I love that sign!
I honestly think the issue is related to a foreign exchange picking up the currency, it going viral but since they are not participants on the platform they didn't understand the purpose of SBD compared to Steem and now it's too late, the damage has been done and now chaos ensues.
This was the first plausible theory I had heard. @lexiconical has forwarded the second, now.
Of the two I prefer the latter, as more likely to last, and neither accidental, nor devoid of beneficence.
seems like the best theory is technical analysis run amok... people investing in a run they don't understand the basis of
Indeed, although in this case, they may have effectively proven the so-called "peg" has no real teeth.
Investing is like a casino where you have better odds if you know what you doing but ultimately no one has control.
well said
This theory would certainly look a lot more likely if SBD experienced a drop as these same "dumb-money" investors panic back out of an asset they suddenly realize is "supposed" to be pegged to $1.
Not really, if you spent $14 on a $1 asset, how quickly would you want to go and sell it off at $1?
Also, the FOMO train has no brakes.
You mean there's no one running this train or able to stop it!!?!