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RE: If You Want To Push Steem Dollar Down To Parity With The US-Dollar, You Need Helicopter SBDs!
No, it's more easy: If you use the 'Convert to Steem' function, you receive 1$ worth of Steem, independent of the SBD price.
But I actually don't know where the Steem for that is coming from... maybe from the reward pool?
They've removed that in the last(?) hardfork. If I recall it correctly from reading the witness channel protocols, @elear converted utopian SBD and lost ~20k US-$, because the Steem at that time had only 1/5 of the value of SBD and when you converted via that automatic system it changed it 1:1. (I did that wrong too, but on a bit of a smaller scale..^^)
You see, not even important users (utopian even has witness status!) really get the system and can work it. Although he screwed up terribly there, it's not necessarily elears fault. He simply trusted the system and it just catastrophically failed him.
I'm not sure either. They have all sorts of mechanisms at their disposal to control the flow. The biggest instruments are hardfork with a faster block production, more nodes (there are 19 ran by witnesses plus 1 automatically and I think the cash for the system comes from the last one) and the reduction of the bandwidth per user which reduces the number of posts you can make and you have to buy Steem to fill that up again. And yes, they surely can also manipulate the functionality of the reward pool.
I guess, they do what seems convenient in the situation. The downside of that: They make the system more complex and it might become uncontrollably wobbly at one point.
3 months ago Fill convert request: 15.000 SBD for 14.409 STEEM
This is the last time I used the function, unfortunately I don't remember the prices etc.
I think we already had HF19 back then or not?
This is really confusing right now...
3 months ago the function was still there. It got removed in December 2017. The ratio was about 1.2 Stem to 1 SBD and 1 SBD was worth 1 US-$. This went out of hand at the end of November when SBD suddenly jumped up.
Now I see that they removed it...
But I believe that this is only an UI change so that people stop loosing money, if you look at this post there is still SBD converted to Steem.
The ratio also isn't fixed. If you received 1.2 Steem for one SBD that just means that Steem was worth around 80 Cents. For the Steem blockchain it doesn't matter how much SBD is actually worth, it is treated as one USD.
Yes, I think it's just a surface thing, but that's all it needed.
Yes, it's good to know that people aren't loosing their money through that anymore.