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RE: End of week long STEEM price downtrend
In theory a prolonged downtrend should not be ruled out due to inflationary tendencies, and if that happens then the convert function will always lag (due to factoring in more elevated STEEM prices that are gone by the time the conversion takes place) and be unable to get 1 sbd = 1$. I guess they'll have to work something out otherwise it's a problem for SBD that will be considered too volatile and get dumped.
a 5% inflation does not explain a 75% price decline
ok so maybe it has been 10% inflation, but still the price drop shouldnt be many multiples of the inflation rate