I was using your words. Is there something that does not use the price from the exchanges? Something that adds a discount or premium? I really don't know how it works but I remember people discussing a change to the price feeds when it traded at a large discount last fall.
I got confused by the "added last fall" part. The price feed bias is determined by the witnesses, so it's not something that is part of the blockchain itself. You can see the biases here under the "bias" column: https://steemd.com/witnesses
If most of the those are 0, then the price of Steem as far as the blockchain is concerned will be the same as the price on exchanges. I don't know the specific mechanics off hand as to how many are need to adjust the price feed, but right now it doesn't matter since few if any are using a bias.
I was using your words. Is there something that does not use the price from the exchanges? Something that adds a discount or premium? I really don't know how it works but I remember people discussing a change to the price feeds when it traded at a large discount last fall.
I got confused by the "added last fall" part. The price feed bias is determined by the witnesses, so it's not something that is part of the blockchain itself. You can see the biases here under the "bias" column: https://steemd.com/witnesses
If most of the those are 0, then the price of Steem as far as the blockchain is concerned will be the same as the price on exchanges. I don't know the specific mechanics off hand as to how many are need to adjust the price feed, but right now it doesn't matter since few if any are using a bias.