RE: SBD Trading At $1.2, Closer To The Peg, Poloniex Still Disabled And Some Ramblings
Because the increasing split between SBD and dollar could have unexpected and undesired consequences for the entire STEEM ecosystem, Steemit INC, (or somebody who has control over the relationship with Poloniex in regard to that), decided to stop the influx of capital, so SBD pump can stop. This assumption is supported by the warning from Poloniex:
I think better explanation for this is just that Poloniex is having some problems with the wallet software and needs some input from Steem developers, but Steemit Inc is being again unresponsive (lack of focus and priorization). Or another but less probable reason is that Poloniex has found some real bugs from the wallet and Steemit devs are still trying to fix them. But it has been taking quite long time now.
Any technical issue can be fixed within 3 weeks. Or it has been even longer than that? I don't think this is a technical issue, otherwise Bittrex would have done the same thing.
I do think, though, that a part of the situation is somehow generated by Steemit Inc, but I'll hold any judgement on that. Things are, almost always, not what they seem.