SBD Potato Day 51: Potato Police!
Potato Self-Policing the Trending Page
Many of you will love this picture after seeing Mr Potato Head so often on trending, Some user are right in saying the project is paved with good intentions but is clogging up the trending page, we can understand that and will see what can be done. The idea is to get the posts automated in the next week or so and cap the max post earning to say $35 and issue 2 to 3 posts per day which stay below the top of trending, until then @sbdpotato will continue to post as is but will dial back on posting every second day instead.
The ideal solution is if @sbdpotato was funded via the SPS (Steem DAO) because then the trending page wouldn't be affected at all. Please vote for this proposal so we can rely less on the trending page for the @sbdpotato project: https://steemit.com/sbdpotato/@thecryptodrive/no-brainer-sbd-potato-top-up-proposal
It will also be great when communities are live because then such posts won't interfere with other communities. It is exactly this that shows the dire need for communities on Steem.
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): 1746.848 SBD
Total conversions since inception (API): 9961.853 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): 0.594 USD
Current Debt Ratio: 15.87%
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 Comment #1
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Additional Comment #2
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Steemit should have some build-in functionality to hide posts or not display them on the trending (like "spam" tag or something).
Yep! @burnpost and this one are ideal candidates for #donttrend
How do you keep milkers and scammers from using it to minimize the visibility of what they are doing? There is already a problem with people hiding milking in comments, and creating a ton of work for people trying to track that down and keep on top of it (generally unpaid or minimally-paid work at that). Do you really want to give them another tool?
FWIW my recollection was that the experimental tag used by @burnpost was once hidden (which was why I originally used it for @burnpost). I don't recall when it changed, but I'm really not sure it is a good idea.
Decentralized systems require us to think about not only how features can be used but also how they can be abused. Easily abused features need to be reworked, removed, or countered with some other offsetting benefit for the "good guys".
Finally, it may be ugly that these posts have visibility but is it "bad"? I personally think both projects are a benefit to Steem (sure not everyone agrees, and they should vote accordingly). In the case of @burnpost, when it had just a few whales supporting it, the rewards were generally around $20. As it started to get visibility, it also got more support, as more Steem voters saw the initiative and decided to support it. There is now a lot more burning happening as a result. Is that a bad thing? I don't think so, and neither do the voters who have joined in supporting it.
Cosmetics matter, but they aren't the only thing that matters.
By adding a button "show hidden" ;)
Seriously, steemit lacks so many functionalities that it's hard to believe. So happy that we have steempeak.
Annnd, problem solved.
Okay let's think this through.
One of two things is going to happen:
Also, you can use the mute button if you want to stop seeing this, right?
Those of us logged in and complaining about content from this accounts need to find the mute button.
I thought those concerns over the content were worried how it looks to the outside?
Precisely, for people who visit for the first time with no cookies and hit trending. People will mute and filter after they are already logged in if they have a modicum of technical ability.
The idea of a tag or similar feature that hides from not-logged-in users seems fine to me, probably a good idea.
That sounds ideal and also quite simple to implement. A Steem centric post, although I don’t think the topic should be out of bounds, could be hidden by an author aware the post holds little value outside - I’m not sure how many users are at this level of awareness/care though.
Hi @smooth
Firstly, I support and vote on both projects and have no problem with them earning visibility.
Had I not been getting off the bus this morning I would have mentioned the risk of users hiding posts from trending to escape peer review, that’s a fair point but easily solvable with a show/hide ‘hidden’ - same functionality as is in place for Resteems.
To some crypto educated newcomers, seeing a community burning its tokens could be a seen as a positive, but I get the feeling that most new visitors to steemit.com would be rather clueless to this ‘less attractive’ content.
Wishing you a good new year.
IMO there should be another welcome page that isn't a trending-type page that is based on votes.
I agree with you that for new visitors seeing the most voted content is not the most appealing content, nor is it ever likely to be a good variety that shows the broad range of what Steem has to offer.
