I still have no idea why this is happening, but it doesn't appear to be hurting us any.
I would normally worry if one entity was buying up all the debt, but there's only a finite number of SBD's and they're each only worth one dollar's worth of steem, so I can't see any way it's malicious.
I think large stakeholders are pumping SBD to increase user engagement before the launch of HF 20 and SMTs in a few months. If you have 5 Million STEEM it would only take a million or so to move the SBD price. Maybe burn 1 Million in BTC to pump up SBD with the bonus effect of raising the STEEM price a few 100%. It's like the FED adjusting interest rates. QE for STEEEM! . lol
I still have no idea why this is happening, but it doesn't appear to be hurting us any.
I would normally worry if one entity was buying up all the debt, but there's only a finite number of SBD's and they're each only worth one dollar's worth of steem, so I can't see any way it's malicious.
I think large stakeholders are pumping SBD to increase user engagement before the launch of HF 20 and SMTs in a few months. If you have 5 Million STEEM it would only take a million or so to move the SBD price. Maybe burn 1 Million in BTC to pump up SBD with the bonus effect of raising the STEEM price a few 100%. It's like the FED adjusting interest rates. QE for STEEEM! . lol
Best explanation I've heard yet.