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RE: 1 STEEM = 1 SBD: And So It Begins!
Hi @underground, QUESTION: I have post payout set at 50/50. On my latest post I got $94.42 in author rewards. This was split SBD 47.21 and only 8.22 Steem. If they are in parity, why is the STEEM payout 6x less than the SBD payout? Why am i not getting SBD 47.21 and only 47.21 Steem?
the system sees STEEM as worth $5.74 so it awards 8.22 steem (8.22x5.743309) so the numbers work, 8.22 steem = $47.21... The system also stills awards 47.21 SBD because it is presumably pegged to the U$D, so you get an "Equal Payout" in SBD... but wait! SBD went a lot higher, so this is a temporary "BONUS" or rather, a Glitch in the system. I bet they "fix" this in HF 20, and SBD rewards will be adjustable according to market value. So Take Advantage of it while you can! HF 20 is still being worked on as far as I know. Good Q, Colin!
Wow, I have looking for answers on Steemit all day. That explains it very well. Thank you, thank you, thank you
it giving more sbd in this case isn't much of a glitch in my opinion, it just provides a way to stabalize the share prices into higher trading values afaik its not pegged down to a dollar its only pegged to not drop under a dollar, its only a way to measure a relative value of capital and shares, and it does that quite accurately even considering rewards, since shares are now handed out in a higher degree of scarecity when while they were worth 3 times less than sbd it brought the reward quantities closer together, and as that drifts apart the value drifts together, bringing steem up and sbd down and permanently making both relative sides of the market worth more to the outside world, creating that rising trend in combined value we see now.
hi