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RE: Curious what price of STEEM we need for SBDs to start printing again? Be curious no longer!
I believe it should probably be based on the virtual supply, not the current supply. According to a script I slapped together some months ago, it would start printing SBDs at 0.252 and it would print only SBDs at 0.28.
Price: $ 0.234
STEEM supply: 464704989
SBD supply (cap): 11713142
STEEM Market Cap (calculated): 108740967
SBD supply (cap) / STEEM CAP: 0.1077
SBD print rate: 0 (calculated), 0 (queried)Lower threshold: 0.252055
Upper threshold: 0.280062
I have been under the impression it is based on the total STEEM supply for years now. Do you a link to the info that says it's virtual supply?
I don't have a document, but the comments to this post have a reply from @moecki with a link to the relevant code in the github repo.
Interesting. Well hopefully that is correct as it would then take a lower steem price for SBDs to start printing again. :)
I watched it pretty closely the last time it went above and below the thresholds, and it lined up pretty well with the numbers from that script.
Were you watching the 3.5 day average price of STEEM because that's the price it uses for print rates, correct?
From here, I think it uses the median price from the feed history, so that's what I was watching (and what is displayed as "Price" in the sample output I posted above).
Curiously, it seems like the block explorers and the get_current_median_history_price API call stop tracking the actual median once it drops below the 10% threshold, so I think that the reported median from Steem World might actually be the threshold where SBDs will start printing again.
According to my calculations the current median is actually, $0.234, and the 10% threshold is 0.252057 (which rounds to 0.25206), so I don't completely know how to explain the value that Steem World is reporting for the median price - even though it matches what the API call says. Maybe @steemchiller can clarify.
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