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RE: Addressing the Steem Dollar Situation
In my opinion (although I have no proof) purely people speculating and having no idea what they are buying. Theres not much of a reason to buy a peg and think it will go up in value, the purpose is to make sure it is $1 at all times.
See prof-pieters's response down below. It seems the peg is just a floor on the value of Steem Dollar but there's no ceiling and the value is allowed to go up according to demand.