SBD issuance question
I am trying to look up how SBD are issued
My understanding is that:
- sbd are issued at 50% reward for authors so long as the outstanding sbd are less than 2.5% of the market cap of steem (sbd are considered to be $1 even if exchange price is $10)
- between 2-5% of market cap the issuance percentage goes down gradually. Ie at 5% no more sbd are issued as rewards
- if there are more than 5% of sbd relative to market cap the the blockchain starts to pay less than $1 until 10% where it ceases to pay at all.
- when sbd are created the corresponding steem for rewards will simply be burned and the sbd printed
- when sbd are redeemed they are burned and steem printed
I wrote this all from rembering. But really im sure some of this is wrong and looking for some reference to look this up.
Any links are appreciated!
Update:
here some links from Dan (this one is old and does not answer my questions):
https://steemit.com/steem/@dantheman/steem-dollar-economics
This describes how sbd is limited and also safe.
https://steemit.com/steemit/@dantheman/steem-dollars-have-limits
Your answer is reading well. But look at this:
The data is from 2017-01-07. We have
Mcap (SBD) = 41.3 Million USD
Mcap (steem) = 1541.5 Million USD
The ratio amounts 2.67 Percent.
So if your information is right, we should already see a mix of SBD/steem payout for the free token 50%.
Or in the formula for the calculation of the Mcap it is assumed that 1 SBD is always 1 USD??
I will take an eye on it.
Bye the way: Can the information you provided here be found only in the code?
It should be written down in the papers, too!
I don’t know where else to find the information.
Thank you for your answer to my question. My comment intended to make things clearer. So we are both in line. I appreciated your comment. I dont know why you gave me a downvote, but I'm not grumpy about it. Perhaps you misunderstood the mood of my statements.
It wasn't maliciously intended or an expression of dislike. (I left a majority of the payout.) It seemed like a self-upvoted (or bot self-upvoted) comment. I have started downvoting these types of things when I come across them. I wrote an article about it explaining why if you want to read about it, but basically the idea is I think we as a platform need to start doing it more often.
Thank you very much for your answer. I agree 100% with you regarding the boosters. I have set some weeks ago a thight ruleset for myself as follows:
I have published this here (written in german):
https://steemit.com/deutsch/@freiheit50/booster-ohne-mich
I give all my voting power to other authors.
Regarding the upvote from @gentlebot above I dont know where it came from. I didnt order it.
So we both are fully in line. That great. Have a nice day.
Thank you!
Schau mal hier unten. Ich habe kurz gerechnet und den Kommentar von @timcliff ergänzt.
STEEM and SBD are never burned. The witnesses decide the ratio in which it is paid out as rewards.
If you enable 50/50 split reward on your post, you are actually getting 81% SBD anbd 19% STEEM as of right now.
This is a desperate attempt of witnesses to produce inflation and to get the price of SBD down again.
Are u sure. It looks to me like the payout is 50:50 still. assuming 1sbd = $1
Yes I am sure. Did you not notice getting way more SBD than STEEM from your posts? It used to be equal, but since two weeks ago, the payout ratio has dropped significantly. Just check your next payout on steemd.com You will see 70-90% SBD and only 30-105 STEEM paid out. It fluctuates.
The payout ratio used to be shown on steem.supply but @dragosroua removed it.
Here you go.
https://steem.io/steem-bluepaper.pdf
https://steem.io/SteemWhitePaper.pdf
https://smt.steem.io/smt-whitepaper.pdf
Thank you
Awesome, needed that clarification on SBD, since I noticed that SBD's would be given out in higher quantities than Steem when it came to author/curation rewards.
That's more difficult to answer since SBD is almost $10 now.. but I always calculate.
If a post has $10 in steemit then you have 10$-25% curation.
so you have $7,50 left. if you have 50/50 rewards.
You get 3,75 steem dollar which is now really $37,50 and you get 1 steem if steem price is $3,75. So all depends on the time when your post is made.
I hope this makes it a bit clear. or search some post on steemit which can explain it in more detail..
Actually that is not entirely correct: The witnesses have put the SBD | Steem ratio to ~ 75% | 25% to create a great market pressure. You can check the current average on http://steem.supply/
So we get more SBD than Steem.
This is incorrect. Look at my picture above. I got 48 SBD and 7.6 steem worth around 6.4 or so basically the same amount. i.e. 50:50 like @timcliff said.
This doesn't sound right.
This was actually quite confusing. Could you maybe make a video and explain this SBD issuing phenomenon a bit more clearly? That would help all of us understand the steemit reward system more. Maybe do a detailed video on how the whole reward system in steemit is structured and how steem and SBD are being generated and why SBD is no longer pegged to $1 as it was meant to be at the beginning.
your resource of SBD issue is really mindblowing
is resourcce hopefully help us
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thank you so @knircky
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@UPVOTE
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2018 is gonna be huge for Steem and BTC..Hopefully steemit.
upvoted
very useful sbd information thank you