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RE: TimCliff Witness Update 2017-01-08
hi tim, just voted for you. thanks for your contributions! meanwhile, may I ask a quick question re witness that I have been so confused for a while? why different witness can set different sbd prices, registration fees,... etc.? I thought these 'numbers' are unanimous in the system... for instance, if wit A sets reg fee 30 and you set 40, what will a new comer get anyway!? a short answer will suffice. thank you! :)
Hi @deanliu - Thanks for your witness vote!!
To answer your question, each witness submits their own individual price feeds, registration prices, and SBD interest rates. The system will take the median numbers across the top 19 witnesses to determine what the 'actual' values are.
You can see what each witness is setting their parameters to here:
http://steemd.com/witnesses (currently down at the moment, but normally a good source)
https://steemdb.com/witnesses
oh, I see. so, theoretically there exists motive to set price strategically? although transparency might mitigate it. Is that correct?
I'm not sure what you mean. Can you elaborate?
never mind... it is not important. :)
Ok