If HBD is .9 when one wakes up, the opportunity to buy HBD for 90 cents worth of HIVE and then "sell" it through the converter for $1.00 worth of HIVE is in play.

This is where the market mechanisms (those who arbitrage) can help to hold the peg for what I can understand.

With the next Hard Fork, that will exist on the high side too.

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