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RE: A theory on why Steem falls so hard
Prices on the witness feeds are artificially higher to give an effective haircut to the SBD being converted which is why conversions have abruptly stopped. This conversionnis what creates Steem by burning SBD but if using the internal and external markets it is just an exchange and both assist continue to be outstanding.
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Yep, it is something that has got a few people complaining for various reasons but, not many were complaining when SBD broke its peg :D