Anyone holding SBD will lose their money... 1 month ago there was just 3 million SBD in supply, Now it's almost double. 5.28 Million SBDs circulating right now! But the market cap hasn't increased much...
Where did it all come from? Well the only source of SBDs is Author Rewards... Due to the increased activity of posting twenty times a day, voting on sockpuppet accounts, circle voting and self-voting issues of whales, the SBD production is getting bigger and bigger and more SBDs are circulating in the supply chain. Although the current demand for it and the recently created HODL hype of people has been holding the price between 8-10$, it will drop dramatically when the number of SBDs
continues to rise at this rate.
Don't be a sheep and follow the hype. Do some research before investing in SBD guys. You have been warned!
Thank you for detailed response. It is always pleasure to read a clean and sober thoughts.
Hey, @haejin, do you think that bitUSD will explode 300%, becouse of some kind of triangle formimg there?
@cron Thank you for taking out your time to leave a response.
People with high stakes will always try to create a hype using their social media power and make their predictions a self-fulfilling prophecy by flocking a lot of people to buy it.
But we have to self-research and distil the provided info and decide whether it's worth the hype or not and whether it's safe or unsafe to invest by ourselves.
Yes, we should base our decisions based on facts, not imaginary figures on the graph. There is a proof to it. SBD directed to $1, not to $21.95
That's for sure... Jeez 0.5 million SBDs increased during the time duration of my 1st comment here and this one. And market cap is even lower than before. It's going down for real.
I was about to buy some for power down. Is it a bad time I take it?
As a noob to this I'm confused as I seeing posts like this make me feel guilty for wanting to get upvotes but at the same time. Fomo!
😯😆
Best advice is to not put all of your eggs in one basket. Try to distribute your portfolio into a handful of projects that you feel very passionate about. The easiest noob mistake to make is to go all-in on one thing based on hype. That is the fastest way to get burned. If you want to follow @haejin's advice, feel free to do it, but do it with like.. 10% of your portfolio.
Yes thanks for the advice. A bit late to not get burnt already as I did. I wanted to add to my folio now with steem. I will do with caution of course.
😊
Great idea! Best of luck to you!!!
@niknakingle Keep more Steem and less SBD. Take decisions based on facts not the hype around a coin :)
Sounds great advice, thank you for responding. 😄
Thanks for the sober words of wisdom. This is too true. The system is literally structured in such a way as to try to force SBD to an equilibrium at $1 USD. Honestly, 1 SBD = $1USD would be amazing. Not sure how it got this high to begin with.
There was a korean exchange brother @jasonyoakam who listed Steem and SBD in their exchange and bought a lot of SBD which created a massive pump.
Going by @haejin analysis, I see people are saying, he has been very accurate, so this is going to happen, I believe.
@sanjeevm sir it's always better to do self-research in the crypto world before making any financial decisions. Feeding into others advice and investing blindly doesn't always end up well. :) Best of luck in your future endeavours :)
I have to agree here, but will keep a few just in case!
Yeah @abh12345 brother... Use your free will! But I do not see even a single ray of sunshine over SBD. Grumpycat is aggressively bringing down the price of SBDs... So are other greedy whales!
It was fun while it lasted. But it'll go back to 3$ soon. Maybe even 1$. It has no future. Except for the conversion to STEEM, it has no utility too.
It'll spike every now and then when some exchange lists STEEM and SBD in their store but eventually SBD will return to where it's supposed to be.
There does seem to be some fundamental downward pressure, but the chart currently suggests the opposite.
Like you say, SBDs are always likely to receive a pump, which is why I like to mix strategy and hold/sell/move to STEEM and power up.
Nevertheless, it doesn't hurt to keep some SBD... But if you're keeping it for HODLing purpose, you might get more profits from other major cryptocurrencies like Ethereum, Verge, DASH e.t.c
Yes I hold some Eth and Verge. Bits and bobs all over the place :)
Check out BAT and Po.et tokens brother :) It's a bit underappreciated right now but it will beam up soon as the masses realize the importance and utility of these coins!
The pumps are because it's still low in supply compared to Steem which has over 300 million coins. Whales are creating artificial scarcity of coins and manipulating the price. Besides, SBD has a market cap of just 50 million dollars. So even a single individual with deep pockets can double it up overnight if he/she chooses to put in a shitload of money into SBD! But as the number of SBDs grow, you'll need more and more capital to bump the price! I heard it was a Korean Exchange last time who bumped the price to 15$... Currently, they'll require double the capital they used last time to pull of that same feat!
After 9 months in steemit and even reading the white paper, I still do not have a solid reason I can state for the need of having SBD. It was my understanding that it is like holding bonds and you are supposed to collect interest, but that it isn't actually paying interest. I also get them in my account for being active on steemit. Now the only way to move them to steem in order to power up is to send them to yourself. It's a strange thing, because I never see them show up in my steem account to power up. So I actually don't know why they are part of steemit and create this confusion and more concerning I don't know where they are going when I take send them to myself. I also don't know why they would be bid up if they essentially don't have any utility.
If I understand your question, you need to exchange the SBD to Steem before you can power up. You can directly power up from SBD with a service like Blocktrades. SBD has a little utility because you can use them to pay for certain services/give as gifts here on the platform, so it's probably useful to keep some "change" around. As for the price, it appears to be dropping ATM. Powerful forces are moving the value down, so we'll have to see what happens.
To be clear, the amount of SBD being printed is only dependent on the price of Steem.
If the author rewards for a post are $100, and Steem is worth $1 USD, then you'll get 50 SBD. If Steem is worth $3 USD, then said post will be worth $300 and release 150 SBD.
Posting more does not increase the amount of SBD, as the pool's size is constant. It only changes its allocation between different users.
Though yes, SBD mostly has a downward pressure, though I wrote an interesting piece on why an increase in SBD's supply could be a requisite condition for its price to go up, though that's slightly longer term.
I agree @geekorner that the rewards pool is constant. But when a few people have a large number of SBDs and when they flood it into the market with a cheap price, the price of SBD is bound to drop.
But if the same number of SBDs is well distributed, a lot of value will be preserved.
Also, The Steem price is massively increasing the number of SBDs like you said.
Yes but a quick look at the internal market shows higher volume of steem for sale vs steem dollars. So many people are choosing to unload steem for sbd right now. I’m curious why.
To pay for Upvote bots @dandelion ... before trending posts garnered about 300-500$; now suddenly the posts on trending page are 700-1500$ ! People are buying up SBD right now to boost their post to get better earnings! There's no other uility of SBD other than that...
And since half of the rewards of those thousand dollar posts are going to be converted into SBDs, the price of SBD will steadily decline after a couple of weeks!
Yes and steem will ultimately prevail due to the dividend nature of steem power!
absolutely... Steem is already nearing to the price of SBD and eventually, it'll be a lot more than SBD.
I think you are correct. Steem is fiat, but for now it has a price
@peaceloveliberty Yes but for now only... As a content creator myself, I would love the SBD to get to the moon but it'll be just wishful thinking.
@creatovert thanks for the info
You're welcome @n8dg brother :)