I'm still brand new to the Steemit platform, just a mere minnow, and don't understand all of these systems 100% just yet, but I believe a high SBD value makes it less likely for people to buy-in with USD, no? If people feel like the value is in a "bubble" it makes it more difficult to justify buying in. Maybe I'm misunderstanding though. Still learning!
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The flip side of that is people don't have to buy in. They can post in, which lowers the barrier of entry and helps bring Steemit (and possibly other cryptos) even further into the collective mind of the general populous.
Yes, people are dumping the SBD onto the markets, and there are buyers in the exchanges simply trading off of the charts. The marketplaces for bid bots and delegation leases haven't collapsed because of speculation on that speculation continuing. And yes, I would agree that most of the actual new users of steemit are people who want to earn sbd, not people coming in with bags of cash, those are much rarer.
But think about it, who has bags of cash? Probably the very groups (corporations, MSM) we wouldn't want controlling vote power.
At these prices and with a user base of this size I doubt they're making any moves like that yet. They're just laughing to themselves as we post everything we think on a public blockchain for them to parse through.
But we don't people to buy into SBD anyway. We want them to buy into steem, which is the central coin.