RE: ❓Steemit Quiz 2025 - Week 6
I wonder what would have happened
On the one hand, I think that ‘we’ would have achieved a lot more in terms of further development as a complete, unfragmented group (okay, there's no better way to put it: as a blogger blockchain with a unique selling point). Perhaps even with regard to the crypto price of our coin. BUT there would always have been someone who is jealous of one person and doesn't begrudge the other the butter on their bread. That always happens when money is involved. So sooner or later there would have been ‘war’ again. Only the fronts would have been different, as the big, big stake would have been divided differently.
I'm feeling all doom and gloom again.
Don't! You're taking me down with you.
And I've just found joy in destroying and occasionally puzzling... ;-)
write a "Change Log".
Great and detailed!
I read it (of course, otherwise I wouldn't vote...), but once again I hardly understood anything. So please don't be annoyed if I don't comment - it would just be silly nonsense again anyway... ;-P
Yes, very true. It would never have been peaceful as those same idiots proved with their Korean war. Too stubbon, arrogant and proud to move on. Even now, they're not happy with their own empire!
Ok, I won't take you down 😆
I'm hoping that I can get one more set of changes in before the current proposal ends in a couple of weeks. Even if it's just a few bug fixes, I should try to get something done.
Then, I need to decide whether to put in for another term in office. There's still plenty to do but with the SBD price so low... and uncertainty as to what comes next with it, I'm feelings cautious about it. I'd have to ask for about 140 SBD per day, nearly 5 times the current proposal!
Decisions, decisions.
Puuh...
Is there any chance to get paid in STEEM?
I think it is absolutely necessary that you continue and document the development. Don't even think about stopping!
No, not even if you know that only about a dozen users will notice that something is happening (the others write diaries or learn...).
Steemit needs you. We need you. I need you... 😊
Since it's all from the DAO, I don't think there's any chance of an alternative payment currency - not even TRX.
That also made me wonder if people are so apathetic and oblivious to what's happening outside of their Steemit Education that there won't be enough people to vote for it this time!
Although in reality, if rme, upvu and steemchiller vote then it'll probably have enough again! And that's before all of my other wonderful friends vote for it!
👍
My obivious concerns being:
a) that we've not seen the bottom yet
b) that would be over 50,000 SBD selling pressure... which actually is less than 10% of the daily volume on HTX.
I never understood what was going on at upbit, but IIRC the crazy-high SBD prices started after that exchange added a trading pair, and seem to have gone away now that they shut down again.
Right now the price is nearly stable in comparison to the haircut threshold... ( $0.179 / $0.262 ) ~= $0.68, which (I believe) is roughly the same price you'd get if you used the blockchain's conversion mechanism. I don't think that's a coincidence.
Going forward, my guess is that the price will be loosely pegged to the price of STEEM as a ratio of the haircut threshold when STEEM is below the haircut threshold and loosely pegged to a dollar if the STEEM price is above the threshold. So, it might not be a bottom, but I think there are practical constraints on how low it might go.
Of course, that guess could be very wrong...
If the SBD ratio drops below the haircut ratio (and stays there), it would make sense to use the conversion function, instead of selling on the internal or external market -- which would not create selling pressure and would have the side-effects of reducing the SBD supply and increasing the STEEM supply, which would tend to drive the exchange price back towards the conversion ratio.
What's this haircut threshold and how does it work? I don't understand justyy's post and haven't heard about this before.
There's a pending trade on the internal market to sell 1.2m STEEM and buy SBD. I really don't understand what's going on at the moment!
This is going to be rushed, so I'll try to come back later and clarify, if needed. Overview:
Without looking very carefully, my off-hand guess on the 1.2 million STEEM order is that someone's hoping to be able to arbitrage between the market price and the conversion price.
Where does it get the market values from to make this calculation?
Presumably, this means that if the price threshold ($0.261905) is less than the internal market price (0.274 - 0.288), then that's the method to convert to STEEM, rather than the internal market or trading on HTX.
If he only gets 9800 STEEM, he'll be disappointed as he started with 10000. Having said that, his conversion price of 0.3 was much higher than probably should've been accepted.
There are some big trades on the internal market at the moment of people trading between STEEM and SBD.
It's just the number of SBDs in circulation, i.e. the current_sbd_supply value times the pegged SBD price ($1). @moecki posted more about this, here, with a helpful background link, here.
Better to have real references than me trying to remember things off the top of my head😉.
Yeah, mine was just a "back of the envelope" estimate. I don't really know what the median price has been during the past couple days and we don't know what will happen to the price in the next 24 hours before his conversion completes. I don't expect it to be far from 10k, either above or below, though. Not sure if he was expecting to get a $1 conversion rate, but I don't think that's how it works at current prices.