Is a unfriendly acquisition of Steemit coming up?
Is a unfriendly acquisition of Steemit coming up?
The SBD is rising and rising!
Why?
According to Steemit whitepaper 1 SBD should always show 1$!
Mechanisms have also been installed to guarantee this!
After the SBD is now traded at more than $10, the question remains:
Why?
The mechanisms that should actually prevent this have failed, as you can see!
Steemit and @ned have lost control over the liquid assets of Steemit!
In the old economy, we would be talking about a unfriendly acquisition!
So, in the case of a public limited company, buy the shares at 10 times the price until the majority is reached!
This is exactly what is happening at the moment!
We will soon see who it was!
Normally, the SBD should remain at $1, and
STEEM IS WORTH 10 TIMES THAT!
And not vice versa!
What do you think of that?
Is a very exciting question and situation at the moment. But for sure the mechanism that should keep the SBD at 1$ didn't work.
Let's see where it goes ;)
SBD is out of control from Steemit!
What happens if some one hold more as 50 % of all SBD?
That's an interesting question? At the moment this someone could only dump the price again. Maybe at 1$ ;))
It is @ned He have read my Post :-)
Nothing. They can choose to redeem them for $1 of STEEM per SBD or sell them to other users.
See the whitepaper.
https://steem.io/SteemWhitePaper.pdf
thats a very interesting idea, never know that could very well be the case.