I am not a witness but I am concerned about pulling down SBD price toward 1$. I will be removing my votes to witnesses that support Feed Premium.

in sbd •  2 years ago


What can we offer as ordinary Steemians?

Hold on to your SBD to fabricate a great demand of SBD in the market. In that way, merchants that are accepting SBD as payments will be force to buy SBD at a higher value. This will also mean that there will be less movement of SBD in the market and decreases inflation rate of the STEEM tokens.

@clayop's post about Three Reasons Why We Should Not Support Feed Premium pointed out strong points and weak points of having SBD price of more than a dollar.

Along with this post, I will be removing my votes to the witnesses I voted before and will choose deserving witnesses. So I am considering witnesses who does not support FEED PREMIUM and actively supports other steemit members.

The following witnesses who had my vote but will be removed after this post .
01 @roelandp
02 @gtg
03 @bhuz
04 @anyx
05 @witness.svk
07 @wackou
08 @xeldal
09 @abit
10 @jesta
11 @good-karma
12 @pfunk
13 @klye
14 @timcliff
15 @pharesim
18 @smooth.witness
20 @riverhead
23 @furion
24 @charlieshrem
27 @someguy123
32 @joseph
40 @bacchist
42 @curie
43 @fyrst-witness
48 @ausbitbank

I will be voting for the following witnesses that supports SBD at more than a $.

If you're a witness, comment below if you don't support feed premium and you will have my precious vote.

Now I know what's my value here on Steemit as an ordinary steemian. You too can help for the good of the community. Witnesses employ a major role in the community and for you as an ordinary steemian, every vote counts!

Feel free to upvote for visibility and resteem to spread the good news!

Steem On!

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So... I'm on the list of witnesses that had your vote and now I'm unapproved. What's the reason behind this? Because your post contradicts itself.

I'm glad that you care about SBD peg, about voting for witnesses, etc., keep up the good work... but I just don't get your actions.

Many witnesses from your list (including myself) have unbiased price feed (see my feed and/or my last witness update)


Consider it as a verification update as it may takes time to scan for witnesses updates. Its been a hot topic lately about this 'SBD peg'. Maybe my post does not follow what I want to express. I hope you could lend some ideas to what I have really miss.
You have my vote!

I appreciate your active witness voting. Part of the rationale for printing more SBD is not just to increase supply, but also to increase supply to make up for the difference between where the reward pool is and where it would be had the 30-day pool switchover not been poorly implemented. However that gap has been closing and I've just reduced my premium down to 9%. I expect that SBD's market price will return to $1 soon enough as long as SBD is printed at about the current rate, but printing more SBD will hasten that.

I don't support a feed premium, like I've said in every witness report so far I publish an unbiased price feed.
I don't artificially manipulate my price feed at all.

I do support implementing the reverse mechanism to the existing SBD to Steem conversion option however - which would help to put an upper cap on SBD value.

Overpriced SBD is not a good thing for the long term health of the system and will lead to more inflation (the opposite of what you seem to think)


Thanks for your feedback. Maybe I didn't understand well about the effects of the overpriced SBD but I'm sure It keeps ordinary steemit users motivated to post and create valuable content.
You have my vote tho.


Overpriced SBD requires inflation of number of daily STEEM created to cover those SBD debts, which in turn, lowers the price value of STEEM.

STEEM is priced high right now because of the way SBD is handled. You should put your votes back the way they were... that is what I'd do...

Unless of course you'd like to see STEEM go back to 7 cents again, when SBD was worth a lot more and was collecting lots of APR interest

(This is my understanding anyway. Ask @timcliff -- he's the best witness I know of.. and he really knows a lot about this stuff)


Thanks intelliguy :) Printing more SBD will most likely put a downward pressure on the price of STEEM sometime in the future. Technically the higher price doesn't, but this post here explains why it is bad for the price to be high, and offers one potential solution to address it (without a price feed premium). https://steemit.com/sbd/@timcliff/saving-sbd-proposal-to-restore-the-usd1-usd-usd1-sbd-peg



Overpriced SBD is not a good thing for the long term health of the system and will lead to more inflation (the opposite of what you seem to think)

I want to echo pfunk's sentiment, and thank you for taking an active role in witness voting. The more people that do so and promote healthy discussion and debate, the stronger the platform will become.


You can check whether "bias" is highly positive on steemd.com/witnesses
0 means no premium nor discount and positive means premium.

SBD is supposed to be one dollar.

I have to plead ignorance here. What's Feed Premium. Sounds like something I would be against...

This is great, I hope more Steemians take an active interest in witness voting!

As for the premium, don't worry about it, it only takes effect based on the median. That'd require 10 top 20 witnesses, and it could shuffle around depending on the runner up witnesses in each round.

Currently, I think this is a non-issue. Over time, SBDs should stabilize at $1. It's fair policy to hasten the process, though.

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Hi. Just for clarity, I think that having SBD back at $1 USD is something that we as witnesses should be trying to achive, but I do not think using a feed premium as a method to get there is appropriate/correct. You can verify that my feed is reporting 0 bias on http://www.steemd.com/witness.


Thank you thank you. Youre one of the best witnesses here.