SUMMARY
Our Learned Witnesses who are very dedicated to taking Steemit to ever greater heights have presented both sides of argument as to how exactly to treat Steem Dollars (SBD) compared to Steem. I'm certain they will make the wisest decision for the benefit of us all.
As a Technical Analyst, the chart for SBD is rather quite bullish. The Chart pattern below clearly displays a downward pointing wedge which is bullish. More so, price has broken out of the triangle and as MACD shows, price is expected to impulse upwards. As an Elliotician, I believe that price drives the news and events and never the reverse. While many find this difficult to accept; IF SO, then the impulse shows two levels of targets. The first scenario is that of $16 and the second is that of $20.26 or so. The MACD is also seems to be lifting itself up from the floor. Is it possible for the price go to a lower low? Yes, but to me, possible is very different from probable.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Lets go Bullish Wedge!
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I would enjoy seeing SBD getting back to $15. Maybe 2:1 with SP.
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The need for SBD will be greater as Steemit grows so I don't think we'll see a dump unless some drastically changes are made. And like you said, the technical analysis looks great.
I recommended both Steem and SBD a while ago. Showing some gains already:
STEEM & SBD - Update - Analysis (42% and 54% gains) — Steemit https://steemit.com/steem/@benkalashnikov/steem-and-sbd-update-analysis-42-and-54-gains
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The witnesses can push for more SBD which would flood the market, theoretically flooring the value of SBD, no?
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Potentially yeah, I'm not too educated on this though. Been focused more on the charts :)
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The authors ask for 50/50 posts which creates more sbd. Authors then can apply sell pressure to sbd and steem or speculate
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Why are we thinking about the price and value of SBD at this point, If STEEM goes up and continue to remain up, then it will be natural that more SBD will be created which will increase the supply and hence price will go down, so why to worry about it, let the market decide.
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Steem has very big potential actually. More and more people start to use it. :D
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I totally agree! I can't imagine waisting time on FB or Twitter anymore.
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Steem* ;)
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Jezzz!! Thanks :D
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What I say is: Yes it will go back to $1 in the mid to long term. But thanks to the speculators for the higher payouts to the authors. :-) In my opinion people speculate on SBD because of its low marketcap and people don't really know what SBD is. People have also take into account that inflation of SBD rises with its price. And inflation then causes downward pressure.
Here I have a chart where you see the price of SBD versus the inflation:
Its from my weekly steem statistics. https://steemit.com/steem/@sevenseals/steem-statistic-charts-week-03
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The value of post would d skyrocket!!
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SBD = Silent But Deadly...Let's GooooO!!!!!!
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Like many other message boards, canceling out duplicate posts on Steemit would be very wise for the devs to help clean up bullshit from hater bots
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THIS GUY IS A COMPLETE FRAUD!! STEALING TRADING VIEW POSTS AND RECOMMENDS HIMSELF WITH HIS OWN ALIASES, SERIOUSLY.... USE THAT SAME ENERGY TO LEARN FROM @HAEJIN AND MAKE YOUR OWN MONEY, LIKE MANY WHO HAVE BEEN FOLLOWING HIM SINCE MONTHS AGO...
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Can someone explain to me if SBD's price will be nerfed or not?
If it';s meant to be pegged to around a dollar I worry steems system will kick in at some point and reduce the price (presumably with inflation??)
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Follow some of the witnesses for the discussion. Sorry, I dont have a link handy.
And for clarification if i understand correctly sbd is supposed to be one dollar WORTH OF STEEM, not pegged to the dollar. So if steem is at 6 bucks usd you should be able to trade 6 sbd for one steem.
I could be wrong but on the wallet is says "sbd are worth one dollar OF steem".
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Apparently what is being discussed now is implementing the option for two way conversions. Currently the blockchain is capable of converting SBD to Steem (note this is different than the internal currency market). The option is being discussed to allow users to convert Steem to SBD. If this happens the de facto unlimited printing possibility would push SBD back to the intended $1 as anytime it was overvalued people would be incentivized to convert & sell.
