SBD is still over $1 but it is slowly getting there.
There is a lot of correlation between STEEM and SBD now so it looks like the people pumping SBD are dried out. I think for users the best thing is to convert to STEEM, that will give good earnings and pull the price down.
My bias is pretty high and tied to the SBD price. This means that (simplified) more SBD gets printed and the price can drop faster. But since I am not that high up in the list and many witnesses disagree with a bias (or just don't know what it does) it does not make a huge difference it the moment.
It is like a government election. You vote on the people who represent the steem network. So if you vote me as a witness, you trust me to make decisions that are good for the network.
This affects new user signups, bandwidth, steem price, SBD interest rate and that the network is stable and free. Witnesses are the ones to decide these things and the gatekeepers who accept/reject updates to the blockchain. So you want to vote witnesses you trust and who you feel make good decisions.
Sure thing:
SBD is still over $1 but it is slowly getting there.
There is a lot of correlation between STEEM and SBD now so it looks like the people pumping SBD are dried out. I think for users the best thing is to convert to STEEM, that will give good earnings and pull the price down.
My bias is pretty high and tied to the SBD price. This means that (simplified) more SBD gets printed and the price can drop faster. But since I am not that high up in the list and many witnesses disagree with a bias (or just don't know what it does) it does not make a huge difference it the moment.
Thanks man. Awesome answer and you have my support.
I'm planning on doing a post tomorrow about the BIAS and SBD. Can I quote you?
Definitely! If you have any more questions, hit me up :)
Your efforts are appreciable and I want to vote you as witness, but I don't know the background of witness system.
It is like a government election. You vote on the people who represent the steem network. So if you vote me as a witness, you trust me to make decisions that are good for the network.
This affects new user signups, bandwidth, steem price, SBD interest rate and that the network is stable and free. Witnesses are the ones to decide these things and the gatekeepers who accept/reject updates to the blockchain. So you want to vote witnesses you trust and who you feel make good decisions.
Thanks for the knowledge sharing of Witness System. Will vote for you.
Have a great day and stay blessed.