This sounds like a plausible remedy.
Not to be obtuse, but what do you think people that are holding SBD's should do now? Should one trade, or hold and see what consensus develops?
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This sounds like a plausible remedy.
Not to be obtuse, but what do you think people that are holding SBD's should do now? Should one trade, or hold and see what consensus develops?
If you think this proposal is going to be enacted (which I would say is not going to be soon, but possibly 'someday') then you should trade your SBD for something else because once enacted it would almost certainly quickly devalue SBD back much closer to its intended $1.
If you don't think this proposal is going to be enacted, but you think that SBD is still going to drift down to $1 over some reasonable period of time then you should still trade it for something else because you stand to lose 50% of its current value during that process.
If you think SBD is going to stay at its current value or go higher, you should hold it or buy more, but be prepared to reevaluate that as conditions (including the price) change. In this case you are speculating. Not saying that is a bad thing, but be aware of what you are doing.
Much obliged. I appreciate your thoughts. I'm a noob so I value the insight!
I've made a tidy profit trading sbd for BTC on external markets.
I did a tiny amount just to get my first time doing the process out of the way lol.
After my first trade I saw how trading could be very addicted...thank goodness I'm very cautious. I spent a lot of time and effort earning the sbd I traded. I'm really excited about my bitpay debit card I ordered, I want to show my family cryptocurrency is for-real. If I had more funds to play with I'd be playing the markets!
Yes I agree with that. The problem I have with playing the crypto markets is finding a way to value a coin. A company with a balance sheet on the stock exchange, yes. An alt coin, not so much.
It's a good question. I am not a trader, so I don't really have good advise. If you think SBD is likely going to go higher, then I would hold and wait to sell. If you think $2 SBD is going to be as good as it gets for a while, then I would sell :)
As far as basing it off this proposal, I do not think anything will come of it for some time. Who knows though - maybe the market may react to just seeing that the community is considering such things.
Thanks for the input, Tim. It seems like holding something that is $2 that is meant to be pegged at a $1 is a fair idea to trade out of. Just like you say even the thought of making some changes may effect the value. I really appreciate the time you take to answer questions for us newer folk.