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RE: Vlog 383: Refuting Steem rumors + professionalising witness @blockbrothers
and the other one that the outstanding SBD could inflate the STEEM supply to extreme numbers.
This is absolutely still possible. There is no upper limit on how much Steem could be created from the extant SBD supply. It all just depends on the timeframe and how much SBD gets converted into Steem per week.
The 'haircut' protection has already dropped to a .39 SBD to Steem rate after some conversions just the other day. That will keep ticking down. You only have to look at @socky's chart of Steem supply that it inflation can curve upwards unpredictably. Nobody should be under the illusion that SBD doesn't carry an inflation risk.
Having extra Steem on the markets will keep the price suppressed for many more years to come, if we cant stop the inflation from going to crazy levels then we are in trouble. Saying that Steem inflation is 9% annually is a huge lie, this community doesn't deserve to be lied to and scammed to. To me it is clear as day, if SBD is causing extra Steem inflation, SBD needs to go to a well deserved rest. This could be just a start of possible damage SBD can do, yes there is less printing of SBD right now, but whose to say that 12.5 million SBD circulating right now can't all be converted to STEEM which at his price would create cca 30 million extra STEEM.
While it might hurt for a while not having SBD, we will adjust to situation quickly, it is just one less currency in our life, the one that was supposed to be pegged to 1USD, yeah if 1USD is worth 0.5$ up to 20$. SBD is a joke that needs to end. Can't you all see that people are speculating on the "pegged" asset that can bring down Steem!? Why is SBD still alive is my question?
There is almost never anything positive with you, is there.
That last up move is clearly @freedom who just converted a 100.000SBD to STEEM and that was not unpredictable because nothing is regarding conversion on a public blockchain.
I just don't think we should be under any illusions.
Can you predict when @freedom or anyone else will do conversions and how much? When and how that debt gets turned into Steem is something we just don't know, and it can happen in such a way that creates much more Steem than the current price suggests.