I agree with you about the potential unseen value of Steem, but I am also waiting to see if they plan to try and keep SBD pegged to the dollar like it has been stated. Do you think Steem will go down if they decide to use the controls in place to keep SBD pegged to the dollar?
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I personally doubt it. The value of STEEM is controlled by other factors. What I'd like to know is, who's buying SBD and why??
That is a very good question, I know witnesses control the interest rate paid for holding SBD. I noticed as the price of SBD went up so did the price of Steem. If we knew the reasoning behind the heavy SBD buying we would probably all be in much better positions.