The SBD has been trading on the exchanges for more than it's intended for a while now.
The SBD is an IOU for $1 worth of STEEM. But it's currently trading for $5 on the exchanges.
Now to put this in more familiar terms think of it in strawberries.
Let's say 1 SBD is worth $1 worth of strawberries in the shop, why would you pay $5 for this SBD? When you could just go to the shop with your $5 and buy $1 of strawberries and keep the $4.
But this is crypto and I'm sure that on the exchanges not everyone knows about what a SBD is worth.
Now, the high SBD has a lot of benefits. I highlight them all the time.
More rewards for content creators and it pays for development on the steem blockchain. For @blockbrothers, the witness I'm part of, the higher price is a blessing. It currently pays for our servers and an external dev we hired.
But a high SBD also incentives self voting because the Return on Investment for doing so is very high. Especially for those those who do not blog much.
This only makes sense.
Any steempower holder normally would benefit the most from a STEEM price that goes up. If you have 50k steempower it means that a $1 increase in STEEM price increases your investment with $50,000.
So, with an SBD worth $1 doing whatever you can to add value to the STEEM blockchain and make it go up in value makes the most sense.
But with a high SBD price self voting becomes an interesting option.
With 50k steempower ($200,000) you can upvote yourself 10 times a day for a total of around $300 dollars a day. That's $100,000 in a year.
That's simply just a very good ROI.
Now if the SBD was worth $1 then the total would be $75 a day or $27,000 in a year. A little over 10%, still ok but less worth it. Adding value to the blockchain and raising the STEEM price would become more interesting again.
This post is not intended to say wether all this is bad or good. I'm just always looking for reasons why things are happening.
Personally I think in the future the SBD price will come down all by itself as more and more of it is printed over time. (total supply right now = 9 million SBD vs 3 million SBD, 3 months ago).
I talk about it more in my vlog.
I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.
We build Steemify a notification app for your Steemit account for iOS.
Get it Here:
▶️ DTube
▶️ IPFS
Steem sits with all steemians. If you are an HODLER you can see that you have to protect it.
Lately the price is steady around $4+, it shows the correlation with the demand of steem and everyone is confortable with steem valuation.
A lot of work ahead of us to get steem worlwide. At first they do not understand it, but slowly it will go widespread.
Keep on steemin'
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I am not interested in knowing what the real reason is behind SBD price rise, i know for sure that this platform is generating good traffic and new users from the moment SBD prices moves above $1 , forcing many authors and curators to remain active on this great platform and making it more and more profitable... God bless those who are pumping SBD prices, wish them to push it even harder!
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Yep, I love everyone who keeps SBD high. Best greetings to all of them, you're great!
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i love sbd than steem
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I agree @hms818. The current SBD price keeps new comers motivated and gives them a moral and a momentum boost. There's a lot of climbing to do on the platform to reach your target audience so why change the rewards that encourage that? Its one of the reasons why we have seen some big youtubers join in the last 4-5 weeks. Take SBD to the moon.
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this literally made my day 😂
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Amen to that :)
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youtube is dead
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thank you so much for this exyle! i'm new on steemit and invested up front in steem then powered up. not planning on powering down anytime soon. i love curating and voting on others posts. my own will come very soon, i'm a vlogger on youtube for about 9 years now. i've picked up on a "shame vibe" or perception if one up votes their own comment, it's frowned upon, so i've been uncertain to do so. i've noticed that bloggers upvote their own posts though. this article made me feel much more comfortable with spreading it around....to even me. i love spreading the steem around!!!!!! i love STEEMIT!
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Yeah obviously. Just like any Company's share having face value as $1 but may have worth of $15 in exchange.
@exyle, I didn't understand one thing and I'll appreciate if you explain the reason behind it. On steemit platform we earn SBDs on our posts but why total amount of SBD's increase/decrease with the increase/decrease in it's worth in USD.
Like if my post earned 10 SBD and that time 1SBD=4$, if SBD falls to 3.5$, value shown on my post will decline to 9.5 SBD for example. What is the reason of this dual impact?
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sbd shot to like 17 bucks last dec...
