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RE: Are you converting your SBD?
How low will steem have to get until we exceed 10% debt?
Also, I know you’re not a financial expert, but where do you think we’re gonna see a bottom?
Market looks like it’s been cut deep
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No idea what so ever. I can tell you what I hope, but I can't even remotely guess what it will be.
The fact it is happening to other coins (namely BTC) is a big reassurance.
It is right around 50c, and STEEM is already below that. There is a delay built into the system so the effect of the 9% and 10% rules won't kick in right away. Another factor is that SBD conversions reduce the amount of SBD and therefore reduce the price necessary to hit 9% or 10%. If STEEM recovers quickly they may never kick in. We'll have to see how it plays out.