Following certain witnesses price feeds adjustments, the SBD / STEEM rewards are not split 50 / 50 anymore (even if you choose that option when you publish a post). There's a bias towards SBD, as more SBDs are printed, to increase supply. At the moment of writing, the total SBD supply was 4,275,416.
For the last 2-3 days, I've been monitoring the split, which varied based on the witnesses price feed. I think I saw a pattern in which the split stabilized (for now) at 75% SBD and 25% STEEM. On the internal market you get a little less than 3 STEEM for 1 SBD.
Just a short reminder that STEEM is the base currency in the STEEM blockchain and SBD is merely a sort of a "smart contract", which was initially designed to be pegged to the US Dollar, with the underlying intention to offer a stable currency. Lately, SBD peg was broken upwards, with prices up to $14 for 1 SBD.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
Hey @dragosroua,
can you tell me if my calculation for the author rewards is wrong?
Let's say Post has a vote value of 1$.
This 1$ minus max curation is 0.75$.
Out of this 75% - 0.563 is paid out as SBD and 25% - 0.19 is paid out as STEEMPOWER.
Is that right?
Yes. But at the moment the entire display is skewed. You may see a reward of $10 near your posts, out of which $7.5 should be yours, but you will never get 75% = 5.625 SBD + 25% = 1.875 STEEM. You will probably get a little bit lower. I suspect this is due to the massive imbalance in the SBD peg.
Because that $10 is probably worth 5.635 * 9 = 50USD+ 1.875 * 3.2 = 6USD = 56USD!!
Dragosroua - I replied to therealwolf, but take a look a my posts, a lot of people don't seem to realise that the SBD reward is still calculated on 50% the after curation vote figure, while the SP part of the reward varies depending on whether the price of steem goes up or down.
Right now, when you convert all the reward to steem or dollar value, the SP portion doesn't even make up 25%, in fact more like about 12% !!
Yes, I know that.
I just took a look at the most recent reward I claimed this morning from a post 7 days ago.
The total vote value was $9.36 , of which $0.44 went to curators, leaving $8.92
For the actual reward, I was received 4.458 SBD and 1.374 Steempower.
4.458 SBD is worth about 12.1 Steem on the market, plus the 1.74 SP (worth the same as steem) equals a total of 13.84 Steem
So, according my my calcuulation, the SBD part of the reward is roughly 87.4% of the total now, even more than the 75% you mention.
I think the actual vote $ value on your posts is supposed to be roughly what they're worth in USD, but as well all know, the SBD was intended to be more or less tethered to the value of the USD, and that aspect seems to be broken (don't ask me how)
The Steempower part of the reward, 50% of the $ amount shown under the post actually still more or less correlates to that figure however, in my example 1.374 steempower I received is worth roughly 50% of the $8.92 amount (ie $4.46 USD) - 1.374 x 3.30 = about 4.5 dollars?
Complicated I know, but just re read my figures and check your own rewards against the $ vote figure under you posts.
it's broken because the SBD supply on the market is relatively low, and exchanges are easy to manipulate at this amount of $. Witnesses are adjusting their price feed bias to increase the SBD supply. I wrote about that a few times, including in my weekly witness updates.
@kingbrianboru
hm. I see. Man - this is really f* up..
I just spent a while trying to explain 'cos people may be thinking they're making more money than they really are.
But the rewards on steemit are still great compared to a couple months back lol
They are extremely great! But thanks for letting me know!
Btw, in your example, if the after curation reward is $0.75, then the sbd reward will be half that figure, ie. 0.375 SBD
The amount of SP you get will be dependent on the value of steem on the market at the time of reward, but it should be the amount of SP that is worth 50% of the after curation vote figure, ie. 50% of the $0.75 which is $0.375 which means right now you would get about 0.11 SP, not 0.19
Again, just go to steemd and check your most recent reward against the $ value (after curation) on the post.
You'll see my figures are correct ;)
@kingbrianboru
Yes, you're right!
The split between SBD and STEEM IS NOT 50/50 anymore, because of the price feed bias adjustment. I wrote about this several times. Witnesses increased their price feed bias, which means more SBD are printed, to increase its supply.
hmm, SBD should ideally be worth about 0.3 steem right now, quite a difference!
Lol
well its profitable.... i get 25% sp and the rest in sbd, i spend the sbd and buy more sp than i could get from a 50/50 split
wow good to know and thanks for sharing :)
It’s only gets better for us from here , as we see the market increases
Even with the high price of SBD (trading at $9,3 right now) we're still only at a 5% debt as STEEM has increased in value as well.
An increased printing of SBD to settle the markets high demand is probably a good move.
Yes, the debt-to-ownership ratio is still small. A prolonged imbalance will destabilize the system, though.
Later edit: as long as the price of STEEM keeps increasing, the SBD goal should be to remain stable, no matter the value. As long as SBD is stable and the debt-to-ownership ratio doesn't get screwed, SBD can trade higher than $1.
The past week it was inching to 75/25. Now we have a solid explanation why is it happening. A very big thanks to you sir!
And as always, awesome steem.supply site. :)
I never understood that.
I guess I really don't need to.
Just cash in my SBS's at a YUGE profit
while I can
Can you tell me @dragosroua
Will SBD value increase further or not?
I really have no idea.
Aha! I wondered about that, that's a great move :-)
Cg
I think you wrote about it few weeks back too right? anyways thanks for the information, always have been following your work.
upvoted :)
Yes, I wrote about the price feed bias adjustments, this one is to signal the stabilization of the split.
Stablization of payouts with 75 to 25% will likely increase the steem market as more sbd will be available to get converted to steem, provided you want to!!!
Can't we increase the bias to 100% SBD instead of 75%, so that SBD gets back to normal faster?
the bias should be increased with care, because it can imbalance the whole system.
So now its harder to get Steem Power for Newbies
Past week the split was even more then 75/25. as we used to get more than 4 steem for 1 SBD.
it's not about the trading course of SBD and STEEM, but about the ration of SBD and STEEM you get in your rewards.
Okay Thanks.
Interestingly @dragosroua, I was intrigued if it was really a 50/50, or if the value was fluctuating, or even if it varied depending on when the upvote occurred. Thank for the info :)
Looks like SBD will sonn gonna come to the dollar mark
upvote me thank u
https://steemit.com/steem/@dragosroua/steemit-newbie-faq-netiquette-how-to-avoid-being-a-steem-douche
haha, great reply!
Steemit is a good source of earning. Love stemit sbd
wow really very good news friend.....
thnx for share
i used to think why i am not getting the same amount of steem now i know that reason it was this split thanks for sharing