As you know, there is an imbalance in the rewards ratio these days, because of the price feed bias set up by witnesses. Even if you choose, when you post, to get your rewards 50/50, in reality this is not happening. Instead of getting an equal amount of SBD and Steem Power, you get a variable amount, generated by the aforementioned price bias.
Right now, this ratio is 74.38% SBD and 25.62 Steem Power. So if your author rewards are displayed to be $10, here's what you will get:
- 25% goes to curators, so minus $2.5
- 75% goes to you, the author, $7.5
out if this $7.5, you will get
- 74.38% in SBD: 5.5785
- 25.62% in Steem Power: 1.9215
The "$" sign in front of the rewards is misleading and it's based on the convention that SBD is pegged to the dollar, which is not anymore, for at least 3 weeks now. The current market value of 1 SBD is around $14 (at the time of writing). If you want to get a glimpse of your real dollar values, you can use a tool I wrote, called steem.supply.
So, is this gap a good thing or a bad thing?
It's neither or both, if you want.
The reason witnesses are shifting the amount of rewards in SBD is exactly the broken peg. By increasing the SBD supply, the price of it should go down, closer to the peg. When the imbalances started, the total supply of SBD was around 3.5 million, now it's 4 million. At the current amounts of money traded in crypto, this supply is very easily played out (manipulated) by whales, with various goals.
Increasing SBD also increases the debt-to-ownership ratio. SBD is not backed by real dollars, but by "$1 worth of STEEM", which makes the understanding of this whole mechanism a bit difficult.
To put it shortly, if this trend of "printing" more SBD continues over a certain threshold (I have no idea now how big this threshold should be) the entire system may become unstable. At the same time, if the supply of SBD is too "small", its price could be easily manipulated by powerful players, with unexpected results. Right now we're enjoying the high price, but the same whales that made SBD go up could dump it just as fast.
Back to our split. If the trend continues, we may see entire rewards being paid in SBD. As far as I remember, this wouldn't be the first time it happens.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):