You are viewing a single comment's thread from:
RE: If you change your SteemDollar balance now, you will receive your interest
The interest payments on STEEM Dollars need to be more transparent. Despite holding thousands of STEEM Dollars in my account for a few weeks, I don't recall collecting any interest. Not saying I haven't. Just I haven't seen it nor is there an easy way of checking whether I have or not.
If STEEM Dollar interest was more visible it would incentivise people to hold it for longer. It's certainly an area that could do with improvement IMO.
(NB: Changed my SBD balance just now... no interest added)
I totally agree with you. Technically, it is possible to derive the amount of interest you could get if it was payed out to you today by looking into the account details:
interest = interest_rate * sbd_seconds / seconds_per_yearI am not 100% positive on this, but I would say that it evaluates to this in your case:
10**-3is used to get from the "satoshi" values to the actualy SBD amount (precision 3)Please let me know if you get something around that value. I am curious to know.
I did a happy dance when you first mis-typed 2000+ SBD interest!
21 SBD seems more realistic. Will let you know if anything comes through.
Received interest of 20.704 SBD, so you were pretty much spot on.
How did you work out the sbd seconds? (6524189830497 )
That number is returned by the Steem API node. It's derived internally by the protocol and provided when calling
get_account <accountname>Thanks - I've been following your piston/ python updates... I guess I'm going to have to find the time to get my hands dirty and have a look under the hood of Steem!
If you are awarded for posting is that " a change to sbd balance"? Or do I need to do something manually?
It seems any change in any of your balances triggers the interest payment
Do you recieve interest if sbd are held at bittrex? Why not. Seems like you should. Merchants would likely like to hold sbd somewhere they could easily cash out.
That's a question you need to ask bittrex. I personally never hold funds on an exchange for longer than absolutely necessary (except for a decentralized exchange, of course)
Thanks for the reply but bittrex was an example. Will I recieve interest at a non Steem walket? Seems like I should?
Technically, the blockchain cannot know the SBD belong to you, that's why you would need to find an agreement with bittrex .. or not leave your SBD there
"A few weeks" is not long enough. Has to be 30 days.
Do the SBD need to be in the account for 30 days before it attracts interest?
Or do I have to wait 30 days for the interest payout to happen?
NB: I've seen SBD interest payments paid on my wife's account when she sold SBD for STEEM in the internal market
This was only a few days after the July 4th payout....
Either way it's all very confusing.