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RE: Why account values (and a few other things) are messed up
Smooth, the median is used in some calculations. So that's not really true.
Example, to calculate the Debt Ratio, the median is used.
We have a Debt Ratio of 10% now, what does this mean?
Will the median price flip/flop from the old median based on exchange rates to the new median based on market cap? Back and forth?
The median is being calculated correctly, so the calculations are fine. It is just being handled incorrect by steem-js (a client-side library) and the results are displayed incorrectly by some UIs.
The debt ratio is 10% because that is the cap. At 10% the system starts reducing the backing of SBD to maintain 10%, until the fully-backed ratio drops below 10%. Right now backing on SBD is reduced to about 88c since the 'true' debt ratio is slightly above 10%.
I don't understand what you mean by flip/flop here.
Sometimes the debt ratio goes below 10%.
Before when it was lower as 10% it used the median price / 1 for the median price. After hitting the 10% it uses marketcap / supply.
Flip Flopping means, 10% or higher and 1 hour later below 10%.
Wil it change the median price calculation between the 2 above?
Because it makes a difference and every time it goes below 10% again, conversions would be possible because it restores also the 1 USD peg.
Or once we hit the 10% it's done? we lose the 1 USD peg and change the way the median price is calculated and thats it.
If thats the case, we have a serious problem.
Problem for example, I can calculate with the current 10% Debt Ratio and it's change to marketcap/supply what sbd price would do.
Knowing that we talk about an average median (3.5 days) and in the current situation the marketcap of sbd is capped to 10% of the steem marketcap.
This means the sbd price will follow steem 0.385 down to 0.783.
They both will behave like they are 1 currency.
Are you sure that currently 1SBD is not 1 US$ ? That would mean they have lied in their white paper.
In addition, the destruction of SBD will no longer work, so that SBD doesn't come back to 1 US$.
And when the steem supply increases extra because of sbd conversions and also the 10% cap ... imo the only way is down...for both steem and sbd.
Please tell me I am wrong...
The 10% cap rule is only applied once per hour when the median feed is recalculated (at which point, if necessary, an upward adjustment is applied to the median feed value). In between those updates, there may be some intermediate results that aren't fully up to date. Does that answer your question?
Bear in mind that any time you initiate a conversion the conversion rate won't calculated and applied until 3.5 days later. So you are always guessing to an extent what that future rate will be. Of course, knowing how the rules work may inform that guess.
Yes, thank you. Because of you, I found a better way than calculating the ratios. I use the median feed price against the internal market quotes now to decide to start an hourly sbd conversion.
I am happy again. :) thumbsup smooth