Witness clayop update 2017/07/11

clayop (73)in #witness-category • 7 years ago

Given the low price of SBD, I have increased APR to 5%. Although there are debates whether APR has negligible effects on SBD price and positive APR provides wealth to exchanges, I want to give a message that owning SBD at below the peg can yield profits. Regarding interests for exchanges, this is not our cup of tee since users can withdraw SBD or exchanges can distribute interests whenever they are willing to do.

Best,
clayop

#kr

7 years ago in #witness-category by clayop (73)

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baah (61) 7 years ago

How come the SBD wasn't pegged to the dollar for the last month or so, really confused about that.

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cm-steem (67) 7 years ago

You can't control how much it trades at on external exchanges, it just so happens that a lack of supply and increased demand increases its trading value..

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baah (61) 7 years ago

O duh, makes the conundrum of how can you peg it to the dollar when it's it's own token.

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violaartvilla (37) 7 years ago

I really need to no how the whole exchange works

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lexiconical (72) 7 years ago

Good points. I'd say the effects are only "negligible" within the context of the insanely fast moving crypto system, if at all. In the normal financial world it would be the opposite of negligible.

Agreed on exchange balances, they can be withdrawn, and whatever the exchange owns is their own asset to do whatever with.

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violaartvilla (37) 7 years ago

Thanks for that clearity

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kenny-crane (68) 7 years ago

My opinion is, I am glad you raised the interest rate on SBD. I think it Will have some affect on the price, increasing demand for it. We shall see!

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cheekspear (38) 7 years ago

I'm still confused about these things...but having this kind of manipulation, will that only benefit those with bigger investments?

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shenanigator (68) 7 years ago

I think we should at least give it some time before we start paying interest on SBD. The SBD price JUST dipped below $1.00, and it's barely below $1.00.

If it's consistently below $0.90 for the next month, then start talking about increasing the interest rate. However, I think paying interest creates unnecessary strain on the system, and right now, it's unnecessary.

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clayop (73) 7 years ago

This is a good way too. My move is somewhat proactive and I don't expect a half of top witnesses do like me at this moment. But my move can be a kind of refresher :)

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