SBD Potato Day 44: Make SBD $1 Again!
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:
Individual conversions in progress can be searched here: https://steemdb.com/labs/conversions
Total conversions in progress can be seen at: https://steemitwallet.com/@sbdpotato
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 (Spot): 0.601 USD
Current Debt Ratio: 15.42%
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.
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 #1
Additional vote #2
This post earned a total payout of 9.974$ and 7.499$ worth of author reward which was liquified using @likwid. To learn more.
Well, for what it's worth, have my tiny upvote. SBD getting back to $1 would be a serious game-changer, an exceedingly worthy cause, I should think.
Thanks for your support!
Thanks for yours. If what you're doing works, you will be the rising tide that lifts all our boats out of the fire.
This post earned a total payout of 27.007$ and 20.306$ worth of author reward which was liquified using @likwid. To learn more.
So this is good, you stopped the downfall of the price of steem for now, but what are you going to do to fix the blockchain so this action does not have to happen?
The next HF won't have any major changes so as not to add additional risk to an already complex HF due to SMT's being introduced. Maybe the one after that, personally I would like to see SBD evolve into an algorithmic stable coin like the DAI.
Next hard fork? or maybe the one after that? really? You are expecting to continue hard forking. Why can steem not find a code that we can stick with after 21 hard forks? And I was not talking about hfs, I wanted to know what are you going to do now with the current hard fork to fix things.
As I said the current hard fork is for addition of SMT code, neither Steemit Inc nor witnesses are comfortable adding any more complex code to it, so there is no more room to "fix things" at a blockchain level in this HF. Any fixes will have to be like this one, ie. 2nd layer.
Great post!
Well it's cool 😎 I think I'll go with this one. Nice one @sbdpotato
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Happy new year 🎊🎈🎆
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