I am kinda excited about SBD hitting $1. It has been constantly losing ground relative to STEEM and I feel we will soon see it close to $1.
I think this would be really great for steem as now we would have some stable crypto currency.
Things we could do:
- park money and use it as a store of value
- use it to price things. For example it would be very useful for steem bounty when bounty could be stable in value over a longer time period.
- attract many crypto investors that are looking for a stable coin
- allow many apps on steem that require a stable coin, such betting , foecasting and gaming that could drive lots of usage of the blockchain.
I know many people are looking for SBD to rally, but I really think it will be exciting once SBD is going to be stable and more valuable for steem.
What I will miss
We are currently getting free rewards,paid by the market who is overpaying for SBD. That is of course great and brings in value to the blockchain and ecosystem. However I find this unsustainable and maybe not even worth it, given all the other benefits we are missing with a volatile SBD currency.
What is really needed:
A way to dynamically increase the supply of SBD that increase the price of steem. @timcliff has proposed a solution which i support that would allow the exchange of STEEM for SBD at a premium. This premium could be set by the witnesses. The steem that is used to exchange SBD could be burned and thus reducing the supply of steem and increasing the price. The demand for SBD would then be converted into a higher steem price, which is precisely what we need.
What do you think?
Do you agree or disagree with me and what are your reasons? Let us know and win part of the bounty.
I’m having mixed feelings but I hope we can see a higher return for STeem
I think the price is going lower towards $1 only if Steem Power keeps dropping. If Steem Power goes up in price we’ll likely see an increasing SBD price as well. This market is all about speculation. We shouldn’t fight it, we should capitalize on it. Not that I’m against suggestions that make things better. I just say we should experiment with a SMT and let Steemit do it’s thing. Thanks for the share!
I would be ok with it going lower if steem was going higher.
investors would want "in" at a lower price.. profiteers would want "out" at a higher price..
it's just like the bears and bulls tug-of-war in the exchanges. this is more like SBD goes with STEEM rather than USD. i'm okay with SBD burned to keep price down, inflating STEEM.
I prefer that 1 SBD be worth at least 1 SP. I hope those days aren't gone forever.
It will never hold a true $1 there is nothing in place to prevent it from swinging randomly lower or high. Also higher SBD means you get paid more on your post!
@btc-dialog has set 1.000 SBD bounty on this post!
What is a bounty exactly?
A bounty is money sent to a post to be distributed to the users commenting on it. It provides a way to reward users directly and works in addition to the steem/sbd they receive from the blockchain. It works independently of SteemPower.
You create a bounty by sending any amount of sbd/steem to @steem-bounty together with a post-url in the memo.
How can I earn a bounty Users are then competing for the bounty by writing their answers to the post in comments that will achieve upvotes from the community and especially the bounty creator. The money of the bounty gets distributed to all top level comments of the post at the same time when the post is paid out (7 Days after it was written). How much everyone gets depends on the votes the comments received. The sender of the bounties votes are weighted higher so that she decideds where 80% of the bounty money goes and all other votes determine the rest.@steem-bounty does all of this for you automatically. You can use this service to automatically pay out a challenge, ask a hard question or simply to reward the people that interact with you.
Read more about how it works, even in different languages here.
Congratulations to the following winner(s) of the bounty!
I will try to play as conspiracionist: all these fluctuations could be a maneuver of the banksters to let us lose confidence in the decentralized currency? ;)
However, at $1 I'll sell my house to buy SBD, ahahahahhh!
Thanks for the bounty!
I agree. It would be much better, if we could see a more stable coin, and I mean both, STEEM and SBD. Too much ups & downs can scare "real money" investors away.
I think it is fine if steem is volatile so long as Sbd stays stable. This will allow content creators to stay in eth sbd crypto without having to trade in and out and will invite others to c Me in who need a store of value.
But if SBD stays stable and STEEM goes high, then powering up becomes much more expensive, if you convert SBD to STEEM on internal market.
I would actually rather see that we have only one steem cryptocurrency (STEEM or SBD) and Seem Power. Still don't get it why two cryptos are needed.
