How to Vote for Higher SBD Interest Rates on Steemit

in witnesses •  5 months ago

Thanks to @lukestokes I just figured out the easy way to see what steem witnesses are submitting for interest rates. Now I can vote for higher rates.
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On steemd.com there is a witness tab.

Scroll over to the right and you will see an apr column. As you can see most witnesses use 0 interest but some are voting for 10-20 percent. I am going to only vote for witnesses with positive interest.

Sbd Underutilized

I think sbd is a powerful tool we are underusing. If it paid 0-10 percent it could really emerge as a nice store of value. Further if steem dollars become more popularized we could develop a nice market for using them.

Further if sbd consistently trade above $1 it makes the rewards that much more valuable.

To vote for interest paying witness...

First look at steemd.com to find witnesses paying interest here is a link

then go here from the menu at the top right

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And vote here ( you need your keys)

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Join me for only voting for witnesses that have a positive interest rate.

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But, that interest has to come from somewhere. Will the rewards pool be reduced because of it, or will more Steem need to be produced?

Also, introducing more SBD into the world makes it harder to tame its value and to keep its link to the dollar.

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Good point I think it means more sbd is created. Sbd increase virtual steem supply. I actually think we should increase the mix of sbd of the total steem supply. If sbd had a larger cap it could be used for purchases to save money as a money market type saving account. I think it would make the system stronger.

The pegging mechanism is so broken that SBD should removed from the blockchain. It doesn't make any sense to try to popularize a product that doesn't work.

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I like the sbd. I think the peg would work better if there was more supply of sbd.

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The pegging mechanism should be redesigned. So far nobody has been doing that, so the best course of action is to remove SBD from the blockchain.