It's nice to see STEEM on the rise after being down at or below the $1 mark for a while.
With the SBD-USD peg well and truly broken, have the witnesses given up trying to implement any interventionist strategies, and are they just letting it run loose, and riding this one out to see where it goes?
As far as I'm concerned, as a witness, all I can do right now (and all other witnesses can do, AFAIK) is to adjust the price feed bias. I've been adjusting my price feed bias for two weeks now and as you can see the rewards split gap is widening, inching towards 70/30, meaning more SBD are printed, in order to increase supply. Other than that I'm afraid not much can be done at the moment. The total supply of SBD is under $4 million which, at the current volumes traded in crypto, makes it very vulnerable to outside market manipulation.
Thanks. I noticed the ratio creeping up to 70/30 as well. I suppose there is very little you can do when the market is so strong. You also don't want the total SBD supply get too high vs the STEEM market cap either (debt to ownership ratio) , so as long as the STEEM price keeps up we should be fine.
If some BTC whale steps in with a few hunderd thousand dollar, then he could basically control the SBD price, without too much schemes.