Also, any calls for Steem and SBD to rise simultaneously are highly suspect. Steem price increases directly create increased inflation of SBD even under the current system.
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yes it will with two zeros on the right $100
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That is a very interesting thought. The techchat team is extremely confident in the long-term potential of Steem. Playing devil's advocate it also appears as the chart is following lower lows. Before there is any dramatic increase there should be support build up. This is only techchat's opinion, but we are excited about the ride!
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Hi @haejin ! GREAT Post, i just upvoted you !
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As more and more people start to use steem more and more value will bring higher price for steem. Soon steem will be valued in terms to total users it has.
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This site is interesting, by their estimation, that could be way off,
DTube currently worth $868,000
https://www.worthofweb.com/website-value/d.tube/
Steemit $97,000,000
https://www.worthofweb.com/website-value/steemit.com/
YouTube $102,650,332,250
https://www.worthofweb.com/website-value/youtube.com/
I do think Steemit could be worth $1T in the future but there's a long way to go just to catch up with YouTube. Hopefully the masses will see the advantages of Steemit and DTube over the traditional sites.
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This is only meant for use as informative or entertainment purposes cannot be stressed enough here.
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If you find out how it can be more stressed, please let me know.
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Maybe include it at the top of the post? i.e. Disclosure or legal disclaimer under the summary section. I think it is important to manage people's expectations, especially when providing financial information.
Ryan
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Great post @haejin
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Thanks very much Haijen. Can someone critique this analysis of mine please. I am new and looking for help. Thanks!
SNT.JPG
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Your Elliott Wave count seems to be correct. However, the price action did not break out of the channel yet, and know that it could always form a failed correction that forms a WXY pattern.
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more people are using steemit , so it will go moon ;p
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@haejin i know many people have told that SBD will go back to the dollar but for the steemit block chain it is not possible that Sbd will get to 1 back and your prediction will be true soon only by people saying it will come back to 1 is not accepted by system it need proof and knowledge thanks
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Witnesses are currently debating changing it to it is intended $1 worth of steem.
You can say it wont happen but all you have to do is jump in the conversation for clarification.
It is very much a possibility.
And it is not $1... But a $1 worth of steem.
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Actually the SBD was supposed to be pegged only to a low end of $1USD not a dollar worth of steem. Nor was it set to have a ceiling value, "in the white paper" this may have been an oversight but it was addressed in the interest rate paid on STEEM in savings. It is stated in the whitepaper that it pegs to $1.00 USD https://steem.io/SteemWhitePaper.pdf
Now that being said the white paper only delves into the value of STEEM debt-to-ownership ratio. In that that the value never get below $100. But it only asddresses interest payment if it goes above $100. Now if you look at your wallet the savings mechanism currently shows that 0.0% interest is being paid on savings.
Keep in mind that currently the Witnesses are only discussing this move to peg both the bottom and top of the SBD value to $1.00. It is not going to happen in the next fw days or anything like that.
This is only being done so that SBD's can be seen as a stable currency and can be used in STEEM Market place as a store of value that can be swapped for fiat and a store owner never having to worry about the value of SBD crashing before or after a market transaction has taken place.
I hope this helps
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Wow, it absolutely does! I have been killing my voting power and have been trying to get it back but I couldn't NOT upvote that reply. Thank you!
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If you really want to upvote me how about pitching a witness vote my way https://v2.steemconnect.com/sign/account-witness-vote?witness=libertyranger&approve=1. I have been spending everyday learning as much about the STEEM infrastructure as I can and how STEEMit is built around it in order to better understand how to advance it in ways that are benificial for everyone.
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You got it, as well as a follow. Steem on and good luck!
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Much appreciated sir.
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just FYI people... if it falls back again, he will say it was B wave which went up and now C downwave going ....
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Hello @haejin very interesting post from @haejin already restem ya me.
do not forget to see and upvote my blog.
