Witness clayop update 2016/12/30
Hello Steemians! I was so busy doing my work and family travel. There are several things to report. Here are a brief summary.
- I am powering down 26 MVESTS to cover server maintenance costs. I expect this will cover 4~6 month server costs.
- SBD pegging bot reduced fund into half. First, I need some money to support my family and other projects. Second, given the halved conversion period, I think it can have same magnitude ($8,000 a week).
- Rethinking burning SBD now. I was asked by some people about how to utilize SBD with their service, but they commonly pointed out that scarcity of SBD is problematic. I am reconsidering about burning SBD is the best choice.
- I will reduce SBD interest rate to 2%, which is over 167% higher than the base rate of USD (0.75%). My intention is decreasing burden generation from the interest, while providing some incentives that can cover USD inflation rate.
Thanks for all your support. Happy new year!
한국어 버전입니다.
- 서버운영비 지불을 위해 26 MVESTS를 파워다운하기 시작했습니다. 향후 4~6개월간의 서버비를 충당할 것으로 예상됩니다.
- 스팀달러 페깅봇 펀드를 절반으로 줄였습니다. 개인적으로 쓸 곳도 생길 것 같고, 스달 컨버전 기간도 절반으로 줄여서 실제 영향은 하드포크 이전과 동일한 수준입니다.
- 스달을 태우는 것이 좋은지를 다시 고민하고 있습니다.
- 스달 이자율을 2%로 낮출 예정입니다.
감사합니다 ^^
Thanks for the update clayop.. Can I ask you about the cli command you use for powering down only part of your SP?... I would also want to power down only a portion of my stake to cover server costs and it doesnt seem practical to start and stop power downs every month.
If you want to 1 MVESTS (1 million VESTS), enter this:
withdraw_vesting YOURACCOUNT "1000000.000000 VESTS" trueThanks!!
Nice update. Happy new year @clayop
You too @bitcoinparadise !
The system can only support a limited amount, so it has to go somewhere. I know you have suggested generating less, but either way that doesn't help with scarcity, right? I do think that lower APR will help reduce hoarding (maybe not right away, but over time) and make more of what the system can support available in circulation. Maybe that will help? As you point out, those receiving interest are making a lot compared with typical USD interest rates. I'm definitely in agreement with the APR cutting.