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RE: Allow me to re-introduce you to the "Power Up 100%" post option
Steem Blockchain always assumes that SBD = $1
Well, sort of. At this point it's worth noting that the peg will stop working if the feed price drops below (currently) $0.49, and SBD will become pegged to Steem instead of USD. (At a rate that depends on SBD supply but would be approximately 1 SBD = 2 Steem at the moment.)
interesting - that is new to me. Do you happen to know what section of the code that is on github? I sure hope it remains only theoretically interesting though we do seem to be approaching that price... :(
I should take a couple of days and index the thing, but that's not going to be today. Right now I have to find something again every time I want it. That's the section of code @timcliff was working on, though; maybe he can help.
The basic theory of it is that the total value of SBD is capped at 10% of the value of the whole Steem ecosystem, and when that would lead to SBD being worth more than $1 US the whole thing changes.
Ah that makes sense. The funny thing is I was thinking about a timcliff post from a while back when I said that the blockchain always assumes SBD is $1 LOL
Well I guess it is time to look into this now :( what with Steem at $.47 and all
There's an interesting race going on between those of us who are converting and the feed price. Even with Steem at .43 as I write this it's not inevitable that the peg will break. SBD supply keeps dropping. The magic number is down to .45 and falling.