Another excellent analysis. I think we have to find out what happened in May... just look at this chart:
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Observed this graph today too.
Wha knows how SBD mass could triple in a mere month?
I thought that the price of SBD was partly controlled by the witnesses to keep it at 1:1 with the us$?
I got that impression from this
https://steemit.com/witness-category/@sc-steemit/steem-dollars-below-usd0-85-increase-in-apr-requested-to-all-witnesses-voters
Here's a simpler explanation, bots are harvesting the carcass of the Steemit rewards pool and transferring the bulk of it out when it is aggregated.
Its a parasitic arrangement that ends up with the value of Steem continuing to be depressed due to the gaming of the system.
You mean like Bitcoin is doing every day with their miners?
Your statement makes zero sense.
Bitcoin "miners" secure the network and process transactions.
Bots on steemit self-vote and vote for other bot-owned accounts, shunting the reward pool to their aggregation nodes. This also reduces the amount available for those actually producing content for the platform.
So your analogy is deeply flawed.
Easy, the incentive to game returns intensified as cryptocurrencies rallied.
You can trade Steem for other assets, which were rising much faster than Steem ever did.