Steem.Supply Update: Multiple Time Windows For The SBD / STEEM Chart
Following one of the most common suggestions ever since I added the SBD / STEEM chart to steem.supply, I implemented a couple more time windows for it. As of now, you can see the historical SBD to STEEM evolution for 7, 30 and 60 days. When the site loads, it defaults to 7 days, but you can switch with any of the buttons above the chart.
Here's how it looks with current data:
There is also a baseline for the parity value, meaning 1.0, which is colored in blue.
As always, looking forward to your suggestions, criticism and feedback.
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.
Wanna know when you're getting paid?
|
I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
I love you for implementing my suggested update! That will be really powerful in the future, I guartantee it.
I am going to send you a tip right now.
If it is not too hardware consuming, I think 90 days and 180 days would be a great addition to it.
But my question is , what will happen ? I thought sbd was falling back to this $1 mark but it beat Steem last night and went pass $5 Mark
Nice update! Still one of the most useful helper apps in our ecosystem; appreciate your work on this.
Steem seems to have held up quite well during this recent market "correction," compared to many other coins. I sometimes wonder just HOW much that "B" rating from Weiss is helping keep the token more stable than many.
I don't understand. Wasn't SBD supposed to be a kind of "stablecoin" and oscillate closely around 1 USD ? Why is it so high, when it produces 0% APR ? An SBD is now worth around 5 USD (and it has been as high as 14 USD I've read).
All this is extremely confusing. The whitepaper says that it is supposed to represent "convertible bonds". Its supply is supposed to be limited to a 10% debt/equity ratio (where equity is steem power). So the SBD price is constrained by scarcity, fair enough. But why would people crave SBD and push its price up ?
Anyone cares to enlighten me? Thanks
Initially, SBD was intended to be a stable currency, that's its role in the entire ecosystem. Its "peg" to the dollar is not a "hard" peg, though, as there is no equal amount of USD in an account backing up the circulating amount of SBD. It's a "soft" peg, meaning 1 SBD should b equal $1 worth of STEEM. This makes SBD a debt-based smart contract on top of the STEEM blockchain.
So, if 1 STEEM is worth $0.5, 1 SBD should be 2 STEEM. If 1 STEEM is worth $2, then 1 SBD should be 0.5 STEEM.
This correspondence is enforced by witnesses, which are controlling the printing of SBD via a blockchain prop called "price feed bias" (have a look at http://steemd.com/witnesses, the bias column). If this bias is over 0, then more SBD than STEEM is printed daily. That's why you see in your rewards something like "8.2 SBD and 2.3 Steem Power". Normally, this percentage should be equal, 50% SBD, 50% STEEM
This mechanism works well inside the ecosystem, when witnesses set up their price feeds and a median value is chosen. But once the token, meaning SBD, is taken outside, in an open exchange, then it's subject to offer and demand, meaning the final price is established by the market.
And so it happened that SBD had a very small supply (small for the current stage of the crypto market, with huge volumes), around 3.5 million when this pumping started, last year. So a group of traders saw an opportunity here and really started to pump it. That's all what's happening now. Some witnesses, me included, reacted by changing their price feed bias, so more SBD is printed. In just 2 months, the SBD volume increased with more than 5 million. In time, this will make pumping less and less possible.
Unfortunately, this process is very slow, but in the end it will lower back the price of SBD. Unfortunately, I don't know of any other measure to keep the price of a soft-pegged asset stable, and based on the discussions between witnesses, nobody does.
Hope this answers your questions.
I never understood the point in having SBD. Seems to me that Steem would be just fine.
about that artificial peg..that's a plan
Make a plan...Murphy laughs...
how's that working out for us?
Thank you, very informative answer. I've listed a series of other questions I would like someone to have a look at and maybe offer an answer, here:
https://steemit.com/steemit/@sorin.cristescu/quick-post-displaying-my-current-level-of-steem-it-ignorance
Somebody should do a post explaining sbd if an explanation is even possible. lol
I guess sbd is inflating pretty fast right now so it seems like the price should eventually go down.
Steem.Supply is the most useful tool there is IMO, I voted for you. Thank you! I don't see the though buttons I guess I'll try ctrl+f5
Now it works, very nice addition indeed!
SBD 15.6% higher than Steem. Pump ⛽ pressure is up 👆
Last 10 days were really bad for both but now both SBD and steem started the Ariel route after stabilisation of the market.thats good for the currency and steemit too.
Think I'm going for the worst trader in the world award, why didn't I just have faith that they would repeat the same exact pattern... I guess steem might have a big boost in a little while before both start to deflate like sad balloons.
My question from yesterday has been answered -- now is the time to buy SP. I missed the window. I have got to be more patient!
Thank you very much for this update i'm using steem.supply every once and a while and this is looking like a great feature