There are plenty of conversions going on eliminating supply, with reduced supply the price has been pushed back up.
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There are plenty of conversions going on eliminating supply, with reduced supply the price has been pushed back up.
what is the current algorithm for SBD creation?
It's created at 100% issuance rate when it's below 9% of the virtual market cap. Between 9% and 10% it drops off from 100% to 1%. Above 10% it's supposed to be 0% although I'm not sure if it's actually 0 or just a trivially small amount.
Either way, more SBD is being destroyed than created right now. We're down to only 9.3 million SBD, from over 20 million IIRC. As a result SBD is currently deflationary but it means Steem is highly inflationary by consequence.
thx for your thoughts