Burn the Debt, Go AheadsteemCreated with Sketch.

in steam4steem •  last year
Steem's train goes full steam ahead
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Burn debt, promote posts and shake up the Promoted section a bit.

Your Vote Counts

You can find the details in this post and in previous #steam4steem posts as well. Also, feel free to ask me in the comment section.
In short, I will use 90% of the posts' reward to burn SBD by promoting steemians' posts that someone thought worthwhile to promote already.

This week's base amount per promotion is 0.360 SBD.

Thank you for supporting the network (it's me and you) with your vote! Don't forget that you can vote effectively for a whole week after the post was born. Since there is only one post per week, you can help a lot if you reblog this post (especially when it gets some days older).

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If we could convert to sp I would burn more sbd.
As it is I have to first trade to steem.
I would rather burn sbd than trade, if I could.

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You can burn SBD by convert it to STEEM.
There is an option in the wallet at the SBD called Convert to STEEM. It's a feed price conversion, where SBD will be burned and you'll get STEEM for it. It's just a step from there to convert it to SP by Power Up.

Note that witnesses have "SBD bias", that means a witness can set a bias where you get more STEEM by conversion than with exchange on the market. So they can incentivize you to convert SBD to STEEM (just like with the 0% APR).

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Right, but when sbd is trading too high it is the opposite and I have no access to how much I am losing by doing that.
But in pursuit of altruism for the system I might swallow the loss if it went to sp directly.
I'd justify it by saving the additional step.
Two steps to a loss is less palatable than one step to a loss, imo.
If the bias isn't the other way?
Only the witnesses know from day to day.

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You are right.

feed_price
base 0.291 SBD
quote 0.990 STEEM

It's interesting with 0% APR. The witnesses have found a new way to incentivize holding SBD without high interest rate. Not bad.

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I think they need a rabbit and a hat, poliniex has had sbd under .9usd for a couple days.

What do those numbers mean?