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RE: Burnpost three month status and update
Ok, interesting Idea, but here is an interesting question:
How does the sell sbd for steem will drive SBD price down? For me It doesnt make sense.
If the initiative would be to drive SBD closer to 1 usd, then this SBD should be sold at exchanges for BTC(or usd is possible), then the BTC should be used to buy steem at the same exchanges, and then back to steemit account.
Trading It on internal market Will only drive the steem price up, wich Will discourage people to trade their SBD for steem, because they Will get less steem/SBD (unless you people are Trading on both ends). Actually this would encourage to sell their steem.
The end result is the same through arbitrage.
The SBD bought on the internal market will be sold on external markets if the opportunity to make profits exist.
But maybe isn't it creating a new problem? Steem price in the internal market is sky rocketing, wich encouraging to people sell STEEM there, wich in the end could create an up pressure on SBD, and a Down Pressure on STEEM.
I still like the idea, but i am still unconvinced that this will drive SBD back to $1. Or am i still missing something?