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RE: TimCliff Witness Update 2018-03-19
I support the removal of the "gradual reduction in SBD printing from 2% debt level to 5% debt level"
What does it mean?
I support the removal of the "gradual reduction in SBD printing from 2% debt level to 5% debt level"
What does it mean?
Once the level of SBD debt compared to the STEEM marketcap is at 2%, the blockchain starts paying a portion of author payouts in STEEM instead of SBD. I support a change to continue printing SBD up until it reaches 10%.
Any such change is a mere change of an arbitrary rule.
Why is a 10% market cap better than a 2% market cap?
You may as well crash SBD hard enough to break your peg downwards.
10% is the point at which SBD to STEEM conversions start returning less than 1 USD worth of STEEM.
My preference is to avoid causing a crash.
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