Its been over $1 for ages
Its now $2.46
What I have read is, that the intention from the very beginning was to have SBD=1=USD.
What I never really understood is that SBD and STEEM can variate that much.
It does not really make sense that SBD is traded at more than $1, because it provides no value other than guaranteeing that it is worth $1 in steem.
I totally agree with you that the Steem Blockchain would profit massively from a stable crypto currency. But right now I don't see that SBD would become a stable currency. My reasons for that are in order to have a stable currency there should be a incentive to arbitrage trading SBD against Steem. That means whenever the SBD Value goes above or below 1 $ there needs to be market participants who can profit by taking the opposite trade so SBD can fall back to 1 $. Look at other stable currency like Maker-Dai or Tether. They all profit from arbitrage trading.
this is not correct. There are plenty of tools to keep the value to $1 if it falls below. But we have no tools to move it down to $1.
I'm very noob when it comes to cryptocurrencies, steem going towards $1 is good for us?
not steem. SBD. SBD is supposed to be $1.
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STOPI have been accumulating SBD waiting for it to go back from the current 1.2/1 ratio to .85/1 ratio it had been holding at. See no reason this won't happen and when it does I'll be very happy to get the bonus SP out of the deal. Honestly I think buying SBD right now is a smart play based on how the SBD to steem prices flip flop repeatedly over time.
This natural free market allowing the price swings is what attracts many investors. Without fluctuation there is no room for profit. Seriously if I want my $1 to stay at a $1 then I will keep fiat and have no risk. If crypto becomes to stable I'll go back to gold and silver for my storage of wealth and inflation guard...crypto carries massive risks and those risks need to be rewarded with potential profits.
Mhh, i would be very careful buying it if it trades above $1. SBD is a promise to get $1 of steem. So there is is simply no justification for it to be worth more than that. It does not provide any utility or value above $1 and in fact uses all of its utility if it trades above $1.
I think long term it has to come down for that reason, so I think these trades are fine in the short term as speculative play but i would be careful with such strategies.
I've been making small trades back and forth getting out quickly. But have bought a bunch of SBD from another steemit member which I'm holding for the change in ratio which I feel will happen. Actually I'm pretty confident that we will see a couple flip flops of the ratio long before there is any stability. There is such a small float of SBD that it only takes a couple larger investors or any of the many pump/dump groups out there deciding to move some money into SBD and the price can move pretty drastically.
This time both steem and sbd price are coming down. I think this will be a good time to buy more steem and increase SP. In a long run this will bring a lot of profit. However, without pragmatic solutions of the problems associated with steem in comparison of other cryptos, this crypto can not go higher. These problems must be addressed.
Which problems do you see?
There are many my friend! 1. Not many exchanges supporting steem and sbd. 2. Wallets are not available for Steem and sbd in comparison to other cryptos. 3. Steem and sbd are limited to steem platform only. 4. Flaws in reward distribution system which is not generating confidence in buyers mind for invest in this crypto.
Other problem are also there. It doesn't mean that this platform and its cryptos do not have potential to be a great success. Definitely it has but these problems should also be addressed and the potential must be harnessed. I hope after much awaited hardfork20 and smt thing, this platform will go upwards at rapid pace.
witness will always lean towards steem since what they recieve is steem but in other hand, witness can rally influence to make sbd into $1 but this already fail yesterday, it fail today, and it will fail tomorrow knowing it is not the witness that give price of sbd but the market!
It has been discussed before about sbd pegged usd value, nothing happends
what tools are u talking about? I dont see any?
If you stop writing or leave steady, SBD will not be exploited and the value of it will increase.
If STEEM hits 1$ i will buy it alot :D
because i think it will soon hit 5$ again
In my opinion.. SBD is decentralized crypto.. So sometimes it's freefall is simple...But i think, In the end of the year 2018, SBD price exceed $10 +.. @btc-dialog
SBD will not be exploited and the value of it will increase. @btc-dialog
i am excited too
I'm just here to read the comments..... And I'm loving it!
Put it this way, power up and don't HODL SDB