The Steem print on this cup is almost gone, but it's still one of my favourites
What to do with your SBD?
I was asked a couple of times already what to do with SBD's (Steem Blockchain Dollars) now that they are printed again.
This can be SBD's that you had previously as well.
To know what to do you first need to also know what an SBD is.
An SBD is basically a smart contract that you can always convert to $1 worth of STEEM trough a convert function in the blockchain. (with a couple of exceptions I won't go into now to keep it simple).
This is all it's good for. Being worth $1 worth of STEEM.
Currently SBD is trading on the markets at $0.97 cents. Basically it's intended value. Even though SBD has traded higher in the past its use-case is being worth $1 of STEEM.
So if you see people buying SBD for $2 on the market one day, know that they are buying something that (on a pure use case level) is only worth $1.
I hope that's clear.
What to do with your SBD's kinda depends what you want out of Steem at this moment.
These are roughly your options:
If you want more Steempower, using the internal market to buy STEEM ($0.42) is the way to go right now. Every SBD will currently give you 2,3 STEEM instantly. This will be less and less when STEEM goes up in value.
SBD's are currently around $1 USD, this is the intended price for SBD. Selling them for FIAT, STEEM or other crypto is smart. Only pure speculation will make the SBD go up more. They have no real fundamentals backing them (like STEEM).
Keep them and speculated on a price rise like we had in 2017. (I consider this unlikely, but this is crypto, you never know).
What am I doing?
I'm using my SBD to buy some Steem Monsters cards and convert most of them to STEEM.
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@exyle,
I am collecting STEEM by selling SBD atm!
Cheers~
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Thank you.
I'll take option 1... It seems like the smart move for my 8 SBDs..:)
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Order placed. 8 SBD into 18 Steem when it sells.
Not bad at all!
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Thanks, this confirms what I suspected, that there is no real point holding on to them unless we have the peg to completely out of whack again!
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I don't see any reason why history can't repeat itself again and suspect there will be some people holding on to at least some SBD in anticipation :)
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Fair enough! I will hang onto to 1SBD and set a really high sell limit order... I think I would be happy at 20k!
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kaboom :P
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Lol! But not good enough for me, I won't settle for anything less than 1:1 parity with Bitcoin!
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Then i suspect you could be a long term hodler - that sounds nice though :D
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Wasn't there an adjustment made to SBD last year, to try and make it harder to go much above $1? I did read somewhere that the peg still isn't that strong and it could go much higher, if the price of Steem rockets. I don't know if that's correct, we all need to do our own research on this. I still prefer having Steem and powering up, as that helps me make more Steem.
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Thank you so much for participating the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
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I am speculating on SBD because they might go up in value especially this coming months when exchanges will pop here and there.
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@exyle,
When Steem was trading in the $0.79 to $1.30 USD price range, I was holding Steem Dollars (SBD) in anticipation of a lower price for Steem.
Now that Steem is in the $0.30 to $0.50 USD range, I have converted all of my family's SBD for Steem.
~ @chrisrice
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Thanks for your explanation.
Now it's completely clear
Posted using Partiko Android
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Ha, did you say "some" sm cards? What an understatement, I have seen your collection :-) Why not list this as option 4 as this is what we all do lately?
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I suppose now SBD is back to where is should be it's time to do a 50/50 split on posts again. I have been doing 100% power-ups until recently.
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You can convert SBD to steem and buy a hoodie or t-shirt @ https://hipptee.com/
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I think for now SBD, it needs to be invested in advance, while waiting for high prices
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My personal opinion is that SBD has failed and will never really work the way it was designed to be. It dropped as low as .50$ and also climbet at 13(?) or was it 17(?)$.
I’ll keep my SBD’s because you never know...it might reach its ATH again :P
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Just a heads up - if you want to quickly exchange your SBD to STEEM, just send it to @tipu with memo: swap
:)
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I always wonder what to do with them. And I just saw we are finally earning them again the other day, why is that?
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I don't have a ton of SBD anymore because I usually trade or convert it to SP. Also lately I have been taking my rewards as pure SP so that has been keeping my liquid Steem and SBD pretty low. I think if you plan on sticking around here for any amount of time, your best bet is to just turn it into SP.
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Indeed it is a great question... what to do?!?
Personally, I will either invest it or convert it and increase my SP that finally yesterday reached the 500 SP mark.
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I think you mention it at the end but not as an option in that it could be the best of the Steem currencies to use for transactions. I have always envisioned them to be more transactional in nature despite its limited exposure off the chain at merchants. But can you imagine the utility of it if we can purchase goods and services with it as it holds it $1 peg? While that happens, I am using to increase my Steem Power!
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I know for sure I'm gonna be changing whatever SBD I can get my hands on to fiat while waiting for Steem to recover !
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converting to steem is the best thing to do that right now
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The 2017 SBD pump was definitely very unlikely. I would love $12 being the new $1.
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Thank you @exyle
I was always a little blur when it came to this SBD...
That helps :D
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