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RE: 1st on dTube: Interview w/ Steemit witness Luke Stokes, talked SBD $1 peg, crypto, much more...
Any one knows why steem backed dollars are fucking going down for no reason? Will it ever reach 12$ again?
Speculation and demand, but yes, definitely something lots of creators are facing the consequences of
How come few people ask, "Any one know why SBD are fucking going up for no reason?"
It's speculation, supply and demand, and manipulation. Those with money spend money to push up the value of small market cap cryptocurrencies (and stocks, gold, silver, etc for that matter) for their own benefits. They also do the same thing in the opposite direction when they can short it.
If people had absolute knowledge to say whether or not SBD would go to $12 in the future, they would already price that in today with some time-value of money discount they feel is reasonable. No one really knows. I sell SBD as soon as I get it when it's price is above $1 because the history of SBD so far shows it eventually comes back down again. If you want to speculate, why not do so with STEEM? SBD will keep being printed until the debt increases and the price comes down. Eventually people will start converting SBD to STEEM again if and when it falls below $1.
That's my thought on it, anyway. Due to loss aversion, we registered a price drop from $5 to $4 as more serious that a price rise from $1 to $5.
@lukestokes you just hit the nail on the head, I have been asking myself several questions about SBD, but with your response here, I have all my questions answered. I will rather hold steem than hold SBD.
its over man... scam confirmed...