for $7 ;) so the downwards pressure is pretty easy.
And SBD are part of the inflation. You can either get inflation paid out in SP or in dept SBD.
you mean "debt"?
yeah