Steemit: Estimated account value
After consistently blogging for the last couple months, I've earned a little Steem and SBD (not much, but hey, it's a start, right?). I've mostly been powering up, but I threw a little SBD into savings.
When I examine my "estimated account value", it does not correlate with free market values. For example, 1 SBD is going for around $12 USD on the market, but it seems to be pegged at around the same value as Steem in the estimated value.
Am I missing something? It says my account value is calculated in Steem, so is this ignoring free market value?
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STOPSo, there's this: https://steemit.com/steem/@terrybrock/quick-question-steemians-estimated-account-value
Now my take on it is that it's never in terms of USD. It's all in terms of SBD. And one thing about internal is that all conversions are based on a 3.5 day moving average (the price feed)
some info here: https://steemit.com/steemit/@dragosroua/why-trading-sbd-for-steem-on-the-internal-market-is-fundamental-during-this-sbd-pump
but more in the whitepaper on page 11: https://steem.io/SteemWhitePaper.pdf
What this means is that the estimates will likely lag behind the market, and that they are in terms of SBD, not USD, which makes it slightly confusing when SBD is currently going crazy like it is now.
You're saying it's all in SBD, but if I power down, my power would be converted to Steem, which is worth much less than SBD on the free market. This is confusing! Lol.
Another noob question: if I choose to power down, must I power down completely, or can I just power down for a couple weeks to take out some money while leaving some power?
You can stop a power down, from what I've observed.
Yeah, the estimate is really just that. I should actually carry out the computation at some point based on the current price feed hmm....
So did you mean the estimate is in Steem or SBD? I thought it was in USD. It seems like there's a big difference!
I'm not sure the question? I'm saying (guessing) that the estimate is when everything is converted to SBD based on the price feed SBD/STEEM rate.
Ok cuz the estimate doesn't match up. Let's say I have 1 SBD (easy math) and 10 Steem. Steem is going for about $2 USD while SBD is about $12. That would be about $32 in USD.
But the estimate seems to calculate it all at Steem value ($2), which would only be about $22, in this example.
That's why I was talking about the price feed. It's lagging behind the current market rate, being an average over 3.5 days. I forget where the price feed data is though.. need to look it up.
Ah k so it just hasn't caught up to current market value then? That would make sense.
but it does say "The estimated value is based on an average value of Steem in US dollars."
Hmm... it's interesting. The price feed I was mentioning is tracking USD-steem, rather than SBD-steem, so on second thought I am probably wrong in my comment about SBD.
So then the only mystery is how it's treating the amount of SBD held.
Would it count SBD being held in an account as 1 USD (rather than the crazy $12 it is now)? Hmm.. I need to see some other examples to be sure.
Thanks for pointing this out.
Yes it does seem it's treating SBD as 1 USD. That's why I originally said in terms of SBD, but now I realize it doesn't quite make sense.
The price feed also determines how STEEM will be converted to SBD on payout, so interestingly, the total value being generated on payout seems to be higher than market rate in that case, for the same amount of STEEM converted.
Going to do some more research about payout using the mentioned reference, steem.supply seems to have some information about that.
Still confused after reading some more lol. Some people say the estimated account value is in USD. Others say it's on SBD. There's a huge difference between the two.
Say I have an estimated account value of $50. That's nice in USD, but, it's more like $750 in SBD at the going rate!
Pretty big difference. Can anyone clarify?