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RE: Why account values (and a few other things) are messed up

in #steem6 years ago (edited)

I don't know why you think I have to know about every peer to peer network. And yes, of course there are peer to peer networks that are not centralized, but I said that every web site is centralized and that includes the zeronet.io web site (not the network).

I never said delegation was "good" (at best it has been mixed in terms of positives and negatives), only that it is important to the economy and it isn't supported by steemit.com's UI. There are plenty more, like creating accounts. What is more important than people being able to invite and sign up their friends? There are ways of doing this but they involve third party sites.

I don't agree that bot owners had anything to do with the SBD pump. Most of it probably originated from Korea exchanges, but certainly from external crypto speculator exchanges. It was driven by people buying (probably using appreciated BTC profits) all sorts of alts after the huge runup in BTC, and probably not even knowing what they were buying. In fact, a number of other pegged coins were also pumped around the same time, but they generally had better ability to maintain their price. This was occurring due to factors external to Steem. What was internal to Steem is how the SBD pegging mechanism was able to respond to it (poorly).

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zeronet isnt the access point it is one of the locations you can download software similar to a wallet this is how the network is accessed peer-to-peer with no central server = decentralised

you dont have to know every network but how you didn't know about namecoin that started in 2013 and was in the top 20 for years and also is one of the few that actually had a good use case from the beginning to this day.

on the source of pumps being from south korea exchanges i struggle to believe you think this as it looks like you are one of the most active traders and surely you know the least amount of supply was on korean exchanges and if price was to rise there price feed should have been discounted and other exchanges notified of outlier as it isn't a true price discovery when the least amount of the supply has the greatest effect on price

anyway the big SBD pump began on bittrex on 22 Nov 4 months after upvoting bots were going strong and was the only volume leading to price discovery as in users buying for a specific purpose.

yes multiple pegged coins have changed a lot in price and are not pegged at all SBD having the largest changes in price means it is far from a pegged asset or a stablecoin

after reviewing charts i can see SBD price deviated a lot multiple times prior to HF19 and this didn't seem to break the peg which happened proper last November

the least amount of supply was on korean exchanges

One of the Korea exchanges has a shared order book with bittrex which has the most SBD supply. In fact it was even a bit odder than that. Traders on the Korea exchange were able to trade on a shared bittrex order book but, unlike traders on Bittrex itself, were not allowed to deposit or withdraw (except maybe in KRW, I don't remember the details exactly).

anyway the big SBD pump began on bittrex on 22

Hmm. See above.

i can see SBD price deviated a lot multiple times prior to HF19 and this didn't seem to break the peg which happened proper last November

It was broken in the sense of a sustained period above $1 (with numerous spikes, one as high as $30) for a couple of months after HF19. The November pump/breakage was larger of course, due to the larger external factors in the rapidly rising crypto markets (first Bitcoin then alts).

Nevertheless in my opinion the underlying root cause of the breakages, including the one that started in November, is the lack of an upper peg. It is just that up until that point market conditions happened to be such that it wasn't needed (generally weak conditions in crypto markets, including STEEM, tended to push the price down, for which a mechanism exists, more than up).

how you didn't know about namecoin that started in 2013 and was in the top 20 for years and also is one of the few that actually had a good use case from the beginning to this day

No idea what you are talking about. I was one of the first miners of namecoin as well as one of the first people to design and develop a crypto-to-crypto exchange (which initially supported NMC and BTC and was designed to support what I expected to be a growing population of such coins) but never went live because of poor and declining market conditions and legal concerns).

Namecoin was launched in 2011 not 2013, btw.

what exchange share sorderbook with bittrex?

in 2017 SBD was over $1.3 for at least 3 months going to $6 one day how didnt this break?

and if such an issue why dont witnesses use other SBD changing parameters as in the bias

namecoin is used to create websites with zeronet

if you mined how did you use before?

what exchange share sorderbook with bittrex?

I don't recall. The odd setup was explained back then by @clayop, a witness and member of Steemit Korean community.

in 2017 SBD was over $1.3 for at least 3 months going to $6 one day how didnt this break?

I don't understand what you mean by break. Different shocks have differing effects, depending on magnitude, system conditions, duration, etc. Even now SBD is slowly in the process of recovering: The peg-to-$1 price for STEEM has declined from 0.415 to 0.403. Unfortunately STEEM has continued to decline in price but unless it continues to decline to zero, eventually SBD will likely re-peg.

and if such an issue why dont witnesses use other SBD changing parameters as in the bias

Bias has undesired secondary effects including increasing the total Steem inflation rate. It isn't an effective tool.

namecoin is used to create websites with zeronet

OK, sounds cool. I haven't followed namecoin recently.

if you mined how did you use before?

I'm not sure if I understand this question. Maybe you were asking how I used namecoin? At the time the only way was the original (forked from bitcoin) command line tools and a proxy you could direct your DNS to make use of namecoin names.