Especially so for not-logged-in users who can't vote (up or down) on the content anyway.
Happy new year to you as well!
We could name a 100 things that we would want different but in the end we have to deal with what we have now and what we have now is 6-7 potato/burnpost trending posts.
You could claim those posts have value since people are voting them but there is no escaping that they are shitposts and whenever someone comes here they see those shitposts.
People that agree with my stance are in the overwhelming majority in numbers yet in minority stake. (Dig through the posts on this topic)
Stake does trump numbers here which is why everyone is trying to appeal to common sense of those running these projects.
This isnt a good look for Steem and another thing to consider is the creators that see towards what the rewards are going. This isnt encouraging anyone to remain here but rather killing motivation.
Im not saying we should be bound by what others feel and think but if youre a big stake holder you probably should consider it and weigh the pros vs cons when doing burnpost/sbdpotato type projects.
There was this dapp on Steem that was like quora. They had placeholder posts for their comments.
Why not stop making these Burnpost posts and simply vote comments, 10 of them a day at lower values?
Based on what? Speed of production?
The experiment is of interest to me and that’s why I vote the posts.
I for one would (and do) forget to vote these comments, and at present, these comments also appear in Trending.
Based on repetition of the same post content where 3-4 of the exact same post takes up trending spots. Based on low effort of the presented content. Based on justifiable assumptions of what those coming to steem will think seeing sbdpotato and burnpost taking the majority of the trending spots.
Comments wont appear if you spread the votes over multiple comments.
Use steemvoter if you cant remember to vote comments.
This could work if the number of comment are high (say 20 or 30 per day), and people spread out their votes on the lower value comments, but that's a bit of a leap, since you can't control where people vote.
Low effort is kind of irrelevant since the reward is zero. The ratio of effort to reward is more favorable than any other post in fact.
Now if other people want to make higher effort, higher quality posts and also burn a serious chunk of their rewards (maybe not 100%, but also not the token 3% that I sometimes see), they would probably get more votes than burnpost (since, yes, by intent and in fact burnposts do suck on matter of content), and this problem would be solved.
Despite being the creator of burnpost, I routinely direct my own vote power to other posts that burn and also have other value instead of to burnpost (which only burns and has no other value), so this is not entirely theoretical. I'm pretty sure I'm not the only one.
hey man, since you have an interest on this experiment, how about we start discussing with actual facts and knowledge, and not "guessing" if this could work or not.
Feel free to read what i wrote about the basic economic reason why this won't work:
https://steempeak.com/sbdpotato/@phgnomo/law-of-supply-and-demand-definition-and-explanation-or-why-the-sbdpotato-experiment-just-won-t-work
There is also a lot of other negative implications (besides trending pollution) than can come from this, and i am just doing a bit more research about it before writing about it.
Burnpost comments have about the same value as the posts usually (not always, sometimes they are somewhat lower), and comments still show up on trending.
I mean, make more of them. VP is limited, comments (realistically) arent.
Yeah I said the same thing elsewhere. 20-30 comments per day could help. But people may still pile on to the higher ones. I'll consider trying it though.
I was down voted and sent a threatening message for voting @sbdpotato posts. Interesting times!
I think they look terrible on trending also, but on the other hand they are true reflection of the current state of affairs so I have mixed feelings. Seems almost dishonest to hide them
So basically you need to convert 2.76 million SBD to in total + inflation over that time frame to reach your target assuming that somehow moves the market back to 1$ if that is in fact the reason SBD is trading so far below.
If you had all 215k SBD of the DAO fund today and where only losing 7% per conversions on average maybe after 110 days not including the new inflation you could reach your target? Some lazy math on my end for this last part its 3 am.
What is to keep SBD from doing this again?
My napkin math as follows 25k SBD dao proposal funding can be converted and cycled 104 times per year which means 2.6 mil SBD will be converted over a year, there may be some losses and some profits, some post rewards can be used to offset the losses or additional dao proposals could be done, before you even get to the 2.6 mil sentiment will pick up and boost the price due to fomo that sbd will rise and make you a quick profit if you buy at sub $1 levels.
