We can talk about mechanism and such all we like. The plain simple fact of the matter is that HBD and Hive prices are linked. If one goes up so does the other, if one goes down, so does the other.
Look at the Steem Dollar price, around $9.30 and the Steem price around $1.20, both have risen.
Now look at the HBD price $1.81 and Hive $0.67 both have gone down and casual investors hearing that a community is actively trying to drive down the price of its own crypto, will run for the hills.
Cg
RE: Why We Shouldn't Be Funding HBD Stabiliser - We've Got It The Wrong Way Round