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RE: Could The Jump in SBD to $15USD Have Been Caused By Fear About Value of Steem?
Vote buying madness fueled the rise to 15. Most bots accepted payments in SBD only, there was a huge buying pressure and the rewards were overpayed due to the broken peg, rinse and repeat.
Any money you spent on SBD was quickly multiplied in seven days by buying votes with those SBD and collecting the rewards.
Hm.. So doesn't that then mean that the bot owners would have been probably / possibly holding a lot of SBDs and made huge profits during that time - even compared to others?
I had not heard this idea before - is it based on any kind of certain calculation/data?
This is not true at all, it had absolutely nothing to do with voting bots (though it did benefit them tremendously). The SBD spike coincided with STEEM and SBD getting listed on some major exchanges in South Korea.
At that time there was a lot of general euphoria about crypto in general and especially any new coins added to major exchanges and people started buying SBD without knowing what it was just because it was promoted as being added to these new big exchanges.
Since there are such a small amount of SBD in circulation even a relatively small amount of buying causes the price to spike very dramatically. Then also more people probably jumped in just because they saw the price going up.
That's more or less what I thought at the time Matt, yes - I've just never seen any data to confirm or reject the idea.
I have been struggling with steembottracker.com as i am no longer able to logon. Is this some sort of token malfunction or steemconnect issue. I have tried logging in from firefox, chrome, and safari and no luck. If im blacklisted from using the site then there should be a way of finding out. I feel like a second class citizen on steemit and this all has become an irritating source of frustration and hopelessness.
but bot owners and early exploiters had the majority of supply
its very convenient the peg "broke" when it did similar to in May 2017 after btc had doubled within a month adding another layer to the pump and dump tactics by high holders
basically if you have to exploit a system and pump and dump for gains they have little faith long term and are only concerned with short term gains