Hi - this is excellent, very clearly explained. I just did a freeze frame and knocked this up which I think adds a level of clarity (maybe?) - NB no idea if this is going to be clear in the comments.... If it's not and it's within etiquette bounds I'll shove it into a post later. -Edit - it opens in new tab just fine, so fine!
It basically just clarifies that the SP delegated from the rewards pool is 45% of total virtual steem inflation while the steem dollars are 30% of total virtual steem inflation (*by the current value steem to convert into steem dollars).
I can see it's not an easy thing to explain - as a professional teacher - good job.
NB - a good follow up could be a re-run based on what this year's/ months (dunno how often inflation is calculated) actual inflation figures.... then of course another version with the current SBD exchange rate.
Anyways, excellent job, I appreciate the effort you put into these vids.
Thanks! Yeah, the total percentages is a helpful addition. I'll consider attempting a version with real current numbers... if I can track them all down. Thanks for the suggestions!
This was a GREAT video! I think the visual representation of the Steem Dollars getting converted at different Steem prices is very helpful for people! Hopefully the witnesses don't have to power down all of their Steem Power to cover their expenses! I hope you're doing well! Have a great New Year and a prosperous 2018!
Probably your best video yet in terms of using diagrams and narrative simultaneously. Looked really crisp!
You did well making the info clear and concise too, although I'm probably going to have to watch this one more time if I ever hope to explain this to anybody else lol.
one thing that sparked my curiosity... those 15% to steem power hodlers, how is that distribution taking place? Is that supposed to happen through the adjustment of MVest2SP ratios or actual interest?
Thanks! Your SP balance slowly goes up over time but it's easier to see on a big account. Go to @ned's wallet and if you keep refreshing the page you'll see that it's constantly going up.
Oh wow... that's crazy looking at @ned's wallet ticking up continously.
Now I am still wondering "how" this happens on chain... I don't see the Steem/MVest ratio changing (at least not visibly) though I do know it does get adjusted over time. Hmm... I'll probably need to do some digging myself!
Thanks for the swift reply and the great visual example!
I still dont understand WHAT is supposed to keep the SBD worth 1 USD ... everyone seems so suprised by this - but wont the freemarket decide, and continue to decide its value?
The mechanism for keeping it pegged is basically the same as USDT... and that's working just fine. The main difference is volume and understanding. As SBD supply grows and everyone understands that an SBD is always convertible for $1 usd worth of STEEM, the price will start to reflect that IMO. Right now there is nothing keeping SBDs from trading higher but there is something keeping it from trading lower than $1 usd. If SBDs trade lower than $1 usd there is an arbitrage opportunity in that you can just keep buying them and converting them into 1 usd worth of STEEM. That arbitrage opportunity always brings the price back up to $1. And... if SBD every becomes easy to short... than that would also put a lot of downwards pressure on the price back to $1.
Thank you for your reply... It is becoming clearer now, but I guess the main force for SBD being so valued right now is --- bots and Hodlers? It seems to be the main currency accepted by the bots.
That is an incredible visual. Well done with the lighting, the illustrations and the organization. Very professional. You made something very complicated look simple. That is an art. Great job.
Hi - this is excellent, very clearly explained. I just did a freeze frame and knocked this up which I think adds a level of clarity (maybe?) - NB no idea if this is going to be clear in the comments.... If it's not and it's within etiquette bounds I'll shove it into a post later. -Edit - it opens in new tab just fine, so fine!
It basically just clarifies that the SP delegated from the rewards pool is 45% of total virtual steem inflation while the steem dollars are 30% of total virtual steem inflation (*by the current value steem to convert into steem dollars).
I can see it's not an easy thing to explain - as a professional teacher - good job.
NB - a good follow up could be a re-run based on what this year's/ months (dunno how often inflation is calculated) actual inflation figures.... then of course another version with the current SBD exchange rate.
Anyways, excellent job, I appreciate the effort you put into these vids.
Thanks! Yeah, the total percentages is a helpful addition. I'll consider attempting a version with real current numbers... if I can track them all down. Thanks for the suggestions!
I'm trying to put together links to all of the best 'explaining videos', you'll definitely feature! I
real actual numbers would be amazing!
This was a GREAT video! I think the visual representation of the Steem Dollars getting converted at different Steem prices is very helpful for people! Hopefully the witnesses don't have to power down all of their Steem Power to cover their expenses! I hope you're doing well! Have a great New Year and a prosperous 2018!
Thanks @sevinwilson! Happy New Year!
You're welcome!!
Probably your best video yet in terms of using diagrams and narrative simultaneously. Looked really crisp!
You did well making the info clear and concise too, although I'm probably going to have to watch this one more time if I ever hope to explain this to anybody else lol.
wow... amazing job... i learned tons just now!
one thing that sparked my curiosity... those 15% to steem power hodlers, how is that distribution taking place? Is that supposed to happen through the adjustment of MVest2SP ratios or actual interest?
Do you have a quick answer?
Thanks! Your SP balance slowly goes up over time but it's easier to see on a big account. Go to @ned's wallet and if you keep refreshing the page you'll see that it's constantly going up.
Oh wow... that's crazy looking at @ned's wallet ticking up continously.
Now I am still wondering "how" this happens on chain... I don't see the Steem/MVest ratio changing (at least not visibly) though I do know it does get adjusted over time. Hmm... I'll probably need to do some digging myself!
Thanks for the swift reply and the great visual example!
I still dont understand WHAT is supposed to keep the SBD worth 1 USD ... everyone seems so suprised by this - but wont the freemarket decide, and continue to decide its value?
The mechanism for keeping it pegged is basically the same as USDT... and that's working just fine. The main difference is volume and understanding. As SBD supply grows and everyone understands that an SBD is always convertible for $1 usd worth of STEEM, the price will start to reflect that IMO. Right now there is nothing keeping SBDs from trading higher but there is something keeping it from trading lower than $1 usd. If SBDs trade lower than $1 usd there is an arbitrage opportunity in that you can just keep buying them and converting them into 1 usd worth of STEEM. That arbitrage opportunity always brings the price back up to $1. And... if SBD every becomes easy to short... than that would also put a lot of downwards pressure on the price back to $1.
Thank you for your reply... It is becoming clearer now, but I guess the main force for SBD being so valued right now is --- bots and Hodlers? It seems to be the main currency accepted by the bots.
That is an incredible visual. Well done with the lighting, the illustrations and the organization. Very professional. You made something very complicated look simple. That is an art. Great job.
Thanks... glad it's working!
Really awesome videos. I've been sharing your STEEM101 vids with friends and family because they really help explain it well. Thanks @dan-atstarlite
Thanks man! Happy New Year!
Happy New Year to you as well! Looks like it's going to be a great year for the STEEM community :)
Interesting, so actual inflation goes up if the price goes down from where the virtual steem was created and vice versa if the price goes up?
Yeah, just if SBDs are converted at a lower price than they were created.
As always ... super-informative... great job Dan
Happy New Years tonight, to you both! Have an early kiss on me.
heavy breathing