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RE: SBD isn't broke: How SBD works on STEEMit

in #steem8 years ago (edited)

@bergy I believe you are incorrect. Check this out:

Screenshot_2016-08-08_19-40-55aa5b1.png

2.41 STEEM per steem dollar.

Now let's hit up coinmarketcap.com

Screenshot_2016-08-08_19-42-574baf0.png
STEEM = 2.10

Now, let's combine, shall we?

Internal market - 2.41 steem dollar per steem-- so either it's not exactly $1, or the internal market strongly diverges somehow.

because if we leave the internal market, we find it matches prices on the internal market nearly perfectly:

SD = $.85
STEEM = $2.10

2.10 / .85 = 2.47 ....... just .6 away from what's going on on the internal market.

Point is that I think that the external prices are being counted on the internal market.... and of course as both are markets, they should influence one another. @steemulate seems to have the right direction in terms of patching this issue up.

**I leave this poor reasoning on my part here for posterity. **