SBD Potato 2020/01/25 #1

in #sbdpotato2 years ago


sbdpotato thumb.jpg

Conversion Report

Now automated at 10-minute intervals, if there is STEEM present in the account the bot will sell it on the internal market for SBD at a max rate of 300 STEEM per cron interval, this rate can be adjusted in Config Vars.

Thereafter, all available SBD is placed into conversion automatically.

The code repository can be seen on this Github link.

If you would like to see the code in action, donate STEEM directly to @sbdpotato and watch the bot do its thing on https://steemd.com/@sbdpotato.

Feel free to follow the conversion progress via the links below:

Conversions in progress (API): 5,161.31 SBD (341 conversions)
Total conversions since inception (API): 26,850.49 SBD (1,454 conversions)

Vote for this post to help fix the Steem Dollar Peg!

In case you missed it; here is THE LINK to the intro post about @sbdpotato.

TLDR, you vote for @sbdpotato's daily posts and the rewards @sbdpotato earns will be used to purchase SBD on the internal market, convert it to STEEM (reducing the SBD supply) and then the converted STEEM will be used in a circular fashion to purchase more SBD - Rinse Repeat! That's basically it!

Today's SBD Price (Bittrex): 0.80 USD

Current Debt Ratio: 12.17%

Target Debt Ratio: 9.90%

What do you get out of supporting @sbdpotato?

Well firstly by voting this post you will be helping fix SBD to get it pegged to 1 USD again as it was meant to, this could also help bring the STEEM price up with it. There is a theory that the two are circular, a strong SBD gives support to healthier STEEM prices, perhaps due to positive sentiment in the network.

In addition to doing your part to improve the economy of the Steem network, you will also earn SP curation rewards from voting the post that hopefully get decent traction.

You can set the @sbdpotato account on autovote using a service like beta.steemvoter, by creating a stream to autovote the @sbdpotato account at around 4 or 5 minutes as per the screenshot below. There are also other autovoter services you can use if you prefer.



Conclusion and Disclaimer

All images used a royalty-free, courtesy of pixabay.com.

As custodian of this project I, @thecryptodrive, will not derive any monetary value therefrom and undertake this under my duty as Steem consensus witness and ambassador.

When the @sbdpotato funds are no longer required to support the peg, they will be sent to @steem.dao where the community can then decide what they should be used for.

I hope the Steem community will embrace this idea of supporting the SBD peg by voting the @sbdpotato posts regularly, alone we are powerless, together we can bring about change.

Sponsors

If you would like to have your banner featured on the daily posts, simply upload your banner in our comments sections and pledge to vote for @sbdpotato daily and/or include @sbdpotato as a beneficiary of your own posts!







Project owner @thecryptodrive, consider voting for his witness via this link!



Market buy and conversion automation code provided by @stoodkev, consider voting for his witness via this link!


SteemSQL access sponsored by @arcange, consider voting for his witness via this link!


VOTE @SBDPOTATO TO BRING BACK BALANCE TO THE FORCE!

VOTE FOR OUR PROPOSAL TO GET THERE FASTER!

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This post earned a total payout of 10.185$ and 7.658$ worth of author reward which was liquified using @likwid. To learn more.

This post earned a total payout of 10.072$ and 7.573$ worth of author reward which was liquified using @likwid. To learn more.

This post earned a total payout of 4.708$ and 3.540$ worth of author reward which was liquified using @likwid. To learn more.

This post earned a total payout of 4.448$ and 3.344$ worth of author reward which was liquified using @likwid. To learn more.

You're going down, potato pusher! We are gonna make curation great again. I will kill 1 potato hostage for every post you insist on creating. No more of this lazy man's curating. Don't care what purported economic premise you have concocted and whether it is in earnest or not. Disable curation rewards on these posts and know an investigation is coming.

The milk rebellion is upon you! Authors rise up!

Never gets old giphy 1.gif

Do a better job downvoting next time @ctime.

I suspect I know who you are, or at least what your angle is:
Screen Shot 20200125 at 4.44.59 PM.png

@ctime don't be shy. So, I reckon now with the 2nd flag, you dispute is based on a difference of opinion. I'm happy to entertain your ideas but you kind of have to communicate them first.

If you are confident in your position, by all means lay it out. Let's see if it's halfway intelligible or coherent. The ball is in your court.

This post earned a total payout of 15.085$ and 11.342$ worth of author reward which was liquified using @likwid. To learn more.

Why is the ratio going back up? It was down to 11.1%

Because simply dumping/givingout money won't fix the economy?

There are two factors contributing to the ratio. One is the amount of SBD in circulation (which has been declining, and will probably decline consistently from here on out given the size of the potato fund) and the other is the price of STEEM. If the price of STEEM declines then the ratio will go back up. That being said, if the amount of SBD in circulation decreases enough, then the ratio will go down regardless of the STEEM price. At the current rate of decline, this may take some time, though the rate is increasing as potato accumulates more funds.

Thank you so much for the explanation. So instead of looking at the ratio. I should be watching the amount of SBD ?

Both are significant but ratio (and STEEM price) has a lot more short term volatility.

Another perspective on the numbers is that the lower the SBD supply goes, the lower the STEEM price needed to restore the peg. Currently it is about 19.5 cents.

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