I hope that its not true. The high price of SBD has been great for the past few months for rewards and for growing active accounts.
I could accept the price dropping naturally even if i didnt like it but if the witnesses intentionally kill the price and strip a lot of money from peoples wallets i cant see that they will react too well.
I know you said its talk but to go ahead with no warning will go crazy on the markets where people dont realize what sbd actually is.
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Yes I agree, and don't think it would be a wise move either.
However I do think it's crazy, that some people are making well over a $1,000 a day here on Steemit due to the inflated Steem Dollar, and my worry is if this is actually sustainable?
Let's face it too, most of these people are totally gaming the system.
Yes they are. And gaming it a lot as well but with that case sbd should naturally lose value back towards one dollar so what is propping up the price?
There must be people paying that price for it otherwise it would have dropped straight back down after it got pumped before the xmas. I wonder is it just through external buyers holding it and hoping for another pump?
I dont know the technical side of it but if they cut the value overnight back to one it will definitely have a knock on effect for the steem price aswell because they are intrinsically linked together and if people will lose confidence in one then i see it affecting the other in the markets especially with people who dont have the full story about the steem blockchain.
My guess is, as more and more people join Steemit and earn Steem Dollars, the more of them they'll be in circulation, which will inevitably lower the price back down to its original 1 United States Dollar peg.
We will have to wait and see i guess but hopefully they leave it alone for a while. I never like to see people meddlimg in things unless absolutely requured to do so. It rarely ends well.