You are viewing a single comment's thread from:

RE: Steem Dollar interest rate. Are witnesses asleep at the wheel?

in #witness6 years ago

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

Posted using Partiko Android

Sort:  

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.

Coin Marketplace

STEEM 0.19
TRX 0.15
JST 0.029
BTC 63398.53
ETH 2660.51
USDT 1.00
SBD 2.77