The pump and dump attack works, it is just whether or not such price action is reliably achievable or too expensive. I think that a wait-and-see approach is reasonable, but those that hold this position should make it apparent that:
- You shouldn't hold a lot of SBDs (when >$1)
- We expect the price to return to $1
The long-term mechanisms will drive the price down as long as Steem keeps growing. The SBD is fundamentally worth a dollar. Whether the market figures it out or not is another question.
I agree completely with that.
I look at my own SBD and definitely still treat them as 1 USD ahead of all that. No desire to cash it out to FIAT though, so I'll make the most of SBD being valued over 1 USD.... Get STEEM, Or maybe I should send it to bitUSD lol.....