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So the new system really isn't much different, except that once you reach a new tier you can't go back into a lower tier unless you don't play. So for instance, if you go from bronze to silver, then you can't be demoted from silver to bronze.
Shouldn't this have been taken into consideration when doing the initial placements? Before the LP system I had a hundred something games in season 3 preseason with a high ELO of 1365. That means that under the LP system I had made it to the silver division. Not exactly sure why I was placed in division 5 bronze then.