For setting up the internal price of STEEM
So the internal price of Steem is not determined by buyers and sellers like in Exchanges where a buy order price limit has to meet a sell order price limit?
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For setting up the internal price of STEEM
So the internal price of Steem is not determined by buyers and sellers like in Exchanges where a buy order price limit has to meet a sell order price limit?
Internally, price is set up by witnesses. Of course, witnesses are weighing in what happens in external exchanges when they publish their price feeds. But there will always be an arbitrage opportunity if you follow the internal market closely. I saw gaps up to 30% between SBD/STEEM internal vs external, in both directions.