No more SBD
Just a quick post that it is now official, the SBD print rate is zero which brings a new dynamic to some aspects of the platform for some people perhaps. This doesn't mean that there are no liquids printing of course, it is just that it is paid in Steem rather than SBD which means there will be more Steem on the market than normal but, not a great deal more considering there is:
Total amount of STEEM stored on all exchanges: 48,960,831 STEEM
source
However, it does mean that there is no new SBD being printed which means with a supply of only 15,698,674 SBD, there is potential for pumping I guess considering it wouldn't take much to get the ball rolling. I don't know about these things though so, don't make any decisions based on anything I say.
I think it is interesting to watch all of the little games play out here, even if I don't understand them. Kind of like watching Curling at the winter Olympics where they slide heavy stones down ice and broom in front of it, pretending it is a sport. You don't really need to understand all of the intricacies of something to be able to enjoy watching or, playing for that matter.
As Steem changes and more people come in, there are going to be less who are tech orientated and more who are enjoyment and consumer based. The content will change accordingly but, there will be growing spaces for all kinds of people with diverse interests to enjoy where they like. Knowing how one area works will become less important than it currently is.
For me, I enjoy attempting to learn little bits of information along the way as even if it doesn't really help me directly, I like to have an expanding picture of Steem and the connections between various aspects of the platform. It helps me understand where I am to some degree. I think that writing about it helps me build the picture too as people bring in new information to the comments and support or ask questions that adds depth.
There are a lot of things that go on here that give insight into a lot of other interesting things, like human behavior and, how they people react and respond in various situations. People are really interesting in my opinion. Well, some of them.
Anyway, as you will see the SBD tap has been shut off for the time being which means that... umm, who knows.
What are your predictions?
Taraz
[ a Steem original ]
Oh.. bedtime. will get to the comments in the morning.
Sounds like my current plan for how I power up and cash out might have to shift then, though I currently have no idea what it will shift to. I'll find out depending on what the situation is whenever I hit the arbitrary number I do these things at XD
Hey u see this?
@beatminister
It’s weird to me that I don’t remember this happening last year when both were approximately the same price around a dollar like they are.. maybe I just didn’t seem to notice!?!
it is not the price, it is the debt. When it happened last year, Steem was at 7 cents.
Ohhh well that makes sense!!! May have been just before I started here then!!!
I think having liquid Steem is a good thing. Previously we have had to either convert SBD or power down to generate liquid Steem, and so most of our daily transactional needs have been made with SBD. The now 100% liquid Steem, and no more SBD will hopefully open our eyes that we don't really need a second currency(SBD) on the platform.
Now that 1SBD is just about equal to 1 Steem, a straight swap for STEEM and scrapping of SBD would be an interesting prospect. There would be no split in value, or confusion over the utility value of Steem vs SBD.
There would be benefits to have a Steem-backed dollar in the future but, it isn't working if it isn't pegged.
That's the big thing: the peg doesn't work. Combine that with liquid rewards being heavily biased towards SDB, and you have Steem with very little utility value because it is less convenient to access than SBD is. The only reason we are getting Steem in our liquid rewards is because of its low price. If the peg was working, and we could choose liquid Steem as part of our rewards distribution, I think the economics would work a lot better, and Steem may actually be able to go up in value, and stay there, leaving SBD to be the 1USD debt token it is supposed to be.
Someone named Smooth said just the opposite....not sure others were convinced
https://steemit.com/sbd/@themarkymark/sbd-print-rate-0
In general, when @smooth gives a perspective on how things operate, it is worth a good read as he is very experienced with the platform and, the dynamics that effect it.
Thanks, that's good to know. High reps don't always highlight expertise...you'll get on a thread about the cypto market and someone in the comment section will say they don't know what they are talking about. (at least that's a nice interpretation of what's said...lol)
SBD will be back in sixteen days, plus however long it takes seventeen witnesses to approve. So if there's going to be a pump you would think the pumpers would feel some urgency about it.
Curling is absolutely a sport. You might enjoy it, there's a lot more thinking, and talking about thinking, than most sports.
The Hardfork is scheduled to take place on Tuesday, September 25,* 6 weeks away.
This might be my sport....
I'm not even sure if I misread the post or forgot what month it is. The long flight really kicked my butt this time around.
I am not sure if it will pump anyway but, interesting still.
I am not sure if
It will pump anyway but,
Interesting still.
- tarazkp
I'm a bot. I detect haiku.
this might be a haiku, @haikubot, but i don't think it's poetic! just saying...
(I'd say).....lol.
I can see your point one being a spectator to this game. There is certain thrill in waiting and watching, Partuculalrly a game in which you have stakes in....
If the SBD pumps, markets will play their game and we can rake in some cheap Steem in excahnge of our SBD :-)
Would be nice to get some cheap steem
I'm reading you and I'm remembering some of your past posts, @tarkzp. You were preparing us for that. Like García Márquez's novel, this is Chronicle of a Death Foretold. I just had my first subscription without SBD. I thought it was unusual! What else is waiting for us?
If I tell, it would ruin the surprise ;P
Hi Taraz. I don't know how the majority will take it but I think it's fantastic if you want to grow.
It takes out one step to powering up at least :)
Well it can only go up from here. Sbd better be pumping after this, I have got some sbd that needs to be divested.
In the comments here there's a couple suggestions on how you can still do that:
https://steemit.com/sbd/@themarkymark/sbd-print-rate-0
Is it still pegged to a dollar? I wonder if it would be advisable to buy a bunch right now?
well, it hasn't been pegged for 8 months but, the system still sees it as a dollar... I have no idea what people should do :)
I thought it was pegged on the downside but not on the upside, so that if it goes below a dollar the witnesses will come together to force it above a dollar again.... but it rises above a dollar the market will take over.
I wonder though, if it goes below a dollar these days....if the witnesses will come together to force it above a dollar again.
Fun fact, look at the historical chart for steem and sbd, when no one gave a shit about either sbd was trading for well under a dollar, but probably because steem was trading for pennies.
Exactly. I suspect STEEM would have to be in the shitter for SBD to break the peg to the downside. So, in a bear market and close to 1 USD in price, SBD is good, IMO.
It has a floor of 1 USD which is where its current price is. Unless the Steem blockchain break down completely, I only see an upside. Maybe it's a good idea to buy some, not crazy amounts but some.