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The payout is calculated with a 3.5 day average of the STEEM price. So when the STEEM price goes up you will see your payout increase and vice versa. The price of the SBD has nothing to do with it.
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Oh. Like how our account value is shown in our wallets, on average.
Thanks for your response Bro :)
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You should check out Elliot Waves analysis SBD on tradingview. SBD to the moon! 🚀
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@exyle do you think the creation of more SBD is related to the inflow of newbies to the platform?
Thanks for the explanation. I’ve been trying to find more info on how to best build my SP, support the platform, and create a nice passive income for myself. Any advice will help...
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No, as he explains it's related to the average price of steem over a few days. The more steem is worth the more SBD's get created at time of payout.
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The average price of steem has to be effected by the number of new people demanding steem... so that’s why I asked the question...
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Well, as things are right now the majority of the demand for steem comes from traders on one exchange, and I have my own ideas on that as do others. Nothing wrong with asking questions, sorry if I sounded dismissive or insulting.
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I do agree with you
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In other words, as a long term crypto-investor. Keeping sbd on a long term would be very risky, preferably we can just convert to steem and keep instead.
Thank you very much for this info @exyle
You rock!!💪💪💪
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Long-term I agree. Short time it's harder to predict.
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Yes, we really can't predict what's in store for sbd in a short run.
For minnows like me, we're just going to enjoy it while it lasts and hopefully capitalise on it as much as possible
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It's an epic time to be a content creator for sure, and part of the reason we are not 'working' any more I assume! :D
I'm impressed at the stability of SBDs in recent weeks, as I like many suspected it was on the way down to its 'home' of $1. To see it fall below STEEM and now be worth 20% more again is very interesting, but I'm certainly not going to complain!
It doesn't matter if you are cashing some out, buying STEEM, or throwing some at Bidbots, it's all good right now, and long may it continue!
Have a good day man!
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I agree completely. At some point the supply of SBD is going to grow to the point where it has to collapse. Personally, I think those on the open market buying an asset that has a stated value of $1 for $5 is pretty foolish but then people do foolish stuff everyday.
When the peg broke, there were 3.5M SBD...I am not sure how many there are now but last I looked it was 6M or 7M. When does it get too much? 10M? 15M At some point people are going to dump it.
I hear many say that creating so many SBD is a problem since it is debt, a liability against the blockchain. The fortunate thing is that it is only $1 worth of debt. Plus, as the price of STEEM increases, the amount of that token it takes to retire the SBD is actually lessened.
To retire 8M SBD at $4 STEEM requires 2M STEEM...at $10 STEEM it only requires 800K STEEM.
As long as the price of STEEM is increasing, the debt is not a problem.
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Let's talk.
So what do you conclusively advice? Save more steem or channel it to other crypto?
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Sell your SBD long-term (short term I don't know what it will do) for something else.
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Looking at the current trail sir.
Sbd is higher than steem, though steem looks promising.
I have not started saving steem or investing in other currency, but with this information, I'm sure gonna start.
Thanks so much for this insight
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@exyle,
There are a lot of SBD prints day by day! But I think it's market supply is not yet enough to hold SBD at $1. I hope 8 - 20 times of current SBD market supply can hold SBD at $1 again! According to me it will take time! So we can enjoy this great reward at this moment! Great discussion you initiated today!
Cheers~
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your witness team is really doing an awesome work Upvoted for you as a witness already awesome :) work you all are doing
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You're one of the good guys, @exyle . Some really good points that you make, especially about the currency peg. Will need to read up a bit on forex and currency pegs from my days at the university, but it sounds to me from your video that content creators really can't count on a high SBD price forever. Other Steemit bloggers have been talking up $20 Steem (and higher), and now I'm starting to think that maybe that is being a bit too optimistic. Is that right?
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I think long-term the price of SBD will move back to $1, but it could be a while.
on the other hand I think long-term STEEM will go up in value a lot more. I don't think $20 is unreachable.
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Thanks for sharing your view on the SBD. I share your thoughts and it leaves always the feeling that the voting system of steem is overengineered. Just to many variables and of cource the system produces what it is incentivizing.
