Quoted By:
Hi-
The overbought mechanic is on. It was turned on when the update was made as stated. It operates the same as it did when we used it the first time. People complaining seem to have a misunderstanding of how it works. If you doubt its efficacy, look at the all time graphs around June 23rd.
Repost from floor:
As always, the overbought mechanic applies to coins that would adjust up but were bought to a price higher than where they would have gone ignoring market activity. They are brought down towards this target adjustment price. That is how it has always worked. As we have seen in the past, has been demonstrated, and according to our models, this mechanism will result in deflationary trends over time. I think it is silly to assume that because all coins didn't crash 50% on the second day after the mechanism was implemented that we forgot to turn it on. The overbought mechanism is not bogration, it does not affect normal downwards adjustments.
floor id 0147b6eb-84ea-47f8-b9b9-38f82e6fafd3
