Can someone explain why people would buy SBD if the price was above 1$? Speculation? I that case it seems like foolish speculation. Are there any other reasons?
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Can someone explain why people would buy SBD if the price was above 1$? Speculation? I that case it seems like foolish speculation. Are there any other reasons?
In theory if there were more supply of SBD than STEEM at your target price, and you wanted a lot of STEEM, you could buy SBD and convert it to STEEM.
But in this case it seems like foolish speculation. There are much more efficient ways to short bitcoin.
If you want to increase your steem and think the steem price plummets down to where it was a month ago then buying SBD at 2$ would still yield a 30% win in steem.