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RE: Why is SBD well below USD?

in #steemit • 6 years ago (edited)

You can profitably convert, but you will most likely get less than 5% more than what you would get by selling

Sure, but that's typical at $1 as well. Market prices will flucutate but generally only with a small range of "fair value".

However, it must be caused by the higher IMP price

The code was changed some time ago to use the most recent witness update (a reasonable estimate of true market value, albeit up to an hour delayed) instead. However, this isn't working and it isn't clear why. That is being investigated.

So I see a solution just in an organic way; waiting for a price increase.

Both a STEEM price increase as well as declining SBD supply due to conversions could result in recovery. Most likely the outcome will be some combination, although as discussed above, a STEEM price increase isn't actually required. It does need to stop crashing though.

6 years ago in #steemit by
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     6 years ago 

    Both a STEEM price increase as well as declining SBD supply due to conversions could result in recovery. Most likely the outcome will be some combination, although as discussed above, a STEEM price increase isn't actually required. It does need to stop crashing though.

    Yeah. Now I see it more clearly.

    So if I am not mistaken, if I believe in a price correction, then it is probably better to hold STEEM (if the price does not stop right at the minimal IMP). If a price correction is not going to happen and the STEEM price is going to stay where it is, then the SBD will subsequently reach USD in some time. So SBD is now something like BFX coin after hack. :)

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