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RE: The accumulate, pump, and convert strategy to show that the proposed two-way SBD peg can be abused
Thanks for the current analysis.
The fee would only help if the SBD price was higher than 1 USD maybe. And maybe they would turn this mechanism off once 1 SBD is near 1 USD?
By the way, do you see this as something that can be done repeatedly?
Yes, I can definitely see it being done repeatedly especially after powerdowns remove the scarcity of liquid STEEM and bring the price back down to a non pumped up level. The cycle concept you've mentioned in some other posts could possibly be used to create an artificially low pumped-down price to maximize the amount of STEEM you can accumulate in the next phase 1 when converting the massive amounts of SBD you got from your previous phase 3 into STEEM. Every time you repeat the APC strategy could be more profitable than the last time because each time you could use your profits to accumulate even more STEEM in phase 1.