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RE: The definition of vote collusion @cryptopassion et Al.
And if these people, or any of them, are helping SBD pump by bringing investors in, it is terrible because Steem is the solid and stable investment. Someone buying SBD $12 will be burned when SBD comes back to its pegged value of $1.
And they are guilty of treason to the platform that makes so much money if they could have brought investment into Steem but chose to pump SBD instead.
It remains to be seen how it all unfolds. I do hope that people's money is not burned in the dump.
is it really terrible since we can exchange sbd for steem and bring up the value of steem while sbd pumps?
before the pump we were sitting around 1usd.... so now the total value of the steemisphere has grown.... not sure what the big problem with speculators pumping sbd, obviously they do not participate in the platform or they would know that steem has the long term value
I'm actually not sure SBD aren't without long term value. They're notes, debts, like fiat currencies.
This may have implications for investors I am ignorant of. I am NOT the smartest guy in the room in that respect, I am sure.
The whole reason for SBD, IIRC, was to ease folks into crypto by providing a token pegged to the dollar, which they could then more easily grasp the value of. I know of no intrinsic harm that comes from SBD being valued more highly, other than the failure of that ease of familiarity.
I think SBD are a target for sophisticated speculators because of the very small supply of them, which potentiates the pump and dump.
Further, I have heard top witnesses say that the peg wasn't so much to keep SBD from going up higher than $1, but to keep them from going lower. It was this feature of the peg that could help cryptonewbs to have confidence in the token.
Great comment, I absolutely agree!
It is as it mostly is.
The rich get richer and the poor (uninformed or newbies) get poorer, because they follow a trend not knowing that the SBD price is surreal big and probably will go back to $1 again.
I think there are various reasons which lead to the high prices.
On one side I think this is manipulated of whales or big investors who want to get the big money.
On the other side there are I think the Koreans amongst others who put much money into SBD.
Maybe they didn't understand the system yet? Or it is clear intention..
I don't know, but something definitely is going wrong here..