How is Steem Dollars SBD consistently above the $1 peg?

in steemit •  7 years ago 

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Sorry if this is a noob question.

But Steem Dollar has been above the $1 peg since Nov, and it's now at 12 fold the peg, could someone tell me how the steem mechanism is not dealing with this situation?

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7 years ago by

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      ·  7 years ago 

    That means right now if you make $1 here on steemit you can sell it for $12! No complaints from me..people must be using SBD for day trading which is hiking the price up steadily

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        ·  7 years ago 

      Thanks for the reply. Yea true, I am not complaining ;) But I thought steem can create unlimited amount of SBD if it raises above $1, which is the case for the past month already. It's meant to be the stable currency in steem but it's not doing its job? Just want to know what is going on. It's all very interesting economics for me.

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