I have been telling my friends This too, its not sustainable, And honestly i dont understand Who started the pump And why? :p
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I have been telling my friends This too, its not sustainable, And honestly i dont understand Who started the pump And why? :p
I don't know who started it, but the question I have is... how has it been sustained?
We will probably never know the who and maybe never know the real why either. It has only been sustained because of uninformed demand IMHO. When every man and his dog is doing Technical Analysis without looking at Fundamentals this kind of thing can happen.
Ahh, too true, and do you believe like I do, that most people are just using it as a place holder during the Asian vacation and possible bear market like most use Tether, or are people actually trading it like a regular coin or token?
I believe many are trading it like a speculative asset and thinking it will appreciate in value alongside STEEM. I have seen numerous posts citing the coins relative "scarcity" as a reason to buy it (sorry, but scarcity is NOT a utility) and I've also seen numerous people doing Technical Analysis on SBD and saying it's going higher (without understanding ANY of the Fundamentals of the coin). So yeh, I think there is a lot of ignorant speculation going on.
Ha ha, this can be applied to so many people in this space.
My guess is that people who wish to invest in Steem, but didn't read the white paper. The names are too close. People don't know. That is why I think it is a last resort for Steem Witnesses to take action.