I think to a certain degree people with major steem investments always have also the long term perspective (I hope) so they probably don‘t want to spend their full 10 votes on own post (and hopefully not creating therefore spam posts which unfortunately happened also). But definitely it make sense to upvote own content. What I am doing at least is upvoting my own post as late as possible what increases curation rewards for all upvoting my posts. So kind of win-win.
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I think it used to be even more complex back in the day. I think we got rewarded in SBD, SP and STEEM. Also we had the n^2 curve. I remember being able to upvote with 1 cent after I got 10,000SP. How times have changed.
Of course, It's still not 100% simple but I do think it's better now.
I'm also invested for very long-term. that's why I never powered down since I joined. I like the idea about the idea of voting later, it's been mentioned to me before. I'll keep that in mind.
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Thanks for taking the time to explain these things in a way that those less informed can understand @exyle. I will have to listen to this a few times to really get it I think but I can see now why so many people who joined about the same time as I did are leasing delegations and upvoting themselves like mad.
On a different note - I think I made a mistake with my witness vote. I voted for @exyle some time ago but didn't get an error message. Should I have voted for @blockbrothers?
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No big mistake but indeed my username is not the witness (it therefor won't register). If you still want to vote for our witness you can find @blockbrothers in the list here we are in spot #38. And Thank you.
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Done! You're welcome. I'm very grateful for all the time you put in to help educate us in ways that are easier to understand. 😊
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yes thank you for taking the time. I'll vote for @blockbrothers too.
Maybe I just confused being new here compared to you. I just don't understand who staying the SBD is worth a dollar. The market says it's worth about 5 right now.
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I also think SBD price will come to $1 in the future as the SBD supply. As STEEM supply is linked but SBD. As the price of STEEM increase the payout in SBD also increase which will directly increase the supply.
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Enjoy while it lasts as SBD is still trading above US$1. Love your videos as always, Exyle.
Good that you can pay for your server maintenance. Upvoted!
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Thank you!
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many people are predicting that price will touch 100usd what are your views on that
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thanks for info, hopefully SBD will stay above $5
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I have post - sad truth about SBD. It may be helpful
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How do you get the @Dtube upvote Everyday?
Teach us the secret man! lol
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Excellent video friend and many congrats to blockbrother on reaching 38 spot in such short spade of time, i 100% support you and blockbrother, well SBD right now doing great and i think investor's or buyer's who are buying sbd might not know that sbd is just an internal currency peg with US$ and it has limitations but on the other hand steem coin has huge open space ahead with no barriers and i hope once people identify this then the huge momentum will be shifted back to steem and we might see atleast 10$ in that time, so at the moment convert SBD to steem is not a bad deal at all, thanks for educating us friend, wish you all the best in all of your future endeavors! Stay blessed
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I remember reading the Steem Whitepaper and it said that the value of SBD should be at most 10% of the market cap of Steem. If it was higher, it would create instability with the system. You brought up a good point regarding self voting. If there is so many SBD, people will not contribute properly to the blockchain and just be concerned with cashing out. The only way for the blockchain to combat this is to disable the interest rate for SBD which is why it is currently at 0% APR I guess...
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Actually a high SBD is an incentive to keep steem locked in SP, if steem went to 100 but SBD stayed at 1 you could be sure that more would be powering down.
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It isn't necessarily about keeping SBD at $1. The whitepaper states that the total value of SBD should not exceed 10% of the total market cap of Steem. You could have SBD be worth $10 USD if Steem was $100. And even if it was $1, why would people power down? The SP would allow them to accumulate more SBD over time.
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In a period of market fluctuation like we've seen in the past the price did not remain high for an extended period of time, both the last time and this time we've seen a lot of powering down going on and cashing out of steem, but this time SBD was higher so voting power mattered more during this pump phase so more people stayed locked up in SP.
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I never really understood it this way but you did a great job at explaining. I really want both SBD and Steem to moon.
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Great perspective. I haven't really put much thought into it but rather just go with the flow. Now you've got me thinkin' a bit. There's always an inner circle involved in anything in the know as well.
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update about SBD
Thanks
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Steemit.com is an investment in the self.
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I love the way you outlined the SBD / steem relationship. SBD is like an instant reward for those who blog. It is the reason why those who cannot invest are on steemit today, especially now that you get much lesser Steem power for at post payout than it used to be when steem price was less than $1.
