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RE: Here's why Steem's witnesses should start paying SBD interest - today
I'd say they should focus on three things: (i) SBD conversions, since that's the primary variable that we're trying to minimize;
I do not understand why you are opposed to SBD conversions. SBD conversions are the correct and proper mechanism for getting excess SBDs out of the ecosystem.
Is that because we finally soaked up the excess liquidity, or is it because people paused their conversions when I posted this article?
It's not clear to me what counts as "excess" liquidity, but I believe the internal market was drying up for at least several days before your post. I doubt the people who have the ability to have a big impact on what SBDs are in which markets pay much attention to the social media aspect of the chain.
In general, I'm not opposed to SBD conversions. Reducing debt is generally a good thing. I am only opposed to them when they're doubling (or more) the blockchain's inflation rate, which devalues the STEEM token. That's what they were doing from February until June. As the graphs above show, that seems to have ended within the last week, but I hadn't realized it when I posted the top-level article.
I agree that the timing was probably coincidental. It looks like the SBD supply minimum occurred on June 1, two days before I posted. When I posted on June 3, data was only available through June 2, and it wasn't obvious that it might have turned a corner.