I'm guessing people are waiting for another pump to offload them?
It was a good call you made 6 months ago. If you were a witness, how would you set your price feed at present?
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I'm guessing people are waiting for another pump to offload them?
It was a good call you made 6 months ago. If you were a witness, how would you set your price feed at present?
I wouldn't be going negative. I think zero is fair but I'd still lean to a positive bias as long as SBD is above $1 and/or the debt level is over 2%
I know it is an unpopular view but I do think a gentle push into the high 90s is needed to create the incentive for SBD -> STEEM conversions to resume and reduce the debt level. If the SBD Purge can be gentle and orderly, spread over the course of a month or two then that is probably best case scenario for restoring system health.
Cool, thanks for the insight. We might give a small positive bias, although it's more of a token gesture in the grand scheme of things.
I suspect some are now holding their SBD for a pump, but if they can level off or STEEM goes sub SBD, then hopefully some will consider converting. That's what i'll be doing where possible.
You are exactly right I think. There will be some (maybe even myself) who would hold for the next SBD pump if the peg doesn't get fixed. But once it drops sub $1 the opportunity is there to convert to STEEM to re-buy at a profit and that's where the SBD destruction and debt reduction occurs.
Do you follow @burnpost?
I think it could be nearing the time for @smooth to take action with his experiment. If only the account had the same number of SBDs to convert (and then burn the STEEM) as @freedom 😁
No, though I am aware of the burn experiment that @smooth was conducting. It didn't make a lot of sense to me, but maybe I just didn't understand the point he was trying to make.
I think he just plans to burn the rewards at some point, when SBD is on a par with STEEM.
If it's not making sense to you then I'm probably missing something!