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RE: The accumulate, pump, and convert strategy to show that the proposed two-way SBD peg can be abused
So would it be wise to hodl STEEM and not SBD then? I've been sitting on my SBD because I've been used to getting more STEEM out of it, and I've been waiting to purchase STEEM because I'm hoping it goes back down a bit, but that may not be the case. If I'm reading this correctly I should probably try to get more STEEM, especially if SBD is going to be pegged at 1USD
The two-way SBD peg at $1 is just something the witnesses are considering so it may or may not happen. However, if the two-way peg does go into effect then SBD would likely go to and stay pretty close to $1 so if you think the proposed two-way SBD peg is likely to be implemented, then it would make sense to sell SBD now before it goes to $1. However, even if they don't implement the SBD peg there are lots of reasons to think SBD will go back down to $1 anyway so if I was holding a lot of SBD right now I would probably be in a hurry to sell it at its current price of $3.
Thanks for the information :)