A Vote For Conversion (Helping SBD Debt)
From now until the end of January, @taskmanager will be converting every Steem Dollar earned to help reduce debt, and increase the TASKMANAGER STEEM buyback amount.
This essentially means a vote for @taskmanager is a vote to reduce SBD debt! If you are the type of whale that likes to see SBD burn, VOTE FOR ME!
The Process
1. All earned Steem Backed Dollars are used for conversion
2. After 3.5 days the SBD is converted into STEEM by burning (?) the SBD
3. 75%+ of the STEEM is placed in savings for the TASKMANAGER BTS and OPEN.STEEM buyback via Bitshares.
So from now until the end of January, every time you vote for a post by @taskmanager, you are helping reduce SBD debt, and distributing STEEM via the TASKMANAGER profit share and rewards program.
I am concerned with the burning of SBD. Will you be using clean burning technology like scrubbers to reduce the environmental impact?
No, here at TaskManager we believe in efficiency over deficiency.
All SBD will be burned without any thought given to the environment.
Awesome reply. :) It made me chuckle.
Do you have any expectation of the quantity involved?
Unfortunately the engagement from protoplankton such as me is not going to have much impact.
No expectations, that is up to the community and their upvotes. If you want some of the daily reward pool burned vote on my posts.
So you probably want clarity that you are converting, not burning. Burning means that you are sending it to @null to destroy. Converting is good for debt reduction as well, but since you are keeping the STEEM - it is not burning.
But just to be clear, and for the readers, what is the difference between buying STEEM on the open market and going through the conversion process in regards with what happens to the SBD?
TY for the clarity,
I was under the (false) impression that conversion results in burning of the SBD
If you convert, it does "destroy" the SBD. It is more of a technicality of wording, but burning is usually used to refer to destroying it without getting the STEEM back in the end.
Also, not trying to discourage what you are doing (I'm all for any effort that aims to reduce the debt) but voting on any post that has payment set to 100% SP essentially has the same effect as what you are doing. In that case, the SBD is never produced in the first place - but it ends up with the same amount of SBD debt in the end.
I learn so much from your comments TC.... I appreciate that. I have been 100% steem powered in my posts for like--- ever now. I made a note in my wall charts I check once a week when I started, I did one or 2 prior to that.
I know it was after I came back the first week of Nov. after taking a month off of here seeing nothing really happening for me.
Using the 100% power up method would mean no way to share the profits from posts with the holders of TASKMANAGER, without powering down. With a 100% Steem Power post the profit goes 100% to the poster, what makes what I am doing different, is that most of the converted STEEM is redistributed to other users.
Understood. I agree that what you are doing is good and makes sense for what you are doing. Just from a purely SBD debt reduction perspective though, voting on your post vs. one that is paid in 100% SB has the same result in the end as far as the SBD debt is concerned.
Thank you for making this point and coming back to make things clear for the readers :)
If I can make my 50/50 posts as effective as a 100% SP post in reducing SBD debt, then I am a happy Task Manager.
Both STEEM and the holders of TASKMANAGER win this way.
Awesome, you got my vote :) 👍
Sounds good. Keep up the good work!