No matter what the case may be, I still think a high SBD price is good for majority in the steem ecosystem.
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I think the issue is as always, traders and the the perception. Calling it Steem backed dollars was in hidsight perhaps an error. People see the word dollar and it gives it a sense of security, or even legitimacy which gives the traders confidence its value. Its also encouraging people to produce more content, albeit a lot of it rubbish but nonetheless, anything that encourages members to write and stay in the community is not a bad thing especially as the retention rate here as been reported at a dreadful 12%.
Best wishes and another great piece. Thank you :-)
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really right...bro
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I think that it was a mistake, they should rename it and disavow any association with a peg to the dollar. They run some risks if they continue to do so.
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@exyle I am actually OK with the higher price of SBD right now. I have a couple of things I am going to to over the week to take advantage of this current higher SBE price. It will be Fun for all...................
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Thank you @exyle for sharing that
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In future, SBD will go down to 1$ with the increase of users on platform.
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Steem turbine sounds interesting . Good luck for it and as long as SBD trades high I am going to convert it to steem and power up. haha when you self vote doen't look good you said but that's what people are doing mostly. But you cannot judge it as fair or unfiar. :)
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Your example was good and very easy to say, I agree with your words
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Big topic today... on many blog posts. I cant help but feel like if the value of the SBD drops, it will be hard for those like me who have only gotten a small taste of having the extra account value boost.
Its hard to imagine ever getting my Steem Power into thr thousands- not for sake of money but sake of voting power and desire-ability. I want whats best for the Steemit platform but i cannot deny also wanting what is most personally lucrative.
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Yes, I'm quite sure that steemit would not be nearly as attractive to most if prices were negligible in their ability to help people earn money, at least in its current form.
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Let me tell you something higher SBD price is attracting people towards steemit in our country.I think not just in our country also all over the world.For an example today i earned 3 SBD it means inour local currency it is 1200tk.If the SBD price goes down then a lot of people will leave steemit.Thank's for such valuable post.@upovoted and resteemed
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welcome to steemit
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Prekarsny analysis, my friend and the fact that the price of SBD is high in any case gives more incentive to ordinary participants for development, when without investment can not do! Thank you Mark.
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Waoww
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Generic comments could be mistaken for spam.
Tips to avoid being flagged
Thank You! ⚜
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Man it's very complicated to understand the above things ..I just want to see the SBD price to moon & wanna earn few SBD in here on my steemit account .thanks.
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thanks for sharing a story.........i am every excited your post.............keep it up.......
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There is no how you can not gain from posting a good write up on steemit.com. The value of SBD goes up depending on the forces of demand and supply. If more people deposit or invest on steem it keeps moving up. so let us keep encouraging more investors to come in here.
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good
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@exyle sbd is almost equal to 5$ on different exchanges .
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thanks for share dtube i am always saw your dtube video
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Sigh .... Wish I had 200K power. Just upvoted my own comment ... nadda sob sob :( lol
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Is sbd goes down then should the value of steem go down as well?
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let's hope the fight with the Y-gigant can be won :)
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You are like a University level professor on this subject! Thanks again for the awesome education.
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Thanks for the information by the story.
And thanks for the share on dtube.
Upvote
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very useful, especially for me.
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Explained everything. Steem theory revealed to the newbies. Great article bro.
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nice post,thanks for shearing.
really great story sir.
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This post expands understanding of SBD, thanks for sharing your thoughts!
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this is only the time to power up using the opportunity to go high with the rewards this will be back to dollar 1 one day for sure
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Yeah Obiously
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still dont understand yet but im new
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Great article indeed, but @exyle, If you observe http://steemdollar.com carefully, it does appear that the price of SBD is tied to that of BTC, whenever there is an upsurge in BTC, you will also have a corresponding rise in the value of SBD. With this correlation, do you think a time would come when SBD will actually drop to $1?
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great post ~~~!
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I do actually study SBD trends to make exchange in Uganda. Steemit has not yet got a direct exchange and will do the manual exchange and start working on the online system.
This serves to attract more users on steemit and converting in real fiat value. This is my wish and desire but scared to make losses.
