SBD Potato Day 56: DAO Proposal Funded and Post Frequency Updates
Thanks to everyone who voted for the SPS Proposal, the proposal has been funded and SBD has already started to be converted at a daily rate of 250 SBD. The proposal, however, is just over the threshold so any additional votes would be appreciated to keep it funded.
Even though the proposal is funded there are many stakeholders that wish to accelerate fixing the peg with daily post rewards in addition to the SPS funding, however we need to be sensitive to users who don't want to see the posts on trending every day.
Thanks to the magic development work of witness @stoodkev we have managed to automate the daily posts to 4 smaller posts capped at $25 each so they do not show up on trending.
These posts will be staggered over the 24 hour period and each will have 4 comments also capped at $25 each. If this still impacts negatively we can reduce the cap and number of posts to a min. of 2 per day as required,
All posts will have automatically updated API data with the latest debt ratio, SBD price and conversions in-progress data.
Get the @sbdpotato proposal voted on the Steem Dao and help fix the peg faster in addition to reducing dependency on trending page posts.
Direct Steemconnect Vote link:
https://beta.steemconnect.com/sign/update-proposal-votes?proposal_ids=%5B66%5D&approve=true
Proposal Info link: https://steemproposals.com/proposal/66
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:
Conversions in progress (API): 2611.806 SBD
Total conversions since inception (API): 15723.412 SBD
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): 0.644 USD
Current Debt Ratio: 14.032%
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.
When the @sbdpotato funds are no longer required to support the peg, they will be sent to @steem.dao where the community can then decide what they should be used for.
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
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
This post earned a total payout of 12.255$ and 9.214$ worth of author reward which was liquified using @likwid. To learn more.
Additional vote #2
This post earned a total payout of 12.038$ and 9.051$ worth of author reward which was liquified using @likwid. To learn more.
Additional vote #3
This post earned a total payout of 6.436$ and 4.839$ worth of author reward which was liquified using @likwid. To learn more.
Additional vote #4
This post earned a total payout of 6.336$ and 4.764$ worth of author reward which was liquified using @likwid. To learn more.
I think we all need to focus on figuring out if concerns issued by @phgnomo are valid. I really can't tell. But if he's right (I think he made very good point in his post https://steemit.com/sbdpotato/@phgnomo/how-sbd-peg-actually-works-or-how-the-sbdpotato-conversions-won-t-affect-sbd-price ), this whole action will achieve nothing.
EDIT:
what exterior exchanges are listing SBD?
Have a look at smooth’s comment on his post, smooth is an early adopter of Steem and co-founder of Monero, don’t u think smooth will have a better idea of what will and will not work? That post just bedazzles users with copious amounts of info so users think it must be right since there is so much data.
Being an early adopter doesn't mean that he knows everything.
Yes, I got a few things wrong about the conversion mechanics, but they are already correct, and yet, my conclusions stay the same.
And now providing users more info is now something bad?
A bad habit around here is that just because a witness say that something is true, everyone must agree, say amen, praise how wonderful the witnesses and shut up.
And everyone else that is critic about anything is always wrong.
I still don't think I am wrong. @sbdpotato is a useless project, won't achieve anything of value, and it even contribute to make steem image even worse than what already is.
I most certainly don't know everything but I do know that the effectiveness of sbdpotato in helping to restore the convertibility of SBD into $1 worth of STEEM (by reduction of the SBD supply, the debt ratio, and therefore the conversion haircut) is a mathematical certainty under a limited set of very reasonable assumptions (such as Steem having non-zero value).
Any claims to the contrary are either mistaken or deliberate misinformation.
You're a fucking retard. That's what I know.
$25 does NOT mean it won't be on trending, take a fucking look for yourself, retard.
People smarter than me such as smooth and stoodkev (who coded the cap on the autoposts) also didn't think it would land up on trending, it's an honest mistake to make, no name calling necessary.
Well, moron, they do. Quit fucking up the site with your worthless bullshit.
You're not doing ANYONE a favor.
Limiting the payout should reduce votes, given that people voting it higher than $25 are not only wasting their vote but also earning zero curation. It may not happen immediately as there are some programmed votes and people may make mistakes, but few like to continue pissing money away, especially larger stakeholders.
The first capped post got voted up to $53 ($28 worth of wasted voted), but the second up to $33, and the third up to $31. So it does appear people are figuring it out.
For me as a author this initiative feels arrogant. I guess it's the arrogance of investors towards content creators.
I know you mean that it is what people vote on, thus being ok. You could say the same about bidbots. De-centralized doesn't mean that the authors do not bear responsibility.
And if authors are not rewarded properly, but posts like this are, this platform will feel empty soon.
Bidbots are not what people vote on, they only vote on what they are paid to vote, so there is no opinion being expressed, just purely counting the payment (also known as a bribe).
No one personally benefits from the votes made here. The only gain to be had is seeing the results contribute to the success of Steem, which, ultimately, benefits content posters too. The number one contributing factor in lower rewards to authors is the decline in the price of Steem. Working or improve every aspect of Steem is in the interest of everyone, authors included.
You can disagree with the opinion of voters that this is a good use of reward funds, but it is still an opinion. Downvote if you like; that's the mechanism we have to disagree about rewards.
People also agreed to use bidbots...
anyways, don't want to nag any more, and trending... whatever.
I did reread the whole thing once again with comment section in particular. It made me support both @sbdpotato and @burnpost ideas.
Don't know if it will succeed, because SBD does not seem to me to have purpose - STEEM is widely listed on markets and it's rates to $ aren't very volatile
Sheep.
Bittrex.
There might be some others but be careful, there are reports of broken wallets and frequent withdrawal problems.
Good+
Отличная тема. Но есть минусы как всегда. Если бы довести до ума то было бы хорошо.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
NOBODY COMING TO THIS SITE WANTS TO SEE THIS FUCKING TRASH ON THE FRONT PAGE OF STEEMIT. FUCK OFF WITH YOUR WORTHLESS SHIT PROJECT ALREADY YOU FUCKING HALFWIT RETARD.
Great news
Thanks for the post.