I thought it is because steem in equation to BTC is very expensive while SBD is fairer. 8K steem=1BTC while 1200SBD=1BTC. So better returns. I guess this is economics, behavior explains why irrational decisions are taken. Richard H Thaler guys had a point.
But why would they buy SBD and not STEEM? That's what makes zero sense to me.
Some investors just go blindly on coinmarketcap metrics without thinking AT ALL about the underlying technology or the real use case:
coinmarketcap says: only 3.6 Million units around, with the mention of an asterix (*)
Investors be like: oh shit, there won't be more of those, they are super scarce! Let's get them NOW..
(just another tin foil hat theory)
This sound believable. I don't know how traders operate, but do they really buy stuff without even checking out what the coin is like first?
Maybe they think SBD is the main currency. After all, the token labeling on Steemit is super confusing.
masterplan?
Yeah, that might be it :)
join the club :D
I thought it is because steem in equation to BTC is very expensive while SBD is fairer. 8K steem=1BTC while 1200SBD=1BTC. So better returns. I guess this is economics, behavior explains why irrational decisions are taken. Richard H Thaler guys had a point.
...of confusionist