I hear you, but again. It has the same effect as what I'm saying. For example: netuoso has a bias, and I found where it shows in steemd:
In the end it's the median of these prices that are set that determine the feed price the blockchain uses. Yes it uses the USD STEEM ticker as the base, but my point still stands.
(We could easily swap the feed for something else and get everyone to pin it to something else like gold which is what golos does, but I digress.)
ok, now I see where I was confused... what the bias does, is actually change the pricefeed at the blockchain level... so yeah,ok.... sorry!!!!
https://steemit.com/steem/@fow/aggressively-forcing-sbd-peg-by-adjusting-feed-bias-witness-digression
:blushes:
sorry for arguing in circles with you.
but bias doesn't effect the price feed, only the way that rewards are handled... which is what I thought, until I read this article just now
https://steemit.com/witness-category/@timcliff/witness-voting-guide
which states that the bias is a way to effect how conversions are handled, and says nothing of how rewards are handled... I guess I'm going to do more reserach... the whitepaper has nothing on bias :(
That's because the white paper only mentions the feed price. Bias is just a convenient way of expressing how much we are deviating from market price.
Everything in the block chain uses the feed price to convert to and from steem and sbd.
I should mention I had this same confusion when comparing the white paper to steemd witness page settings and the bias discussion.
faaaak my brain doesn't wrap around the maths as well as I'd like it to... much thanks to you for your previous work, and now for helping me closer to understanding.
Yay @eonwarped that's our genius and as I can see so many people go to you! You will be a mill before all of us and well deserved too. xoxo