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RE: New people: Why is my post payout changing? Why is it cut in half?
Do you have any idea how that peg is maintained? For regular currency, the currency is steadily bought or sold to maintain the peg.
It is pretty complex. The Witnesses adjust their nodes to setup some percentages and some such which I am no expert on and their activities can increase the price. If the price of Steem Dollars drops too low it will switch to rewarding you with steem and steem power and no steem dollars until it is back on peg. This has happened before. All of this works pretty well... where they have encountered difficulties is when the steem dollar goes above peg. That is apparently not as easy to counter act.
They also added the promote feature back when it was low. When you promote you actually send Steem dollars to NULL which is like burning them. They are no longer in the supply. So the use of promote can help increase the value of steem dollars by burning some of the supply.
As to the rest... still learning. :)
I find the whole thing fascinating from a systems perspective. Appreciate the time you always take to answer my questions. Any idea if there is some central repository where I could find these answers myself? I read the initial steem white paper, but that seems to be somewhat obsolete now and doesn't really go into detail about the mechanics of the whole thing.
Really steemit here and digging into it with Google searches or other searches is the closest you'll find to that. You could also perhaps find some answers from people on the SteemSpeak discord server as some people from Steemit Inc. do hang out there as well as other developers.
It's a lot to keep up with. If I were developing for it I'd be paying more attention. My knowledge just comes from being very involved here for about a year. I do jump into SteemSpeak sometimes but, for me that can be very distracting and before I know it I can lose a day.
The @jerrybanfield post I just resteemed covers most of it.