This is an interesting find. Yet it does not give me the clue why people would want SBD. Why not directly buy steem, it the ultimate goal is power-up on steemit. ?
WHY ?
I am still betting that this SBD rise is made by some shady whales action, who got info - what is coming soon. Especially with SMT being just around the corner.
I sure hope it's not some shady whales who have got insider info that they want to take advantage of. That would be really nasty and very bad publicity for Steemit. @dragosroua wrote about the idea of a $10.00 peg yesterday... What if that were the plan? Then they'd be buying up SBD knowing they'd have a guaranteed profit? Personally, I doubt it. That would be extremely scammy and would also imply they were the ones buying SBD, and from what I've seen and read, STEEM witnesses are just as surprised by this move as anyone else is. I think this is more likely profit taking by long term BTC early adopters who don't want USDT exposure, or at least want as little as possible, and who are paying a very hefty premium for something they view as safe - which, by the way, would be very good for our reputation since it definitely would bring STEEM to the forefront of secure, solid and reliable crypto.
Short answer, I don't know, I hope not, and based on what I know, I don't think it's too likely, but I wouldn't completely rule it out either.
While I must admit your points are valid and possible, yet I still can not understand why SBD would be the best tool to hedge early BTC investor's profits. Buy something for $12 or $16 which **most likely * will go down to $1.00 ? This is beyond my brain imagination limits...
@onealfa I agree with what yoy say, and logic tells us what you mention. However, SBD has been at $12 and up for more than 10 days by know right? And some people predict (like @haejin), that it will go above $30 soon. This is crazy. Who knows really what is going on. In any case, the one or the ones who are doing this may know they are helping blog posters a lot with rewards with this, or they may not know, and they are just doing this as a way to transfer their BTC profits.
And LTC were will it go now? To $400? What is the short term roof?
Regards, @gold84
PS: By the way, your opinions are very important to my ideas, and you have added in the past to some posts. Would be great to hear comments from you on the last idea about Showing the USD value of posts when hovering the mouse on the SBD payout amount: https://steemit.com/utopian-io/@gold84/lets-show-usd-value-of-posts-when-hovering-above-sbd-post-pay-amount-to-make-it-easier-for-new-visitors-to-see-the-big-rewards
They're expecting it to go even higher. The current "peg" only keeps it from going lower than a dollar. There's nothing capping the upside.