Nothing to keep sbd doing this again but funds sent to the dao at the end of the project can easily be sent back to potato to do this conversion cycling again.
I think far less SBD is needed, the new SBDs printed go to steem.dao only and small part of it to projects. So on one hand we have limited supply, on the other constant demand.
Sbd will do this again. Don't worry. Better get on the pump train before its too late!
The simplest reason is demonstrated willingness of stakeholders to support @sbdpotato or something like it. This did not exist in the past and can be done more proactively in the future, rather than waiting until the imbalance becomes severe.
There are some other system changes which make the future unlike the past including the different print rate logic which makes large pumps less likely and some SBD printing shifted from rewards to the DAO, which both changes the print rate logic and also gives greater direct control over the amount of SBD entering circulation.
No guarantees can be made, this is still all experimental, but assuming the same outcomes because an earlier iteration of the experiment using different methods did not work out is not justified.
Thanks for listening - nice post & upvoted!
Nice post!
Additional Comment #1
LOL, Nice try!
ok
ok
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Oh i love this!
Thanks for being considerate. At least the posts are pretty cute, but yes, I think it looks bad to have them all over trending, in combo with the burn post.
On the other hand I guess that is what is "Real" here now too, so mixed feelings.
I do appreciate your consideration though.
Please follow me
Shit... I just realized that this sbd 🥔 thing just a perfect long term pump and dump scheme.
Can't say if the creators of this 'experiment' are aware of this or not....
It's a sad day for the steem blockchain...
I also will donate this picture for another alternate image for SBD Potato. It shows good humor and can maybe help get more votes. You can use with no need to credit and no STEEM tip required. My gift to the cause. Of course I will do what I can to help the stable coin become more stability.
How about we start having some real talk about the efficiency of this?
Here, let me start:
https://esteem.app/sbdpotato/@phgnomo/law-of-supply-and-demand-definition-and-explanation-or-why-the-sbdpotato-experiment-just-won-t-work
Would you be able to tell us the relationship between @sbdpotato and @sbd.bank?
Noticed multiple transfers but it does not seem to be explained or stated that sbdpotato converted SP would be used to sell delegations.
Is this a partnership? If so, it may be responsible for transparency sake to mention it.
I think is one-way support. On @bank.sbd they say that the rewards from the posts go as shares to @sbdpotato
@cardboard can explain it better.
Also, if you are supporting @sbdpotato please reconsider my friend. I started writing some arguments of why this won't have any real effect. Feel free to check it out.
I don't support it and think I share your sentiment about this sort of thing being manipulative of the market.
It's especially not good imo for this sort of behavior to be exhibited on Trending and could very well turn people off to Steem.
Not as much concerned about the alleged economic implications of the activity as I am the ethical aspect.
Anyways, I perused your post but didn't get all the way through it yet. It seems very thoughtful so I plan to do that.
Nice to hear there is way more people thinking beyond the surface about this matter than I thought!
THIS IS ALL A SCAM
Am I missing something or wouldn't this process be more effective if all SBD was burnt rather than converted.
This would reduce the supply of SBD without adding to the supply of STEEM. Aren't all these conversions just artificially adding to STEEM inflation.
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Stupid question: I’ve been upvoting @sbdpotato posts and comments fairly regularly, usually at 100% with 7k effective SP. But when I check SteemWorld for pending curation rewards, none of my votes for @sbdpotato are displayed. How’s that even possible?
Edited: never mind, issue resolved.
Thank you @thecryptodrive.
I am concerned with the Trending Page being flooded with @burnpost and @sbdpotato posts too. But if it is limited to a community, I wouldn't really have a problem with it.
Please start ensuring that the posts don't reach the Trending page ASAP, and if it's possible to set our downvotes to downvote once it reaches $35 USD's that would be good and it would be something I support.
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