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RE: Steem-Backed Dollars - Could a Rise in Supply Lead to a Rising Price?
I took economics back in college, and this just tickles all my memory muscles within my brain.
Conventional markets are now being disrupted, and the basic theories may no longer capture the complexity of the society's behavior today.
Although may have to agree that in the end, market will still try to find balance, so your prediction of small increase followed by larger decrease is feasible. Unless of course that the community will further expand usage of SBD for higher demand.
Oh, I think conventional wisdom still has a lot to teach us. But you need a certain amount of supply to create a market, do you not?
I still have not found a good use of SBD, except to sell. And the inter-Steemit use rarely requires an outside expenditure, it just remains within the system, unlike Steemit to power-up which tends to be brought in from without.
I've seen a post trying to find uses of STEEM and SBD. Perhaps in time we can see more ways of utilizing our SBD. For now, we should be ready for a volatile and shaky ride for our dear cryptos here in Steemit.