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RE: Bounty 20 Steem: Should we fix SBD?

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lightproject (64)in #sbd • 7 years ago

How about dinamically controlling SBD inflation based on an SBD price algorithm?

When SBD > 1$ each payout produces more SBD (and creates inflation)
When SBD < 1$ payouts release less SBD (therefore inducing deflation)

7 years ago in #sbd by lightproject (64)

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underground (67) 7 years ago

LMAO
That is EXACTLY what they are doing!!! I've been watching...

Measures ARE being carried out to "normalize" the SBD prices. I started watching this in mid December of 17 and the SBD in circulation was roughly 6 million units. It is approaching 11 million now. Steemit INC is inflating the SBD supply. Clearly the rate of inflation has been accelerated, nearly Doubling the supply in the last 3-4 months is an increase over what was done in the first 2 years. So STINC (steemit-inc) IS doing something about it.

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lexiconical (72) 7 years ago

You don't seem to understand how SBD works.

That is normal inflation. SBD in circulation is increasing with every post paid out.

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underground (67) 7 years ago

Built in adjustment. Even Better! Which was totally LEFT OUT and overlooked by the OP.

;)

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tspink (49) 7 years ago

I didn't see this comment before I posted my response below but this run along the same lines as my solution proposed below. Basically all thats needed is to create an algorithm that can influence the price of SBD according to the monetary price of SBD at any future time point (x). There any many ways in which this algorithm can be written. @lightproject just proposed one and I proposed another in my comment below.

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steem-bounty (72) 7 years ago

Congratulations! Your submission earned you 3.589 STEEM from this bounty. You have received 3.547 STEEM from the creator of the bounty and 0.042 STEEM from the community!

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