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RE: Steem Dollar interest rate. Are witnesses asleep at the wheel?
That would make sense if the value is above $1 they want people to start selling it but with Itt below $1 they should really be encouraging more people to keep it.
The main problem I see is that when it is above $1 there is no great way to reduce it I think a minus interest rate would be helpful
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Converting SBD isn't the same as selling it or exchanging it for steem. The conversion destroys the SBD, theoretically increasing value via reduced supply.
Correct. To bring SBD back to 1 USD we need either Steem price to go up to about 0.4 USD or we'll need to burn about 5 million SBD , redusing the supply from the current 12 million to 7 million.