And iiiiittttssss that time again!
Hive Dollar blowing way past a buck...
Every time this happens (just as same with SBD in the past), I question:
In all seriousness... I don't fucking get it.
It's pretty common knowledge that the Steem/Hive Dollar is supposed to be a stablecoin with a consistent value of $1 USD...
So who in the right mind is actually buying at these crazy prices ($2.67 at this precise time)?
Either they're complete and total retards, have a severely odd fetish for losing money, or there's some factors in the dynamic of how the HBD operates which I'm unaware of an might actually explain some logical reason behind this phenomena.
Anyone have some genius insight that is completely evading my awareness as to WHY anyone would be buying HBD at 2.6x the price it's supposed to be?
Of course, if it comes down to a matter of really dumb money flowing in and having no fucking clue what they're doing... good for us.
Though really... could someone blowing millions of dollars on the market be that stupid to do zero homework and understand they're pretty much just setting themselves up for a guaranteed 60% loss?