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RE: High STEEM DOLLAR Dampens Curation Incentive
I would say its at least partially due to upvote bots. If you are only interested in making money, as opposed to producing quality content then, you can buy SBD to upvote your own post, regardless of the quality of the post. The profit in this is limited only to your ability to afford SBD. So this drives the price up!
Even so, you would still think that more people would try to trade SBD for Steem just to make a profit on the price difference. This would suggest that at least the two things will equal out. And, I suppose, in the last two days that has happened, as the two prices approach being equal.