Can Witnesses Regulate SBD Price Trough Bias Option?
Hi Guys,
So we've got yet another in recent days SBD pump - now beyond 3 US Dollars. There has been a lot of discussion whether this is a beneficial for steem ecosystem or not but SBD was always supposed to be worth 1 USD - or as close as possible.
One of the ways to decrease value of a asset is to increase the supply of it. Currently because the Steem is worth more than 1 USD, the Steem Dollars are created at increased rate - but it seems that it's not enough.
So, I've noticed that the Witnesses have something interesting at disposal - the Bias variable. You can see it here:
https://steemd.com/witnesses
As I understand, the positive Bias variable increases the "production" of SBD at the cost of less Steem. So it seems that it's an easy way to increase SBD supply. Yet, all Witnesses are reporting Bias at 0%. Is there something I am missing here?:)
I was always curious as to what bias did. It seems like this would be the time where bias would be useful to adjust, as you said. Great idea.
Oh! Some dreadful mathematical construction, not for the uninitiated.
Naah, more Bias -> more SBD -> lower SBD price (in theory:) But Witnesses don't want to do it?
Perhaps someone like @themarkymark or @lukestokes could answer that rather good question...
Cg
@tipu I want to inform that your SBD is being stolen by @null
Search for your username on the page
https://steemit.com/@tipu/transfers
Thank you for being cautious but this is how promote funcionality works :)
ok i got it...thanks for informing.
very logical question @tipu
Awesome calculation.
I noticed the increase in SDB as well.
In my opinion is think its cool.
What's the problem if SBD is increasing ???
Steem is demotivating everyone, so it's good that SBD is increasing on day to day basis.
Thank you for sharing :)
nice post,very good job,thanks for good sharing