I don't know if I did everything correct :)
If I missed something please tell me ;)
Thank you 😊
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Well, I'm not that educated enough to judge which one will prevails SBD or STEEM, even with all of the tutorials and updates you brought, I'm still in the process of learning.Currently my decision would be, if the range of prices between SBD and STEEM were quite significant (1 SBD = 1.5-2 STEEM), I'll buy some STEEM and if the prices is not so significant, I'll keep my SBD. Well, I'm not quite a risk taker when it comes to something I don't understand so maybe in the future when my insight has improved, I'll take more risk.
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Steem has brought surprises to some and joy to many because it raise their financial base. Hope it will be sustained.
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muchas gracias por compartir tus análisis
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I don't know much about steem as a currency but from what I've heard and know I think it will be bullish short term ( untill mass adoption ) and therefore it will stabilise at 1$~ .
What do you guys think of this hypothesis?
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Its going to be $20 in two months.
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Supply and demand. Unless they start increasing the supply I can't see the price stabilizing at a value near a dollar. Maybe they do something to the demand side...
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It is a possibility and the witnesses are discussing what to do... Sorry but I just dont remember the witness that posted about it.
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So close to being first..haha
Good post brother!
Can you markup DIMECOIN?
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You really did scare me with your title
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Can you please do an ypdate for Civic
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Hy all please up vote my post i am newbie in steemit
https://steemit.com/@nanda87
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Focusing on creating good content is much more effective in gaining followers than using your energy to beg for them.
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Didn't get the $1 point in analysis, is it something related to the pegging to USD.
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I am glad to see some of the big youtubers coming across to this platform. I left youtube as a result of my favourite creators being censored. Steemit is the way forward :)
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By bullish you mean bullshit.
My account is for sale btw
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Steem has such potential.
I have so much believe in it.
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I completely disagree with the things that you have disagreed.
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Interesting Post, Well I don't know much about steem as a currency since i'm new here but from what I've knew that the more people use steem the more they brings higher price for the platform, No ?
Thanks for sharing, Keep up the good work.
XOXO
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Who knows where and when its going to go..
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I think that Steem Dollar is only more expensive than Steem because there are less SBD out there than "regular" Steem. However, the number of SBD is (if I am right) infinite. Means => somewhen there will be more SBD than Steem out there and then - at least I think so - Steem will be worthier than SBD on long term
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SBD can be destroyed by converting them, ie calling the debt and receiving the steem in exchange. Realistically this will only happen when the price of SBD is less than or equal to $1, so for the near term we will have an expanding supply of SBD.
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i am not an economist nor ''someone who is educated about finance''. But i may say that; when we try to figure out ''what is steemit?'', we mostly pronounce the world of '' ...an ecosystem''. Just like the real world living habitats. So, it is alive and contracted from value by its users. Even the user number is under 1M this value increase day by day. And i am sure it reflects to the price of SBD. After increased number of user this ecosystem would be more valuable than ever and it could make the price of SBD too high thn 1$.
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i hope it does i really enjoy this crypto and platform the most and here to stay but i think most of all in the long run thing s will pan out for the better crypto aint ever gonna die we have woken the beast lol
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It is impressive how good the analysis is.
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Steemit going up yes xP !!
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Glad I started blogging again after x months on hiatus. Thank you for the analysis.
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Це безумовно так і чекаю цього... good news
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Can somebody tell me the SBD's Total or Maximum supply? I cant find it any where.
Or no limit?
When I put my money in it, it's circulating supply was 3 million. Now over 7 million.
Some say it will be 1 dollar, as the blue paper (still) says, some people (i think who invested in it when it was low, like me), bring the attention to the rename of SBD, (STEEM BACKED DOLLAR-----> STEEM BLOCKCHAIN DOLLAR), in order to maybe this purpose of this coin no longer exist.
What do you think?
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Can we do $RDD coin, please!!!! @Haejin : )
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This is such gold, haha. Haejin 4 prez!
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You forgot the tag 'legendary creature' instead of 'creature' ^^
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Upvote for me plz
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read the content make a intelligent comment and you may just get a like. Even, "thank you Haejin for your time and effort" would do.
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Create better content for upvotes. No one likes a beggar.
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This is not how Steem works
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great.
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