SBD Potato Day 36: Make SBD $1.00 Again!
Conversion Report
Today 202.978 SBD was converted!
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): 0.710 USD
Current Debt Ratio: 14.22%
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 sectiona and pledge to vote for @sbdpotato daily and/or include @sbdpotato as a beneficiary of your own posts!
Additional vote #1
Vote do aur lu
This post earned a total payout of 4.913$ and 3.694$ worth of author reward which was liquified using @likwid. To learn more.
Additional vote #2
This post earned a total payout of 4.801$ and 3.610$ worth of author reward which was liquified using @likwid. To learn more.
sad part is it should be witnesses and INC doing this
How much SBD needs to be converted for us to reach $1 peg?
Market prices change all the time, of both Steem and SBD, it's hard to say, there are also intangible factors such as sentiment and fomo when SBD starts going up rapidly the market would move it the rest of the way. I think we would make significant headway once there is 2000 SBD being converted each day.
Apoyado!
hot potatoe
This post earned a total payout of 32.062$ and 24.107$ worth of author reward which was liquified using @likwid. To learn more.
😻
Is all this conversion etc automatic? Or is there a brain in the middle that has to manually convert, buy, convert, etc ...
I'm doing manually right now but will be automatic very soon.