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RE: A theory on why Steem falls so hard
I guess I don't understand how the price feed works. $0.40? But Steem hasn't been $0.40 in what about a week? It's hovered around $0.34 - $0.30 and now we're looking at $0.24.
Now that the prices are much lower we probably will be looking at some new Dolphins. I welcome them. We certainly need new investors.
However, I don't think we're looking at the bottom yet.
If you can make sense of this:
https://steemit.com/witness-category/@oflyhigh/why-is-medianhistoryprice-no-longer-the-median-of-feed-price-my-investigation
Yep, it is going to be interesting to see what happens as prices increase again as we will see what kinds of people powered up. =)
That actually makes tons of sense. People that are using bid Bots need to know that they are currently looking at a false return and they aren't going to make any profit until this price feed is corrected so that they know what they are getting themselves into.
I'm not advocating bid Bots but I did use one the other day on a lengthy post and I lost almost 20 Steem because the amount given was way different than the amount that was supposed to be given..... because the median price was calculated at about $0.40 instead of the $0.30 that was correct.
I think that @yabapmatt has changed the code of his bots that are out there to adjust and be more accurate. I know that the @ocdb one has been updated.