What do I do?
Im new and have looked for this information and can not find it. I did not look long though.
I'm putting this out there so that I can find out and learn from those who really know. Here is the question. Is it a good thing to power down and sell at a high in SBD position, wait a while then when the market favors a low buy turn around and power up?
Let me explain the other day I learned how to power up, I was able to buy at $0.88
Now the market is sitting at about $1.16 per.
That is a swing in price of $0.28 it doesn't sound like a lot but I made a purchase with 243 shares so that is a significant swing.
I was thinking of taking a portion of steem power and powering down to hold in SBD till the market has another good buy position.
Is this action insanity or a plausible action to take?
Hello,
I've done this a few times to make a bit of extra Steem, But it can be risky. Throughout my time of being on this site (Almost 2 years) I have found that the price of Steem is usually higher than the price of SBD.
The goal with SBD, Is to keep it "pegged" At 1.00 But lately It's been a lot higher for some reason. SBD, Can be compared to our USD. Because it used to only be worth 1.00
The recent surge in price in both SBD and Steem, Has caused the internal market to be a little weird.
usually those numbers you are seeing in the market, Could be as high as 2.00 or 3.00 ! But because the price of SBD is so high, It has driven them down.
So be careful. I think there is a chance that the price could keep rising in our market.
To Power Down
You have to wait 1 week for these funds, And you'll get them in increments of 13 based on your power amount.
Now if you wanted to completely withdraw the money and put it in your bank account, That's where it gets more complicated. And I can find a tutorial for you later when you are ready to do that.
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Thank you This is very Helpful.
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Well even if you end up loosing your most likely only benefiting a fellow Streemian rather then some random dude on an external exchange who’s agenda has nothing to do with the platform.
Currently trying to free up some capital to invest, get myself out of this bandwidth struggle!
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I would recomend to delegat some of your steempower maybe into a Voting Bot like @boomerang or @minnowhelper.
You can earn SBD rewards from the voting pool every 2.5hour and get paid in SBD. So you get a constantly flow of SBD earnings which you can invest in more Steempower. If you keep on re-investing than you get a nice average price from Steem and SBD.
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