Why is SBD moving so strangely?
So if 1 SBD is equal to 1 dollar, then according to that ratio, the number of Steem tokens that can be bought for 1 dollar should be equal to 1 SBD. I am not on this platform for that long but I have analyzed the historical data, earlier SBD used to be equal to 4-5> dollars, I don't know how because it is against its simple definition (SBD = Steem Backed Dollar) and now for the last few weeks it has become cheaper than 1 dollar, the same 1 dollar that backs it. How?
I don't remember exactly but maybe a month and a half ago when Steem was trading around 0.20 I analyzed that the price could go down further so I converted about 250 Steem liquid to SBD thinking that when the price actually goes down I would convert it back and generate some extra returns. And the price went down to even below 0.12 but the value of SBD never went below 0.17-18. This is very unfair and seems like cheating as if someone is controlling and manipulating its price.
Even the current Steem price is around 0.14 on both Binance and coin marketplace but SBD to Steem value is still 0.17-18. Seeing all this, I really feel cheated. Although it is giving me a profit of only 0.02 cents right now, I did not do that analysis for a few cents, especially when I can see that according to the marketplace price, this token had seen a dip of up to 40% and even at this time it is down by around 35% from 0.20. I don't know how you see it, but I think such controllism takes this token away from trading and investing and towards gambling. Please correct me if I am wrong!
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Thanks for sharing your analysis about SBD moving .
It is a great post of Why is SBD moving so strangely.
I noticed this myself, but I was also disappointed because I had this problem myself,
And no one knows the solution, that's really bad!
What do you think? Will Steemit do developmental work? If these problems are not solved, Steemit will fall further behind,
I am not an expert in all this so I don't know what they should do except that they can stop controlling these instruments so deeply. A common user/investor wants that his trust should not be played with in any project that's it!
As a general user, my opinion is that this platform should be further improved, various services should be added, such as a chatting service should be introduced so that users can communicate with each other, various innovations should be brought, if you add stories, videos, etc., it will go very viral,
Talking about the whole platform, I also have many amazing ideas, like the option to add emojis and gifs while writing will help add expressions with our words, which will help all the users to connect together. Also, if there is an app for blogging, then it can work to connect many more users to this platform.