So, my BTC has just been sitting there... neither losing nor gaining value. Some people might find that acceptable. But not me. I think there is a significant risk in holding BTC. It could go to zero in short order. I don't feel like I want to assume that risk without a return...
When evaluating all the other possible holdings that promise some kind of return, none match the value proposition that Steem Dollars represents.
With Steem Dollars, I get 10% interest right off the bat. That's phenomenal compared to any traditional low-risk investments such as money market accounts or certificates of deposit.
There's also conversion cycling, which I've outlined in previous posts:
https://steemit.com/steem/@bacchist/testing-the-steem-dollar-peg
https://steemit.com/sbd/@bacchist/sampling-sbd-conversion-returns
https://steemit.com/steem/@bacchist/my-week-1-sbd-conversion-results-18-615-sbd-or-7-446-roi
https://steemit.com/sbd/@bacchist/i-stopped-converting-sbd-for-now
To make a long story short... I've determined that now is the time to go all in on SBD. And perhaps the last great opportunity to do so. Recent and proposed changes promise to strengthen the SBD to USD peg, and add value to the SBD as a store of value.
The 85c that I was able to purchase this SBD at is something that I think will be less available in the future.... So I'm hitting it pretty hard by my own standards.
We'll see what happens... I'll let you all know.
What do you think?
https://steemit.com/sbd/@dennygalindo/sbd-near-80c-on-bittrex-should-interest-rate-be-raised
I am interested in all of this
that is what i have been doing all week! putting my sd$ into steem :D
That's a bit much, but yes, I do think SBD could be a good investment. I've already moved a good amount into the whole steem ecosystem, so I'm not sure if I'm willing to invest more at this time, but I'm certainly tempted. We'll see where it goes.
A bit over the top, perhaps... but anyone who has been in the crypto game for long will realize that even the "safest" investments can lose 80% of their value in a matter of weeks... or even days!
I don't want to assume risk without seeing a reward... so there we go.
Sure, we call those buying opportunities. Bitcoin going to zero would be quite a surprise. Let's leave the hyperbolic language to the lamestream media.
Damn you.. now you got me thinking :)
Just wait a few days for me to make a few percents. :P
You said you were drunk tonight in chat ? you writing this post drunk ? lolz
of course
bout to get stoned too tho
:)
hopefully, you wake up and don't go wtf!! did I DO! nah, good decision btw.
I'm pretty confident this will work out, actually. ;)
I love these type posts to get the brain cells cranking.
I love the post...... but am kind of confused
Does anyone know when you receive the 10% annual interest? Is this paid once a month or so?
Yep, once a month. Piston even has a command you can call which will show you your interest and on what day it pays out.
There's a spot on steemstats that shows it too. It's under the "Accounts" tab, it'll show you the current amount and how many days ;)
Steemstats has everything. :)
I agree! You can monitor the amount of sbd vs Steem and sell if it gets dangerous.
With the sbd supply soon to be constrained and paying above market rates I wonder if it starts trading at premium?
It's traded above $1 in the past. But I doubt it will ever stay that way for long.
@bacchist - I made the same move on wednesday. Investing my fiat into bitcoin into steem. Bottomline, until I get a huge following or have a whale consistently upvote my content the best way to invest in the opportunity of steem is through $$$.
I would move USD in if there was a way to do so directly.
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