SBD @ 10 USD.. what could be behind it?
As I have already written in my last post its really hard for me to understand why a stable coin should be 10 times above its fair value. So sure, its all bid and ask.. free markets.. but you have to go several steps back and think: cui bono? Why would someone push the SBD price up to such unsustainable levels?
First of all, it could be pure speculative and market cornering action... if that's the case beware of the end of this move and the subsequent dump.
But additional to that or instead of that it could also have another reason:
Just assume you would be a major force behind steem and you want to dramatically promote steem by very high payouts for everyone. You could either do this by pushing the steem price up - which is kind of hard if you already got a marketcap of around 170 Million USD or you can look at the the other half the payouts consist of: SBD.
A SBD price of 10 USD equals a steem price of 4.5 USD.. up times 10 the current price.
This would put steem @ a marketcap of over 1.5 billion USD.
As most payouts are 50/50 with only a tenths of the effort one could get to the same effect by cornering SBD.
And by momentum driven speculators jumping in on the train you actually need even less effort.
What do you think? And where will SBD price finally peak?
Hi dear @solarwarrior
The truth is, the more I think about it, the less I understand it, it is already going down and at this moment it was for 7 dollars, it is unsustainable as you say at 10 dollars, but it is still quite high, the truth makes me quite happy and I hope it continues like this.
greetings
Hi @solarwarrior
I truly wonder what is the agenda behind SBD reaching such a high price. After all, in order to maintain it - someone actually need to buy all SBD being dumped on daily basis by all those who create content and receive rewards.
Which means, that someone out there must be losing tons of money. Every single day.
I wish someone could explain how can this be profitable for those who manipulate price of SBD to such a ridiculous levels ....