The amount of Steem given for SBD on the internal market is huge
To be more precise, the amount of SBD which is offered to convert to Steem is of almost 13.5k (in SBD) and the amount of Steem to be converted to SBD is of 25.8k which is almost double!
All of this makes me wonder, why people want so much SBD for? I mean you can do almost nothing with it, nothing which you can't do with Steem. I mean if you want to cash out your Steem, then no matter in which coin, you can just sent it to an exchange, trade it for Bitcoin or Ethereum (USDT, Binance Coin, Bitshares, whatever) and then cash out. But why must it be SBD?
Another reason why people may want SBD that much is because it can be pumped easily, having such a low volume, but beware, witnesses have though a lot about hard pegging it to one dollar so it could end up being worth just one USD.
Maybe SBD is so much wanted right now because it can be used with bid bots. Who does not want a little profit (that almost never happens) from using bid bots? But should this be the only reason why people want SBD, to buy votes and promote their posts? I tend not to believe this, but who knows, maybe this is the reason why SBD is so wanted :)
Don't forget that Steem has a big advantage over SBDs, you can power it up and control more of the reward pool with your own votes. Not to mention the fact that Steem will should be mainly used when SMTs are launched, SBD should then be a stable, pegged to on dollar, token and we will need it this way as a way to exchange between the rest of the tokens maybe on this amazing feeless internal market.
Thoughts
My personal thoughts is that either there are pretty educated people that are well aware of the value and use case of SBD and still want to speculate with it, or there are people don't know anything about it, but who buy it just to hold a cool asset called Steem Dollars, which has a small volume and nice pumps ;)
I am waiting for your thoughts about this below, don't be shy, it's just conversation, after all this is a social network, isn't it?