Steem dollar policy update and warning to converters

in #witness-category5 years ago (edited)

I am in agreement with the thoughts behind abit's comments

With the same goals I will be adopting a similar but slightly different policy, where I do not set the bias automatically, but I will set a high to very high bias as long as SBD is above $1 and SBD new supply is significantly reduced due to the immediate and longer-lasting-than-expected effects of HF18. Unfortunately a developer error in implementing HF18 has had the unintended consequence of destabilizing the SBD market, and these extraordinary measures are now needed to minimize the disruptive impact of that destabilization.

Those considering using the conversion function to obtain STEEM from SBD are advised not to consider not doing so as long as: a) SBD is worth more than $1, and b) a high bias is being used. If you do so you will risk receiving less or potentially even much less STEEM than if you sold or SBD using either the internal market ("Currency Market" in the menu) or receiving less value than if you sold it on an external exchange.

The proposed changes by @steemitblog are supposed to have the effect of helping the reward pool recover from the earlier error more quickly. Assuming those changes are implemented these measures may become unnecessary. We shall see.


The reward of this comment goes 100 % to the author smooth.witness. This is done by setting the beneficiaries of this comment to 100 %.

Hi .. I'm new Here, I need a push , thank you for up vote this post

i would like to bring witness t0 me ye i.d. 0 w/(h) e (a)d

@smooth.witness My critical blockchain intel analysis and report on EOS's possible disruption of Steem and Bitcoin. The Steemit Inc 2017 Roadmap and Steem-Dev priorities may need to be rethought and reset to address what appears to be a real threat - unless Ned worked out something with Dan that is going to keep Steem's head above water?

hi, I voted you as my witness, wish you help increase my rank , thank you .

Thanks for the follow up on Abits article and advice.

This is a great article, 😉 Regards @atjehsteemit

voted you as my witness man!!! great job

hello @smooth.witness, I am @princessjoyesto, I want to inform you that i voted you as my witness, thanks in advance for accepting me to do so. God bless.

Thank you and I am new and am still thinking about my options. I have only about one SBD. I joined Steem last week but I really do want to try to master it like a game.

i voted for you and you should also vote for me.

Hi smooth,

Just discovered u. Following. Much success to you.

Hi smooth.witness, nice post.. Congratulation for getting my vote as witnesses.. Keep it up with the good work and making steemit a better place.

Greetings, @smooth.witness,

Please pardon this 'off-topic' comment as coming from a Steemian who cares deeply about the platform and its future success.

I'm here to ask: When do you plan to adopt Steemit condenser version 19.10?

I encourage you, as a "Top 20" witness, to lead the way. Please update your witness node to 19.10 at the earliest possible opportunity, so that its much needed and long awaited features might be released as soon as possible for our use and enjoyment.

Thank you kindly in advance for your prompt action in expediting this matter.

Your fellow Steemian,




i'm your witness o.Ob

Nice info..

Hi. you are one of my witnesses, will you please take a look at this. no need to vote on my post but please vote on Steemit and pass on to your followers.
Thank you 😀

@smooth.witness FYI: My article proposing a fix for the SP Delegation Loophole. Hope it helps. Followed. Voted!


I am a community manager at Snax. We are trying to make public blockchain based on EOS node. Snax chain will provide transactions over social networks, token supply based on user social influence.

Snax as well as Steemit rewards its users for the content created, but Snax works as overlay solution over existing social networks (e.g. Twitter)

We have no ICO. We already have a testnet, mainnet will be launched this month, and we currently looking for great candidates for Block Producers like yourself. You can find out more about us at our website

If our project is interesting for you, please let me know by emailing me at [email protected]

Looking forward to hearing from you, and keep rocking this world!

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