Welcome Back STEEM BACKED DOLLARS (SBD) - [steem] [blockchain] [rewards]
- Welcome Back SBD's -
I wish I could explain to you the economics behind the creation of Steem and Steem Backed Dollars, but in all honesty I can explain Bitcoin and how it works much better than I could explain where Steem and Steem Back Dollars (SBD) come from. I do know that SBD's are supposed to be a stable coin, and it might be the first if not one of the first stable coins to have come into existence during this crypto-revolution.
@dan is most likely the genius behind all of Steem's economics, cryptography and blockchain technology, and @ned must have been the business side (maybe '_(0_0)_/' ). Anyway, for a good while now, rewards have not included SBD's, but now this is the first reward that I have received in a very long time that actually included SBD, albeit a very small amount.
@sbdpotato is an initiative that is intending to help increase the price of SBD, and maybe it working. Again, the mechanics of how all this actually works is best left those those who understand @sbdpotato and can explain it because I know I would not be able to.
All I do know is that I am glad to see SBD's back.
Take care my Steemians!
Full Steem Ahead!
+++ @streetstyle
Ah the debt float must be lower now. I did notice they are back up at a dollar.
maybe you or @improv can do a post on how this works again. I am sure I have read it before but still can be confusing and even more confusing to explain to others. I can definitely explain the Bitcoin Blockchain, but steem with SBDs as well as Steem I can not.
Tag me in your post if one of you or both of you decide on making a post about this magic.
Amigo espero este bien,caramba me alegre al ver de nuevo un poquito de sbd en mi monedero,gracias por haber luchado para ese logro y del steem,felicitaciones, gracias y muchos saludos de verdad lo aprecio y mis respetos para usted
meanwhile I still set all my posts to 100% power up so no SBD for me still
Nice... but maybe save some for #spud ?
I would end up with less vesting shares as the Steem per MVests increase every block produced. Not worth the wait for 1st day of the month.
yeah man! Just got a payout and got SBD too! It's been so long!
I know.... but things are looking up on Steem again!
Wow welcome BAck SBD 💙 ♬
SPUD great contribution !
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곰돌이가 @bluengel님의 소중한 댓글에 $0.028을 보팅해서 $0.014을 살려드리고 가요. 곰돌이가 지금까지 총 7337번 $94.115을 보팅해서 $98.948을 구했습니다. @gomdory 곰도뤼~
곰돌이가 @gomdory님의 소중한 댓글에 시세변동을 감안하여 $0.004을 보팅해서 $0.038을 지켜드리고 가요. 곰돌이가 지금까지 총 7373번 $94.974을 보팅해서 $99.601을 구했습니다. @gomdory 곰도뤼~
Que buena noticias, revisé mi billetera, aun no tengo SBD pendientes, pero espero que pronto también los tenga. Gracias por informarlo.
Feliz Día @streetstyle
Saludos @blessed-girl y espero que a si sea.... si no llegaran ya vera!
sí ya me están llegando los SBD que cheeeeevereeeeee.
Feliz fin de semana @streetstyle y de verdad es bueno que compartan algo de SteemDollars (SBD)
I also received it earlier. a happiness for all. I hope the SBD price will remain stable and not go down.
I can explain, if you'd like.
That would be great! I have read up on it before, probably gave up on it, so don't fully understand how it all works.
Sure!
The basics are simple.
SBD is printed if the Steem Market Cap (which is calculated from the Steem price in the Witness feeds, which they, in turn, update based on whatever exchanges they decide matter) is more than 10 times (in USD) the number of SBD in existence.
That's all there is to knowing IF SBD will be sent to you as liquid payout if you've chosen the 50/50 option.
But how much SBD will you get?
That depends on two things.
and
If
and
you will get 1 SBD (50% (because you chose 50/50) of 50% (because the other 50% goes to curators))
Between 8 and 10%, SBD printing tapers off.
We haven't had much lately because the steem prices tanked so hard, sending the number of SBD out there way above the 10% threshold very suddenly. So suddenly, in fact, that SBD prices fell to the point that no one wanted to sell, losing money, nor use the convert function because the SBD prices was still holding above the level of what you'd get for converting them. They were stuck in an economic frozone!
;P
Thanks for that @improv that actually made sense to me... don't think I could regurgitate this if I had to.... but at least I have your reply to fall back on.
I think SBD is annoying and would rather it not exist. I don't see any benefit. Some people think they're making extra payouts when it includes SBD, but after converting, it's the same. It's just an extra step and wasted time, for me.
But hooray for everybody that likes it!
Hello @drutter The thing with SBDs is that it is supposed to represent the Steem economy as a mature market, where the price of Steem coins can rise or fall, but in theory, the price of SBD is supposed to remain at $1 US Dollar or very close to that. This would thus eliminate vendors' and buyers' worrying about the Steem price fluctuations when using SBDs since they are supposed to "always" be $1 Dollar.
If SBD can become a true stable coin, this could bode well for the overall value of the STEEM blockchain, and Steem coin. We'll see.
That sounds fun but doesn't make any actual practical sense to me. "Should be" and "supposed to" don't matter in the real world of finances. Nothing about SBD is stable or useful.