Powerdown Statistics #6 - March 2nd - March 15th - Virtual Supply of STEEM going down.
Every two weeks or so I like to compare the current power down statistics and see how we stand.
Here they are:
2 March 2019
| STEEM | Amount |
|---|---|
| STEEMPOWER | 200,2 million |
| LIQUID STEEM | 102,4 million |
| SBD | 9,5 million |
15 March 2019
| STEEM | Amount |
|---|---|
| STEEMPOWER | 199,4 million (-0,8 million) |
| LIQUID STEEM | 105,3 million (+2,9 million) |
| SBD | 9 million (-0.5 million) |
The same amount of SBD (0.5 million) has been converted to STEEM as in the 2 weeks before.
I'm really curious to see if this will keep up with SBD trading above a dollar since 3 days. (It's $1,07 while writing this).
With SBD trading above a dollar it just makes more since to sell it on the open market than converting it to $1 worth of STEEM.
You get $0,07 more STEEM per SBD by selling it compared to converting.
But if conversions keep up like they have that would be great.
With the Steem price going up every SBD will be converted into less STEEM.
And you can see it in the Virtual supply of STEEM (the number at the bottom). It's been going down.
The Virtual supply is the number of all current STEEM out there + all the STEEM that would be there if all the SBD would be converted right then and there.
304,780, 603 STEEM = All the STEEM out there (In Steempower and Liquid).
9,023,153 SBD = If you would convert this under the current medium STEEM price feed = 18,155,237 STEEM.
304,780, 603 STEEM + 18,155,237 STEEM = 322,935,840 (Virtual Supply).
It's now also easy to understand why the Virtual Supply goes down when STEEM goes up (because you get less STEEM per SBD)
Example:
If STEEM would be $4 than all the outstanding 9,023,153 SBD would be converted into = 2,255,788 STEEM
And it also explains why the Virtual Supply goes up when STEEM goes down (because you get more STEEM per SBD).
Example:
If STEEM would be $0,40 than all outstanding 9,023,153 SBD would be converted into = 22,557,880 STEEM
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...and I thought the only reason SBD existed was to buy cards in @steemmonsters!
Haha! Well that is also a good reason :)
Only 249 SBD converted yesterday though. And that would have been started before the SBD pump.
https://steemit.com/steemit/@penguinpablo/daily-steem-stats-report-friday-march-15-2019
Cool Stat! Thanks for the link. It makes sense though.
How will this affect the drugwars game? I saw that the payout was like 1200 dollar today
Posted using Partiko Android
I think they only use STEEM. I'm assuming that 1200 dollar value is USD not SBD.
Sadly like I said, I started the conversion on mine before the price went up, so now I am going to be taking a bit of a loss vs. if I had just waited and sold it. It is all getting powered up though, so it isn't a huge deal.
It's not a huge difference indeed but from now on for as long as SBD is trading higher than $1 converting is not recommended.
This makes a great argument for getting rid of SBD
Posted using Partiko iOS
Then I know that SBD pump. However I hope the steem and SBD will increase together.
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great post man! :)
So if sbd is 0.9$ and i convert into steem i receive extra 10%? how it works? never used convert function , usually using just buy sell in the internal market
seems like people are more interesting in liquid steem this time around