SBD Potato 2020/01/17 #2
Conversion Report
Now automated at 10-minute intervals, if there is STEEM present in the account the bot will sell it on the internal market for SBD at a max rate of 300 STEEM per cron interval, this rate can be adjusted in Config Vars.
Thereafter, all available SBD is placed into conversion automatically.
The code repository can be seen on this Github link.
If you would like to see the code in action, donate STEEM directly to @sbdpotato and watch the bot do its thing on https://steemd.com/@sbdpotato.
Feel free to follow the conversion progress via the links below:
Conversions in progress (API): 2,251.009 SBD (176 conversions)
Total conversions since inception (API): 15,930.13 SBD (780 conversions)
Vote for this post to help fix the Steem Dollar Peg!
In case you missed it; here is THE LINK to the intro post about @sbdpotato.
TLDR, you vote for @sbdpotato's daily posts and the rewards @sbdpotato earns will be used to purchase SBD on the internal market, convert it to STEEM (reducing the SBD supply) and then the converted STEEM will be used in a circular fashion to purchase more SBD - Rinse Repeat! That's basically it!
Today's SBD Price (Bittrex): 0.74 USD
Current Debt Ratio: 13.96%
Target Debt Ratio: 9.90%
What do you get out of supporting @sbdpotato?
Well firstly by voting this post you will be helping fix SBD to get it pegged to 1 USD again as it was meant to, this could also help bring the STEEM price up with it. There is a theory that the two are circular, a strong SBD gives support to healthier STEEM prices, perhaps due to positive sentiment in the network.
In addition to doing your part to improve the economy of the Steem network, you will also earn SP curation rewards from voting the post that hopefully get decent traction.
You can set the @sbdpotato account on autovote using a service like beta.steemvoter, by creating a stream to autovote the @sbdpotato account at around 4 or 5 minutes as per the screenshot below. There are also other autovoter services you can use if you prefer.
Conclusion and Disclaimer
All images used a royalty-free, courtesy of pixabay.com.
As custodian of this project I, @thecryptodrive, will not derive any monetary value therefrom and undertake this under my duty as Steem consensus witness and ambassador.
When the @sbdpotato funds are no longer required to support the peg, they will be sent to @steem.dao where the community can then decide what they should be used for.
I hope the Steem community will embrace this idea of supporting the SBD peg by voting the @sbdpotato posts regularly, alone we are powerless, together we can bring about change.
Sponsors
If you would like to have your banner featured on the daily posts, simply upload your banner in our comments sections and pledge to vote for @sbdpotato daily and/or include @sbdpotato as a beneficiary of your own posts!
Additional vote #4
This post earned a total payout of 12.106$ and 9.102$ worth of author reward which was liquified using @likwid. To learn more.
Additional vote #1
This post earned a total payout of 9.193$ and 6.912$ worth of author reward which was liquified using @likwid. To learn more.
Additional vote #3
This post earned a total payout of 7.008$ and 5.269$ worth of author reward which was liquified using @likwid. To learn more.
Additional vote #2
This post earned a total payout of 6.582$ and 4.949$ worth of author reward which was liquified using @likwid. To learn more.
Where goes the excess of rewards?
How do you calculate SBD/USD price when Bittrex does not list SBD on USD markets
if you have sbd/btc and btc/usd then you can calculate sbd/usd
It does not work exactly this way because you need to calculate one more commission in the process. This give you false information. Plus the trade volume at bittrex are very low
The commission on bittrex is only 0.25%.
Whether the volume is low depends on conditions.
Be cautious comparing volumes on crypto exchanges, because many exchanges and coins inflate their volume with sham trading.
Relatively low volume may indicate low interest, or just less sham trading.
I think it will be good if even those bittrex transactions will be shared in the post.
I don't think so
While
Coinmarketcap says
The price on internal market seems to be around
Coinmarketcap includes Upbit in their price calculation, but Upbit has not had a working SBD wallet for months if not longer. People are willing to sell there at a lower price because it is the only way to get their value out of the exchange. It doesn't indicate a market price for real SBD which isn't trapped there.
I would consider the Bittrex and internal market prices as closest to a fair market value.
If you mean excess rewards over the $25 cap, they simply aren't paid out and stay in the pool (to be used to pay other post/comment rewards).
If you mean excess rewards in the @sbdpotato fund when no longer needed to support the SBD peg, they will be donated to the Steem DAO aka SPS as stated in the post:
May sbd goes to 1 US$ again and steem rise much much more again
This post earned a total payout of 13.812$ and 10.385$ worth of author reward which was liquified using @likwid. To learn more.
Fuck Trumpisms. Downvoted 100 percent. Death to sbd potato and its racist support