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RE: Powerdown Statistics #5 - February 17th - March 2nd
One thing I think the design of SBD did not account for, only clear in retrospect, is that it's more profitable to do conversions during a bear market than a bull market. In a bear market the price of SBD is irrationally low, giving more room for profit via conversions. In a bull market, the price is irrationally high so almost no conversions happen, even though this is when we as stakeholders should prefer to pay off the debt, when it would result in less inflation.
Yes I agree 100%. It makes more sense to accumulate SBD until STEEM comes down again in a bull market or to just plain sell it on the market/exchange than to convert it.
And another thing I think that wasn't taken into account when the system was made was the insane price movement STEEM went through creating massive amounts of SBD in a short time that later needed to be covered by a very low priced STEEM token.