Does Anyone Know Why SBD Is No Longer Being Printed?

in #sbd5 years ago

I've noticed that my pending post payouts are being listed in STEEM and SP, but not SBD, even though I picked 50/50 payout. Based on an analysis I did in a previous post, my understanding was that following the velocity hard fork, SBD would stop being printed once the ratio of Steem to SBD went over 10%. A quick look at the circulating supply of each on coinmarketcap.com shows that we're currently just over 4%.

So what gives? Is there some other mechanism that the witnesses have to stop printing SBD besides the supply ratio? Did they enact something to try to raise the price because SBD has been below a dollar for so long? If anyone has any insight into what's going on behind the scenes, I'd be interested to know.

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Remember that the 10% isn't just amount of tokens, it's the value of the tokens. Looking at coinmarketcap right now I just saw SBD market cap around $11.3 million and STEEM market cap about $116 million. We're just flirting with 10% by the market cap calculations there... but in truth we are over 10% now, because as far as the blockchain is concerned SBD are always worth $1, not the .87 they're trading at on the market. So the blockchain sees us as having $13 million in debt with the Steem supply at $116 million which is 11.2%.

Ah, that makes sense. I didn't realize it was value, not supply. Thanks for taking the time to explain this. It didn't take us long to go from 5 to 10%. I guess the change in HF20 was just a stopgap after all, and not an actual solution.

There have been long stretches in the past of no SBD being printed and it’s really not a huge issue. The changes actually raised the “debt ceiling” if I recall. Before I believe printing cut off at 5%. Almost the only thing affected is folks who transact with services like bidbots that only accept SBD. It creates a little more hassle for them. I’m the reverse and have always switched SBD out for Steem quickly, so it actually adds convenience for me!

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