Moreover, SBD has a good trend by now but we can't really know the far it will go but I believe though it may reduce for a while, there will be an increase in the future.
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Sweet information
Thanks man
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Nice example right there bro. I read the whole thing.
My only question is, is this fluctuated SBD price affect the Steemit platform? I’m other words, Steemit is still paying us out at the value of $1 SBD, but is that hurting the platform? I would imagine them just making the price of the payout to be matching the price on the exchanges of an SBD.
That would be my logical situation solver haha.
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Wow...great story..i appreciate this writing..all the best...
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thanx for the information
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Thanks@exyle for sharing us a important information about SBD.
upvote and follow please................................
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Great post Sir.
Thanks for the information .
Always appreciate about your video and article .
Thanks again for sharing with us in this great community .
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I have always said this, I prefer the rise in sbd because it favours we the content creators.
Do you have any idea why the price of steem and sbd is currently falling?
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Great post!!! :)
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please boss just one upvote https://steemit.com/life/@rana0/human-life-is-very-rhythmic#comments
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Im still confused how it works.. hehe. how it calculated.. and do not know what to do.. ALL I know is just to post and upvote and commenting on other post.. hehe
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thanks your information sir.. nice post.
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loving the video
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The $1 peg is meaningless and if you read the whitepaper, you get the sense the founders didn't understand what they were doing as far as sbd. I wrote a long post about it analyzing the whitepaper.
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Yeah, they really didn't think it through that hard. Read your post, it's a good read. Really all they do by having a floor for SBD is throw steem under the bus when steem is struggling in the markets.
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I’m liking it being highbright now because I can also get more Steem in return in trade of a sBd , which I pay not be able to do in the future
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this information helps me clarify many doubts I had. I am interested in learning the increase of the SBD. and STEEM weekly, so be prepared. Thanks for sharing such valuable information.
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Great post!!! :)
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Whoa, I didn't realize that it wasn't actually worth $5 because coinmarket cap said it was. Gah now I'm going into deep thinking mode because of this post lol.
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Yep - That is what @exyle is saying. Probably a lot doesn’t know which is one reason the price probably is above 1 USD.
There are however also the theory that this is intended and supported by steemit itself as it is a great way to bring in new users due to the great author reward. But who knows.
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Steem is the king people are not understanding that at the moment but as soon as the FOMO begins that will changes the complete scenes around the supply of sbd has increased too much now.
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That's Sounds Good
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I always look forward to reading your posts... They are always cool...
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Wow really informative.😊
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Hello @exyle,
First of all, thanks for all your posts including this one. It helps people and that's where my heart goes all warm!
If im correct you are dutch, just like myself which warms my heart up even more!
I'm here to ask your help on a mather tho, there is a bug on known on dtube. It's called "failed adding to the blockchain" error. I found a very easy fix for this and created a post about it. I will not post it here, but u might have the time to check it out on my page and maybe support me in getting this out there for more dtube users that struggle with this problem.
Thanks alot in advance, i wish you luck in your future vlogs!
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Well we will look into the currency. Steemit growing quickly but.market pressure on cryto has declined steemit. Not sure why all cryptos are affected but surely they will rise.
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Stocks go up and down all the time, one just has to understand how it all works. Steemians just need to be patient and work hard if they expect to see their expected results.
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@exyle, this is an eye opener, I really learnt alot here, I think presently the high price of SBD is for our own good and we need to take advantage of it while it lasts, nobody knows tomorrow.
THANKS FOR THE INFO
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It sure makes things interesting, one thing that is good is that it helps people to increase their STEEM power faster by allowing them to buy more. Getting up to 500 SP is not the same as it was when STEEM was 7 cents.
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wow very excellent
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No one think about the coin all just trade in the heat of the moment no one would have bought it at so much high rate when they will came to know its price will always be dollar one but its all upto market hands right now
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I'm just a little guy learning as I go along in Steemic. I saw the potential like a lot of other people when I first got in. Thanks for explaining what's happening with the steem dollar.
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I really enjoy reading this kind of stuff. It's been good to hear different perspectives because it seems to be quite a hot button because of what people have invested (time, money, etc.) and the ideas surrounding trying to control the price or let it run it's course. Interesting read.
