that i think i understand maybe :) what i was thinking and i think i remember it was talked about after the drop of steem from 4 to 0.2 was that there were some that had a good amount of SBD and they converted it to steem. so it was an "instant" boos of inflation for steem.
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The challenge there was that SBD got way out of whack compared to the supposed peg. So things were all over the place.
With HBD we are seeing the HBD stabilizer keeping it pegged closely. So that means the only real variable is the movement in the price of Hive.
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