Isn't the decrease in liquid STEEM related to the fact that a part of the post rewards is now given in STEEM?
You are viewing a single comment's thread from:
Isn't the decrease in liquid STEEM related to the fact that a part of the post rewards is now given in STEEM?
That would have the opposite impact. It is purely down to the @steemit account powering up large amounts of Steem.
I agree 100%.
It has to do with the amount of SBD in circulation compared to the total market-cap of Steem. I am pretty sure that the rule is if there is more than 10% debt (SBD) compared to the total market-cap, then the system will start paying in Steem to keep the debt ratio down. If the price of Steem goes up, or people convert more SBD into Steem (to the point that it drops back below 10%) then it will go back to paying people in all SBD.
This rule starts to kick in at 2%, but phases in gradually up to I think 10%.
@timcliff @hisnameisolllie thanks a lot for correcting my naive guess :)