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I think SBD will remain easily "pumpable" in the near future, simply because it will take a long time for it's total supply to grow significantly. Also as steem becomes more desirable pumping SBD could remain a cheap way to acquire it.
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Well the increase in the price of it sure made it pretty good for the payouts !Lets enjoy the ride as long as it is in the high !
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Bro is self vote is good? i am confused and till i not even do a self vote. Please suggest me about it. I am always in doubt that how steemit divide reward. Steemit reward half of money as SBD which is ok but why Steem Power always decrease by forth part of SBD. Please explain me if you can.
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Thank you a lot for this exyle! My Name is Sheri prince I'm new on steemit and invested up the front in steem then powered up. No longer making plans on powering down each time quickly. I love curating and balloting on others posts. My personal will come very soon, i'm a vlogger on youtube for about 9 years now. I have picked up on a "disgrace vibe" or perception if one up votes their personal comment, it's frowned upon, so i have been unsure to accomplish that. I've noticed that bloggers upvote their very own posts although. This article made me feel plenty greater comfy with spreading it around....To even me. I really like spreading the steem round!!!!!! I love steemit!
And am now not interested by understanding what the real reason is at the back of sbd fee rise, i realize for positive that this platform is producing suitable traffic and new users from the instant sbd fees actions above $1 , forcing many authors and curators to remain energetic on this excellent platform and making it an increasing number of worthwhile... God bless folks who are pumping sbd fees, want them to push it even more difficult!
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I'm no crypto genious. But I'm well versed in economics and investing. What you say makes a lot of sense. However who is to judge what an SBD is "supposed to be worth". With the SBD there is only one place to get them.
As a world traveler I've bought strawberries all around the world at totally different prices based on the local market demands. So if the supply and demand make an SBD worth 5 dollars. Than how can anyone say it's worth or should be worth one dollar. That's the part where you lost me just a bit.
But then again you've been hear a lot longer and know this stuff way better than I do. Some probably off on my thinking in one way or another. Anyway. Great post, and keep up the great work! -Dan "World Travel Pro!"
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Thanks for your comment. Let me put it in a better way.
Would you pay $5 for a ticket that says, 'This ticket can be swapped for $1 worth of strawberries'?
Or would you rather buy $1 worth of strawberries with your $5 and keep $4?
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Thanks for taking the time to explain, call me thick headed I just thought if the price of SBD is 5 dollars. The ticket now says 'This ticket can be swapped for $5 worth of strawberries'? Who is saying that it's worth one dollar? Non of the exchanges like bittrex are trading the SBD for a dollar. I thought it was all about what it's "supposed" to be worth, vs what it "is" worth.
What it "is worth" is what what it's worth. I don't understand how it can be worth five but worth one at the same time.
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I am starting to think that the high SBD price os happening more related to the fact that It is only traded against BTC.
That means that its price is directly correlated with BTC and that way it cant have an independent correction.
The Peak of SBD is almost at the same time of the last BTC Peak.
What is needed for SBD to get a right correction and a direct relation to usd is SBD to be traded on exchanges directly against usd (or theter, If It survive)
The only place where SBD is trade against an instrument related to usd is at openledger/bitshare, at a really low volume.
Here is where the witness/steem Inc. Should Focus the efforts. On exchanges.
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Well yes high SBD will benifit the steemians with high SP,hope this not lead steemians go crazy and do self vote only,that may result in lack of content,this should not be happened,it's bad for the ecosytem of steemit platform.
But on the other part it should not be as low as $1 too,it may discourage new steemians from joining in.
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Excellent points exposed dear friend @exyle, which I think are very favorable for our platform, although it is true of the auto votes, are not the majority of people who do it.
Thank you very much for sharing this information, I wish you a great day
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whoever pumped it let many of us fulfill the dreams it has given hopes to many that they can do great work too here :)
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SBD price above $1 is a very "polemic" theme, but I agree to what you said, right now the high SBD price is attracting a lot of people to steemit, which is our main goal for now.
When we reach considerable numbers of users we can start thinking on correcting this price and turning SBD to it´s main goal again (maintaining a stable price).
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