Aggressively Forcing SBD Peg By Adjusting Feed Bias - Witness Discrestion
I got intrigued by comments I read posted by @dragosroua (witness #60). This is a quick snip-it of how he understands SBD function and what can be done by witnesses to encourage the SBD peg.
Currently two witnesses in the top 21 have a bias greater than 0%. @pharesim(#14) and @netuoso(#21)
As seen here: https://steemd.com/witnesses
As you can see a 300% bias causes 3x increase in the SBD price reported to the blockchain by @netuoso:
Haven't really formed an opinion on this but thought I would share my research. Please comment below with your thoughts.
thanks for the post, but what the bias actually changes is the Steem price that he publishes... since blockchain determines SBD always to be $1 worth of steem... and has no view on price of sbd other than that.
I think witnesses report STEEM price in USD not SBD price. As you said SBD price is hard coded at $1 into the Blockchain.
Yes that is the usd value of Steem. That the price feed is deciding.
It's a bummer to take a loss on the drop but hopefully the peg will break again after I get a few hundred more coins
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What's Discrestion? Did you mean to write Discretion? Fix it, if so and then it will not be in the block chain?
I agree with @Mathiasian, but I don't agree with anyone manipulating any prices of anything! I trust the true free market.