I just can't understand how the system doing correcting,?
steemit is decentralized the market price is the sum of all exchanges that steem is there and the price is only because of people willing to pay for steem.
so if their is a dip in a price the market doing correction or the people that trading that coin they who did the correction.
if steemit is decentralized and no one is controlling steem price
then who doing the correction in steemit network?
if the system doing this automatically then that mean its connecting to
exchanges API and checking the price ticket?
and even the market cap it's sums of all steem in all other exchanges
how the steemit network know to do a correction
or does the steemit admins creating the tokens according to market dip and cap?
It doesn't go on market cap price (my mistake) it goes on coin supply. so the ratio between SBD supply and steem supply.
currently:
254,562,291 STEEM
10,848,198 SBD
This clear things up