RE: Steem experiment: Burn post #103 by azfix

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steem · @azfix · Apr 30 '18

Its not exactly clear to me, I think everyone with critical thinking skills needs to examine this more.

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@cryptoeater · Apr 30 '18 (edited)

I agree, I don't think this is helping us at all... 
However, after checking out the account's delegations, I have realised that the delegations are to bots that downvote spam etc, thus helping the rewards pool remain large for genuine users. 

I think a more effective method would be to keep delegating Steem Power to bots that help lessen the "reward pool rape" and burn all SBD rewards to maintain SBD price.

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@azfix · Apr 30 '18

Good investigative work, it would be nice to keep on an eye those bots. SBD was designed to be pegged at a dollar but was manipulated to gain a price well above that. I am cool with SBD going back to $1 as it was intended but everyone needs to be aware so they can plan accordingly. If they truly want to keep Steem Backed Dollar at $1 it needs to be consistent and not just a now and then thing.

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@cryptoeater · Apr 30 '18

Thanks! After getting home I read also read that the SP would be delegated to downvote bots only on @burnpost's initial introduction! 

What you say is true, however everyone's profits would be a lot lower if SBD was pegged back down to $1 as originally planned. However, I also feel like it's inevitable that SBD price drops down as it's essentially a useless currency with price artificially driven up by "speculation" (pump and dumps), so I convert all my SBD to Steem whenever I can, even if I don't plan on powering up! 

In regards to consistency, I also agree! If the price fluctuates a lot, chances are the price of Steem will fluctuate a lot. I don't care if Steem moons or not, I just want to make sure it doesn't drop too much.

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