The price of SBD isn't the issue here, it is the price of STEEM. And while I can't really say when the percentage drops have been the highest since I haven't studied that question carefully, I can say that the other day had a very large one day drop of 20%+, and also (and more significantly), the cumulative drop is the more important issue. STEEM has dropped so much that it no longer serves as sufficient for full backing for SBD. That is what triggered this issue, although most of the visible symptoms are caused by software bugs as discussed in the post.
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SBD or STEEM both have increased more than 20% in a day why didn't it trigger then?
you can see from chart above and below 1 day candles displaying price movement in a day multiple times being over 20% with the highest recent movement being a 70% change on the 2nd of january from $4.8->$6.90
would it be the rising of the debt % with HF20 that would have caused this? as far as i know the system wasn't originally designed for this wouldn't that be a more logical reason
The rising debt post-HF20 was a minor factor, and the trigger would still have been hit without HF20 (ceteris paribus). About 600K SBD was printed post-HF20 out of a peak of almost 15m. The cumulative decline in STEEM along with its pace is the biggest factor.
One can argue that the system is indeed designed to handle (and is handling) this since it does have the 10% max debt ratio rule. As I write this appears to be working, with the backing of SBD back up to 91c from a low of about 85c. Hopefully it will fully recover soon, though ultimately it depends on the STEEM price decline stopping or at least slowing.
Rising STEEM doesn't present any issues here, BTW, only falling.
not the rising debt the print rate of liquid steem after threshold it was to start slowly and build from 5% the change allowed this higher but obviously was too much at once
the SBD price was/is 91c nowhere
it is $1.12 on hitbtc but this is fake, average for the rest is $0.86c
via
https://steemworld.org
91c is (well was at the time I wrote; now closer to 90c) the current amount in STEEM that the blockchain will deliver per SBD to a matured conversion request. If you don't like the market price you can use the conversion feature but you must accept a 3.5 day delay.
i see for 15mins about $10k USD was traded on bittrex to get to 90c for 3 mins and fall again now back at 87c
yes i see the ability to stop a conversion has been removed for some reason and why hasn't the conversion function been restored on the most used portal steemit.com surely many users converting small amounts would add up to more than is currently and help stabilize the system as was in the past
There was never any way to stop a conversion. That would complicate things greatly.
There are positives and negatives to having the function on the web site, but there are numerous guides to how to do it for people who really want to.
dont see how this is an answer to why on site conversion of SBD wasn't made readily available again without having to use third party tools.
wasn't it to be restored after peg returned closer to $1 which it has been for over 9 months
and wouldn't it have prevented recent collapse of SBD $ rate