Witness votes for higher interest!

3 months ago

If you want higher sbd prices the best way is to not votefor @abit and instead vote for @liondani. These are both near 20 in witness votes and liondani has 5% interest while @abit has 0%. A few votes could move the needle.

I love @abit, especially the whale experiment, but everyone should have at least 0.1% interest. Sbds are not risk free. The only way to change this is to vote out the 0 percent voters and replace them with interest voters.

If @abit starts posting interest I'll gladly vote him back and find another 0percenter.

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I think a minimum interest is needed to give one more motivation to users to transfer out of centralized exchanges their SBDs and it will promote STEEM even more as the safest "heaven" in cryptospace.

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I agree I hold my SBD on poloniex for now, no value to move it because at least it is liquid there.

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Wow you hit #5!

I am also a witness that has set a higher interest rate.

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Are you on the bubble? I'll add you but my vote is not much!

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Just voted for you!

The intention behind the SBD APR is to incentivize demand for SBD, so that SBD is pegged to 1 USD. Right now SBD is currently worth more than $1 USD, so using APR to incentivize more demand is actually not recommended based on the policy guidelines set out in the whitepaper.

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A bond with a convert should trade above $1 for the convert premium. If there was no convert option I would agree. But if you want a real peg you need an interest rate that gets to one dollar when no one is valuing he convert. Other wise when convert option goes to 0 the bond will go below par. It's horrible for this to trade below one whenever you need the stability. It doesn't matter if it's usually higher than $1

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The SBD peg is far from perfect, I give you that. There are two separate things to discuss regarding the interest though. There are short term market fluctuations, and medium to long term trends. You seem to be indicating that the goal should be to prevent it from even dipping below $1 USD, even for a short term. For one, this is opposite of how the whitepaper says it should be handled. Also, even with relatively high interest (3-5%), that would not be enough to prevent short term dips below $1 USD. The interest rate would need to be quite high in order to accomplish that, and would also result in SBD trading more than a few cents above $1 USD most of the time, which is also not good.

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I am not sure it would have to be that high to stay above $1 with a ten percent rate. The reason it had trouble before was that sbd market cap was too close to steem market cap. Now that steem is much higher that's not an issue anymore. If there was enough sbd out there that it could be a flight to safety currency it might start going up in crypto selloffs. I think with ten percent interest it would rarely dip below $1 unless steem fell below $100m market cap.

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10 percent would solve one problem but create another. You are right, it would rarely dip below $1 USD, but it would also not peg at a dollar either. We would likely see SBD pegged around $1.05-$1.10, which would also not be good (for different reasons).

I will vote for wanting to raise the price for SBD:)

Yeah 0% interest is a joke

0% is indeed a joke

Voting as witness have always been a price, make it 100 % Interest

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That's unreasonable. But 0-10 makes a lot of sense. It was ten in the white paper. I think it should be in line with short term high yield loans.

Anybody have a list of witnesses that have higher interest percentage?

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Look under the APR tag in the table at https://steemd.com/witnesses

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Thanks! That worked perfect.

unflag me @akibu77 unless i will unflag all your post, even new ones, give u just 24 to do so